Melissa wants to retire with $45,000 per month.she needs $4,500,000 in principal at the time she retires in order to generate this amount of monthly income if the interest rate is 12%.If Melissa has 28 years before retirement and has $90,000 to invest today.What simple interest rate does she need to achieve the necessary amount of principal?

A) Ms. Diana wants to take off next three years of work to travel around the world. Sheestimates her average annual cash need is $20,000. If she needs more funds, she will arrangefrom alternative ways i.e. taking loans or doing some odd jobs etc.Ms. Diana believes that she can invest her savings at 10% until she depletes her funds.You are required to find out how much she should invest now to fund her future cashflow if she is able invests at 10% annually OR what amount she has to invest if she onlyearns 7% annually.The relevant factors from table you will need for this calculation are given below.a) Future value interest factor for a one-dollar annuity compounded from the table at 10% is3.3100 and at 7% is 3.2149 on period#3b) Present value interest factor for a one-dollar annuity discounted from the table at 10% is2.4869 and at 7% is 2.6243 on period#3B) What is the difference between Present value & Future value?___________________________________________

Your parents will retire in 26 years. They currently have $230,000 saved, and they think they will need $1,250,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

Ms. Towne is buying a home for $250,000 and is putting down 20 percent cash on the purchase. She is financing the rest with a 30-year, fixed-rate mortgage with a rate of 5 percent but is considering an option that would allow her to make biweekly payments. How long would it take to pay off the loan if she chooses the biweekly payments option?

You anticipate your child will start college in 18 years. You decide to place $4,732 each year into a 4.1% interest bearing account. How much will be in the account when he begins college?

Without using Excel and using the formula, Cheryl is setting up a payout annuity and wishes to receive $1200 per month for 20 years. A. How much does she have to deposit if her money earns 8% interest compounded monthly? B. Find the total amount Cheryl will receive from her payout annuity.

You invest $2000 today at 7% per year. If you leave thisfor your grandchildren by not touching the account for80 years, what is the amount of interest on interestearned for this investment? Please explain how to do this problem in the financial calculator. The most important thing is that I understand how to solve the problem on my own

You want your daughter to be a millionaire. She is 3 years old today when you deposit $42,000 in an account that earns 8.2% per year. The funds in the account will be distributed to your daughter whenever the total reaches $1,000,000. How old will your daughter be when she gets the money?

Jane has been given an opportunity to receive 20,000, six years from now. If she can earn 10% on her investments, what is the most she should pay for this. opportunity?

Suppose that Kate is 45 years old and has no retirement savings. She wants to begin saving for retirement, with the first payment coming one year from now. She can save $20,000 per year and will invest that amount in the stock market, where it is expected to yield an average annual return of 5.00% return. Assume that this rate will be constant for the rest of her's life. In short, this scenario fits all the criteria of an ordinary annuity. Kate would like to calculate how much money she will have at age 60. Use the following table to indicate which values you should enter on your financial calculator. For example, if you are using the value of 1 for N, use the selection list above N in the table to select that value. Input Keystroke Output N Input Keystroke N Output I/Y Using a financial calculator yields a future value of this ordinary annuity to be approximately Kate would now like to calculate how much money she will have at age 65. Input Keystroke N Output Use the following table…