Samantha wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $30,000 (if she needs more, she'll work odd jobs). Samantha believes she can invest her savings at 8% until she depletes her funds. Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Requirements 1 How much money does Samantha need now to fund her travels. a. Use a single Excel formula function PV and be sure to enter any payment amount with a minus sign or parenthesis. 2 After checking with a number of banks, Samantha learns she'll be able to invest her funds only at 6%. How much does she need now to fund her travels? a. Use a single Excel formula function PV and be sure to enter any payment amount with a minus sign or parenthesis.

solve using the appropriate formulas show full workings and find the answer. DONT USE EXCEL TO SOLVE ANYTHING ONLY USE RELEVANT FORMULAS TO SOLVE AND SHOW ALL WORKINGS 5. You have $33,556.25 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $220,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal?

Ernie Bilko has a business idea. He wants to rent an abandoned gas station for just the months of November and December. He will convert the gas station into a drive-through Christmas wrapping station. Customers will drive in, drop off their gifts, return the next day, and pick up their wrapped gifts. He needs $331,700 to rent the gas station, purchase wrapping paper, hire workers, and advertise. If he borrows this amount at 6.5 interest for those two months, what size lump sum payment will he have to make to pay off the loan? (Round your answer to the nearest cent.) $ _______

PIANO LOANS. Stephanie has her eye on a $150,000 Steinway D Grand Piano. Will a cheery major chord or a depressing minor chord best describe her meeting with a loan officer? Use a calculator to do the math after writing out the proper formula. Round to the nearest dollar. Her credit history allows her to qualify for a 6% (APR, compounded monthly) loan that she plans to pay off over the next 15 years. If her earnings allow her to comfortably make monthly payments of $1200, what is the most she can afford to borrow? b. Alternatively, she can qualify for a 6% (APR, compounded monthly), 20-year loan. If she borrows $150,000, then what would her monthly payment be? c. Finally, suppose Stephanie runs up a lot of credit card debt in college, so that she can only qualify for a 9% (APR, compounded monthly), 20-year loan. If she still wants to buy that $150,000 piano, what will her monthly payment be? 4. а.

Use a financial calculator or computer software program to answer the following questions: a) Melanie is trying to save money for retirement and has a future goal of $750,000 at the end of 20 years. Determine the present value of her goal using a discount rate of 12%. b) How would the present value change if the $750,000 is to be received at the end of 15 years instead? Explain the impact and show your work?

Selecting a Bank. Julie wants to open a bank account with ​$43. Julie estimates that she will write 23 checks per month and use her ATM card at the home bank. She will maintain a monthly balance of ​$500. Which bank should Julie​ choose?   Hillsboro Bank First National South Trust Bank Sun Coast Bank ATM​ charges:         Home bank Free Free Free Free Other bank 5 ​free, then ​$1.15 per use ​$1.40 per use ​$1.40 per use ​$1.40 per use ​Checking:         Minimum deposit ​$100 ​$28 ​$1 ​$1 Minimum balance required to avoid​ fees* ​N/A ​N/A ​$500 ​N/A Monthly fees ​$8.66 ​$10.11 ​$15.88 ​$3.61 ​Check-writing charges 15 ​free, then ​$0.85 per check 10 ​free, then ​$0.85 per check Unlimited Each check ​$0.43 ​* N/A means monthly fees apply irrespective of account balances. Based on the information given in the​ chart, which bank should Julie​…

Suppose that with the advent of ATMs, a person withdraws money once every two days. Further, suppose this person spends $10 per day. Calculate the amount of money this person withdraws each time she goes to the bank.