Kirk Van Houten, who has been married for 22 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $11,000 in 88 years. Kirk currently has $4,599 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring
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Kirk Van Houten, who has been married for 22 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $11,000 in 88 years. Kirk currently has $4,599 to invest. What annual
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- Kirk Van Houten, who has been married for 22 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $11,000 in 88 years. Kirk currently has $4,5994,599 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?Kirk Van Houten, who has been married for 21 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $13,000 in 9 years. Kirk currently has $4,483 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?Kirk van Houten, who has been married for 23 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year anniversary. Assume that the cost of the ring will be $10,500 in 7 years. Kirk currently has $4,555 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? The annual rate of return Kirk must earn on his investment to accumulate enough money to pay for the ring is Round to the decimal places
- Kirk Van Houten, who has been married for 21years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $12,000 in 9 years. Kirk currently has $4,591 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? The annual rate of return Kirk must earn on his investment to accumulate enough money to pay for the ring isKirk Van Houten, who has been married for 21 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $13,000 in 9 years. Kirk currently has $4,539 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?Kirk Van Houten, who has been married for 23 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $10 comma 000 in 7 years. Kirk currently has $4 comma 524 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?
- Kirk Van Houten, who has been married for 20 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $19,851 in 10 years. Kirk currently has $4,500 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? The annual rate of return Kirk must earn on his investment is ______%. (Round to the nearest integer.) PVIF table is attachedKirk Van Houten, who has been married for 24 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $10,000 in 6 years. Kirk currently has $4,515 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? You are considering investing in a security that will pay you $3,000 in 32 years. b. Assume these investments sell for $1,315 in return for which you receive $3,000 in 32 years. What is the rate of return investors earn on this investment if they buy it for $1,315?Kirk Van Houten, who has been married for 22 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $9,265 in 8 years. Kirk currently has $4,650 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? Click the table icon to view the PVIF table E The annual rate of return Kirk must earn on his investment is %. (Round to the nearest integer.) Help me solve this View an example Get more help - Clear all Check answer
- Kirk Van Houten, who has been married for 24 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $10,000 in 6 years. Kirk currently has $4,515 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? You are considering investing in a security that will pay you $3,000 in 32 years. a. If the appropriate discount rate is 11 percent, what is the present value of this investment? b. Assume these investments sell for $1,315 in return for which you receive $3,000 in 32 years. What is the rate of return investors earn on this investment if they buy it for $1,315?(Solving for i) Kirk Van Houten, who has been married for 24 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $13,000 in 6 years. Kirk currently has $4,557 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? (Round to two decimal places.)Suppose a husband wants to take his wife on a trip three years from now to Europe to celebrate their 40th anniversary. He has just received a $20,000 inheritance from an uncle and intends to invest it for the trip. The husband estimates the trip will cost $23,500 and he believes he can earn 5% interest, compounded annually, on his investment. Complete the following table to calculate the future value. Will he be able to pay for the trip with the accumulated investment amount? Note: Use tables, Excel, or a financial calculator. Round your final answers to the nearest whole dollar
