Matt plans to start his own business once he graduates from college. He plans to save $1,400 every six months for the next five years. If his savings earn 10% annually (or 5% every six months), determine how much he will save by the end of the fifth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.) Total savings
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- Matt plans to start his own business once he graduates from college. He plans to save $2,000 every six months for the next four years. If his savings earn 8% annually (or 4% every six months), determine how much he will save by the end of the fourth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.)Matt plans to start his own business once he graduates from college. He plans to save $2,900 every six months for the next four years. If his savings earn 8% annually (or 4% every six months), determine how much he will save by the end of the fourth year. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.) Total savingsMatt plans to start his own business once he graduates from college. He plans to save $3,000 every six months for the next five years. If his savings earn 10% annually (or 5% every six months ), determine how much he will save by the end of the fifth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.)
- Matt plans to start his own business once he graduates from college. He plans to save $1,700 every six months for the next five years. If his savings earn 10% annually (or 5% every six months), determine how much he will save by the end of the fifth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.) Total savingsshow working using both a financial calculator and spreadsheet. after, show answer rounded off to the nearest dollar. Sam is in discussion with you about saving for his retirement. You are to advise him on how much he should deposit annually to meet his retirement needs. Assume that he will deposit a fixed annual amount for the next 20 years into a retirement savings account, starting one year from now. Sam has a son who will be attending college and plans to make 5 withdrawals (starting one year after making his final deposit into the retirement account) of $35,000 each to pay for his annual tuition for the following 5 years. Commercial Banks will be paying 6 percent on such retirement accounts for the next 25 years. Kindly advise Sam on how much he should place in the account annually to cover his retirement needs.Tait is entering high school and is determined to save money for college. Tait feels he can save $2,500 each year for the next four years from his part-time job. If Tait is able to invest at 6%, how much will he have when he starts college? (Click the icon to view Present Value of $1 table.) E (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) E (Click the icon to view Future Value of Ordinary Annuity of $1 table.) - X Reference (Round your answer to the nearest dollar.) Reference When Tait starts college he will have Present Value of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Future Value of $1 0.990 0.980 0.971 0.962 0.952 0.943 0.980 0.961 0.943 0.925 0.907 0.971 0.942 0.915 0.889 0.864 0.840 0.961 0.924 0.888 0.855 0.823 0.792 0.951 0.906 0.863 0.822 0.784 0.747 0.917 0.909 0.893 | 0.877 0.870 0.862 0.847 0.833 0.826 0.797 0.769 0.756 0.743…
- Matt plans to start his own business once he graduates from college. He plans to save $3,000 every six months for the next five years. If his savings earn 10% annually (or 5% every six months), determine how much he will save by the end of the fifth year.Jason has an opportunity to save $145 per month at an APR of 5.75% in a 401K plan through work. He plans to retire in 15 years. The income taxes are at 26% for him. (1) How much less will Jason receive in take-home pay over the course of his investment with the income tax savings? Review your course materials for help with this calculation.(Express your answer rounded correctly to the nearest cent!)$ (2) Use Excel's FV function to determine how much his investment will be worth when he retires based solely on his contributions.(Express your answer rounded correctly to the nearest cent!)$ (3) How much will Jason have deposited into the account by the time he retires?(Express your answer rounded correctly to the nearest cent!)$Devin has an opportunity to save $285 per month at an APR of 4.8% in a 401K plan through work. He plans to retire in 25 years. The income taxes are at 32% for him. (1) How much will Devin have deposited into the account by the time he retires? (Express your answer rounded correctly to the nearest cent!) (2) How much interest will Devin have earned on his investment by the time he retires? Use Excel's FV function to help answer this question. (Express your answer rounded correctly to the nearest cent!) 2$ (3) If Devin's company offers a 30% matching contribution, use Excel's FV function to determine how much his investment will be worth when he retires. (Express your answer rounded correctly to the nearest cent!)
- Carol wants to invest money in an investment account paying 4% interest compounding semi-annually. Carol would like the account to have a balance of $56,000 three years from now. How much must Carol deposit to accomplish her goal? Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, and PVA of $1). Multiple Choice $28,000 $49,784 $49,726 $49,280Shenli would like to plan for retirement. With the help of a financial planner, she estimates that she will need $2,300,000 when she retires 40 years from now. Assume her investments produce returns of 10% per year. How much would Shenli need to save each year if she makes equal end of year deposits for the next 40 years that she works? Click here to access the TVM Factor Table calculator. Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is ±5.Jayden is currently working but plans to start college in a few years. For this purpose, she would need $41,950. Today he can start investing $1,150 monthly in an investment account that pays 4 percent compounded monthly. How long would it take him to have enough money to start college? (Round the answer to four decimal points)