Mary wants to buy a mountain cabin for her retirement. Mary recently came into an inheritance of $30,000. She estimates that thecabin she wants will cost $40,000 when she retires in 3 years.Click here to view the factor table.How much of her inheritance must she invest at an annual rate of 6% (compounded annually) to buy her cabin? (For calculation purposes,use 5 decimal places as displayed in the factor table provided and final answer to O decimal places, e.g. 458,581.)Investment amount

Let Investment amount be x.40000=x1+61003Simplify both side of equations .40000=148877125000x=…

Answered: Mary wants to buy a mountain cabin for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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sonia which to establish a trust fund from which her son can withdrew $6000 every six months for 15 years , when he reach 16 years old.At the end of which time he will receive the remaining money in the trust,which you would like to be $25000. The trust will be invested at 6% per annum compounded semi-annual .How large should the trust be ?
Marie wants to provide retirement income for her dependent parents for 35 years should she die. Marie earns $67,500 and feels that her parents could live on 65% of that amount. If the insurance funds could be invested at 5%, how much life insurance does she purchase using the desired income method? Group of answer choices $1,273,499 $1,450,087 $932,743 $877,500
Economics 3. Sarah wants to have $2,000,000 in net worth when he retires. To achieve this goal, she plans to invest $1,000 each year (starting one year from now) into an account of time that earns 10% interest rate compour is how many years? a. 31.94 (32 y b. 55.64 (56 ye 25.56 (26 years) d. 20.36 (20 years) ually. The amount of time Sarah can retire as a multimillionaire C.
A favorite aunt wishes to establish a trust fund for her niece's math education. How much should she set aside now if she wants $45, 000, 7 years from now, and interest is compounded continuously at 5%? O $45,000(1.05)-7 O $45,000e -1.95 $45,000e-0.35 O $45,000e-0.05 O $45,000(1.05)- -0.35
please help me dont give answer in mage format
The Amount of an Endowment Heidi has an investment that generates an income of $35,000/year in perpetuity. Assuming that her income flows continually and her investment earns interest at the rate of 8%/year compounded continuously, what is the present value of her investment?
H1. Account
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John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $430,000. He estimates that the boat he wants will cost $339,300 when he retires in 5 years. Click here to view factor tables. How much of his inheritance must he invest at an annual rate of 6% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Investment amount $ eTextbook and Media
Jeff wishes to accumulate $7,000 in 6 years. Use the appropriate formula to find the sinking fund payment she would need to make at the end of each year, at 7% interest, compounded annually. $942.12 $978.57 O $1,432.12 O $1,468.57

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