Mr. and Mrs. Davis needs to have $100,000 to start their own catering business in 15 years.  They expect to earn 7% annually on their investment.  What amount do they need to have today so that they can reach their financial goal of having $100,000 in 15 years?

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?

Michelle wants to set aside funds to take an around the world cruise in 7 years. Michelle expects that she will need $26500 for her dream vacation. If she is able to earn 8% per annum on an investment, how much will she have to set aside today so that she will have sufficient funds available? O $15462. O $14316. O $2970. O $45414.

Stephen and Blair are saving for their wedding. They need $25,000 in 4 years. They found a money market that earns 7.2% interest compounded semiannually. How much do Stephen and Blair need to invest? Round to the nearest dollar.