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 savings
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- 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.Suppose you want to have $400,000 for retirement in 25 years. Your account earns 5% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? es b) How much interest will you earn? $
- MWINY 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 savingsMatt 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.)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…
- Maheera can get a certificate of deposit (CD) at his bank that will pay 3.5% annually for 10 years. If he places $2442 in this CD, how much will it be worth when it matures? (a) Use the formula. (b) Use the interest tables and interpolation. (c) Use a calculator or spreadsheet for a 5-button solution.A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $30,000 saved up for when she goes to college in 17 years, assuming the account earns a 4% return. Annual deposit: $Delfina has $27,730 in her savings account and wants this to accumulate to $80,000 for a condominium down payment. Suppose she plans to make deposits of $500 at the beginning of every month into this account which earns 3.31% compounded semi- annually. How long will it take to accumulate the $80,000? Choose calculator mode: Select an answer Enter the future value as a positive value in the FV box below. Enter PV and PMT as positive or negative values based on FV being positive. Report N as a whole number. P/Y = C/Y = N = I/Y = PV = $ PMT = $ FV = $ Report your answer in years and months as whole numbers below. Your answer must be consistent with the value of N you entered above whether correct or incorrect. This question will be marked using the value displayed in the N answer box above. If years is an exact integer like "7 years", then enter 7 for years and for months. You must enter a value in each box for full marks. It will take years and months.
- Malek and his partner just had a baby. They want to start saving up for the child's college. Their goal is to have $20,000 after 18 years. They find a fund that offers 6% annual interest compounded monthly. They open the account with a starting balance of $0. a) Suppose they will use a spreadsheet to compute their monthly deposit. Choose the correct function from the pull-down menu, and enter the values that you would input into that function. ( b) Enter the above expression into Google sheets. Find the monthly deposit needed to meet their goal. Monthly deposit = $ (Round to the nearest cent) c) What is the total amount of money that they deposit into the account over the 18 years? Total amount deposited = $ (Round to the nearest dollar) d) How much interest would they earn from this investment? Interest = $ (Round to the nearest dollar) Please answer all parts of the question.1. Kyoko has $10,000 that she wants to invest. Her bank has several investment accounts to choose from, all compounding daily. Her goal is to have $15,000 by the time she finishes graduate school in 6 years. To the nearest hundredth of a percent, what should her minimum annual interest rate be in order to reach her goal? If you use an online financial calculator (look up "compound interest calculator") to answer this, provide a screenshot of three different scenarios that you tried, as well as the correct one.a 20 year old college student wants to save $3 a day for her retirement. Every day she places $3 in a drawer. At the end of the year, she invests the accumulated savings ($1095) in a brokerage account with an expected annual return of 12%. 1) how much will she have when she is 65 years old? (Draw a timeline and use both the formula and financial calculator methods) 2) How much must a 40 year old investor needs to deposit annually to catch the 20 year old when the investor becomes 65 years old? (draw a time line and use both the the formula and financial calculator methods)