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- If you desire to have $15,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 2 percent.Tandang Sora has deposited P33,000 today in an account which will earn 10 percent annually. She plans to leave the funds in this account for seven years earning interest. If the goal of this deposit is to cover a future obligation of P65,000, what recommendation would you make to Tandang SoraTo pay for your child's education, you wish to have accumulated P15,000 at the end of 15 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 6 percent compounded annually, how much must you deposit each year to obtain your goal?
- Aunt Tillie has deposited $33,000 today in an account which will earn 10 percent annually. She plans to leave the funds in this account for seven years earning interest. If the goal of this deposit is to cover a future obligation of $65,000, what recommendation would you make to Aunt Tillie?17) Nancy takes out a $500,000 loan for 25 years at 4% monthly. a) What is the monthly payment? b) What is the final payment?Suppose that Jacob would like to invest at the end of each month for the next 15 years into an account paying 6.72% compounded monthly in order to accumulate $10,000 at the end of that time? How much money must Jacob deposit into the account each month? How much interest will he have earned?
- Please help me answer the following time value of money question. Suppose Nicole deposits $50,000 in an account that pays 9% compounded annually. How long does it take before her balance is $125,000?Carol is depositing $1500 into an account earning 3%compounded semiannually. How much money will be in the account after 25 years?If you desire to have $15,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 2 percent. Use the appropriate factor(s) from the tables provided
- Maria Addai has been offered a future payment of $750 2 years from now. If she can earn 6.5%, compounded annually, on her investment, what should she pay for this investment today?what effective annual rate of return would rayne need to earn if she deposits 1,000 per month into an account beginning one month from today in order to have a total of 1000000 in 30 years?Maria Addai has been offered a future payment of $750 two years from now. If she can earn an annual rate of 6.5 percent, compounded daily, on her investment, what should she pay for this investment today?