Mary wants to buy a mountain cabin for her retirement. Mary recer cabin 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' use 5 decimal places as displayed in the factor table provided and final a Investment amount %24

You would like to give your daughter $75,000 towards her college education 16 years from now. How much money must you set aside today for this purpose if you can earn 8 percent on your investments? Group of answer choices $28,417.67 $18,388.19 $29,311.13 $21,891.79 $20,270.17

The Benefit of a Higher APY Isabel Lopez from Lewiston, Idaho, who is 19 years old, recently received an inheritance of $49,000 from her grandmother's estate. She plans to use the money for the down payment on a home in ten years when she finishes her education. Right now the funds are in a savings account paying 4.0 percent APY. How much would Isabel have in ten years if instead she purchased a ten-year CD paying 6.0 percent? Round your answer to the nearest dollar. (Hint: Use Appendix A-1 or visit the Garman/Forgue companion website.) Round Future Value of a Single Amount in intermediate calculations to four decimal places.

Brenda Young desires to have $20,000 eight years from now for her daughter’s college fund. If she will earn 4 percent (compounded annually) on her money, what amount should she deposit now? Use the present value of a single amount calculation. Use Exhibit 1-C. (Round time value factor to 3 decimal places and final answer to nearest whole number.)