Patricia has $5,740 in a savings account earning 4.0% annually. She plans to use the money in the account to purchase a new car. If Patricia saves $3,280 a year at the end of the next 3 years, how much will she have in savings in 3 years to purchase a new car?

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A: The objective of the question is to find out how much Joanna's Dad needs to deposit into an account…

Q: amy just retired with savings of $8 million. If she expects to live for 43 years and to earn 9% a…

A: Present Value of Annuity Due refers to a concept which determines the value of cash flows at present…

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A: The present value method refers to the determination of the present worth of an amount with a…

Q: Kate's grandmother promises to give her $5,000 at the end of four years and $6,000 at the end of…

A:

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A: It is a case of loan amortization where the monthly payment is given with a 20% down payment done…

Q: Carolyn is helping to save for her granddaughter’s college fund. It will probably take 18 years…

A: Future value required (FV) = $150,000 Interest rate (r) = 6% Number of annual payments (n) = 18…

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A: We know the quantum of funds invested into an account and the accumulated value. We have to find the…

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A: The Present Value of Annuity (PVAF) is the cash value of all future annuity payments discounted at a…

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A: Using excel PV function

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Q: Ingrid wants to buy a $22,000 car in 6 years. How much money must she deposit at the end of each…

A: Future Value = $22,000 Time Period = 6 Years Interest Rate = 5.8%

Q: Liz and Bob just had a baby named Isabelle, and they want to save enough money for Isabelle to go to…

A: The time value of money is a core valuation topic in finance that accounts for the effects of…

Q: e past several years, Natalie Howard has been able to save regularly. As a result, she has $57,088…

A: Future value of the money includes the amount that is being deposited and plus amount of compounding…

Q: ou are saving for the college education of your two children. They are two years apart in age; one…

A: Present value is the equivalent today of the future money required based on time and interest rate…

Q: Ashley has a large and growing collection of animated movies. She wants to replace her old…

A: Future value is an estimate of future cash flow ​​that may be received at a future date, discounted…

Q: Samantha spends $120 per month on lottery scratchers. She decides to invest that amount each month…

A: Information Provided: Payment = $120 Annual Interest rate = 6.7$ Total principal value = (120*12) =…

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A: College fees=$42000Period=4 yearsInterest rate-8.46%

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A: Here, To Find: Value of the house =?

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Q: Julie deposited some money in a savings account this morning. Her money will earn 5 percent…

A: Computation:

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A: given, pv = $1200,000 n=5 r=2.5%

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A: This is based on the concept of the time value of money. Money invested or deposited today grows in…

Q: Lena is regularly saving money in order to buy a new car at the end of 7 years. If the car is 30,000…

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Q: What semi-annual deposits does Adrian have to make?

A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…

Q: Your cousin is currently 12 years old. She will be going to college in 6 years. Your aunt and uncle…

A: The concept of time value of money will be used and applied here.As per the concept of time value of…

Q: g the advi savings to Ehe knows s bonus of

A: Given information :

Q: Amy currently has $500 in an account with an annual rate of return of 4.3%. She wants to have $3000…

A: Here, Presnet value "PV" = $500 Future value for trip "FV" = $3000 Annual rate of return  = 4.3%…

Q: our sister just deposited $5,000 Into an investment account. She belleves that she will earn an…

A: The concept of time value of money will be used here. Since future value has to be computed we will…

Q: You want your daughter to be a millionaire. She is 3 years old today when you deposit $42,000 in an…

A: The number of years required to reach the target can be calculated with the help of future value…