QUESTION 15 What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $84,500 in six years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) ANNUAL INTEREST RATE
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QUESTION 15
What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $84,500 in six years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
ANNUAL INTEREST RATE
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- Question 7 You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. If the account pays 9.5 percent interest, what amount must you deposit each year?Q 16 What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $75,500 in six years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) ANNUAL INTEREST RATE %?Problem 1-15 Calculating the Future Value of an Annuity [LO 4) What amount would you have at age 65 if you contributed $260 a month starting today at age 25 and you can earn 6 percent APR compounded monthly on your investment? If you were to delay this savings for 10 years when you're 35, how much would you then have at 65? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Omit the "$" sign in your response.) Annual paynent at the end of 65 years, startine at 25 years Annual payment at the end of 65 years, starting at 35 years
- Question 5 of 10 You plan to save money for a down payment of $44,000 to purchase an apartment. You can only afford to save $1,250 at the end of every quarter into an account that earns interest at 3.92% compounded annually. How long will it take you to save the planned amount? years months Express the answer in years and months, rounded to the next payment period SUBMIT QUESTION ↑Question 1 What is the future value of $650 deposited for one year earning an 10 percent interest rate annually? (Do not round intermediate calculations. Enter your answer as a whole number.) Future valueQuestion 20 You owe $26,000 on student loans at an interest rate of 3.6% compounded monthly. You want to pay off the loan in 15 years. You should show your work for this problem. nts What will your monthly payments be? How much interest do you pay? > Next Question mplete 31
- Question 11 You need to have $100,000 in five years to pay off a home equity loan. You can invest in an account that pays 5.25 percent compounded quarterly. How much will you have to invest today to attain your target in five years? (Round to the nearest dollar.) $69,911 $71,493 $77,044 $81,421QUESTION 14 You have taken a loan of $300,000 over 12 years at a 6% interest rate compounded monthly, which is reimbursed with monthly payments. What is the principal portion of the 61st payment? O1,925.55 1,933.14 O654.56 449.86QUESTION 11 Assume that you contribute $160 per month to a retirement plan for 25 years. Then you are able to increase the contribution to $360 per month for the next 25 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value of multiple annuities?
- QUESTION 13 You are looking to buy a car. You can afford $610 in monthly payments for five years. In addition to the loan, you can make a $710 down payment. If interest rates are 9.00 percent APR, what price of car can you afford (loan plus down payment)? (Do not round intermediate calculations and round your final answer to 2 decimal places.) PRESENT VALUECompoundin g Amount invested today 238,000 Annual rate of return 8.3% Years until maturity 21 You are thinking about retirement, and would like to compute how much you will have some time in the future. Using the data from above, please compute future amounts, and then answer these questions: #1 How much MORE will you have if compounding is monthly rather than annually? #2 How much MORE will you have if compounding is daily rather than monthly? A Between 4,000 and 10,000 B Between 10,000 and 12,000 C Between 12,000 and 14,000 D…question 10 Assume that you contribute $230 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $460 per month for another 30 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) FUTURE VALUE OF MULTIPLE ANNUITIES?
