Say your gross pay is $51,212 annually. You take home 85% of it. Figure out how much you take home monthly

Q: In one month your costs on a project are $615,098 and you are applying for payment. You are marking…

A: To calculate the amount you expect to receive from the owner, you need to consider the project…

Q: Derek will deposit $255.00 per year into an account starting today and ending in year 21.00. The…

A: The Future Value of Annuity Due refers to the concept which determines the sum total of all the cash…

Q: Assume that you can get a loan from NCB for $264,500 for three years to buy an item of your…

A: Present Value of Ordinary Annuity refers to the concept which dictates the discounted value of a sum…

Q: You earn $500 a week at your new job and would like to invest 20% of your income into an account…

A: Here, Weekly Income is $500 Investment is 20% of Income. Hence, investment will be:…

Q: suppose you want to make sure you have 2,000,000 when you retire in 35 years. what even annual…

A: We need to use future value of ordinary annuity formula to calculate the annual payment. The formula…

Q: You start out with $74 and find out you can earn 6% interest on your money for the next 36 years.…

A: Principal available, P = $ 74Interest rate, R =6% per annumPeriod, T = 36 years

Q: The annual income from a rented house is $35,000. The annual expenses are $5,000. If the house can…

A: Annual Income = $35,000 Annual Expenses=$5,000 Net Cashflow =$35,000 -$5,000 =$45,000 Ending…

Q: You want to be able to withdraw $3,000 each month for 25 years. Your account earns 9% interest. How…

A: Given Information: Monthly withdrawal = $3,000 Time period = 25 years Interest rate = 9%

Q: When you retire, you plan to draw $50,000 per year from your retirement accounts, which will be…

A: Annuity is the no. of payments which are equal in size and made in equal interval of time. Person…

Q: Beginning three months from now, you will need $1,500 each quarter for the next four years to cover…

A: Amount needed quarterly = $1500Period = 4 YearsInterest rate = 0.35%

Q: You decide to buy a house costing $5,000,000. You pay $1,000,000 down, and the remainder will be…

A: A home equity loan is a loan provided against the equity of a property. The equity value at any…

Q: u are getting paid $8,000 a month, at the end of each working month. What is the present value of a…

A: Present value is the equivalent value of money today of the future value of money to be received…

Q: You have 35 years left until retirement and want to retire with $4.5 million. Your salary is paid…

A: Salary received at the end of the current year$63,000Salary increment percentage3.3%Annual…

Q: You want to buy a boat costing $35,000.  Your down payment is $7,000.  The remainder will be paid…

A: We have to calculate present value factor by considering monthly interest and from that we can…

Q: Suppose you are paid $2,000 per month and your employer's 40100 matches your contributions by 10% up…

A: Here, Monthly Pay is $2,000 Maximum Contribution in 401K is 15% of Monthly pay Period of working is…

Q: How much will you have in the account in 15 years? b) How much total money will you put into the…

A: Time value of money (TVM) is used to measure the value of money at different point of time in the…

Q: 1. Assume that you begin saving 3% of your total income in an employer-provided retirement plan at…

A: An "income growth strategy" refers to a deliberate plan or approach aimed at increasing one's…

Q: Suppose that Jacob would like to invest at the end of each month for the next 15 years into an…

A: Ordinary Annuity refers to series of equalized payments that are made at end of period for certain…

Q: How much money would you need to place in an account to have $1,000 10 years from today? Assume the…

A: The formula used as follows: Present value=Future value1+innt

Q: Your goal is to save up $30,000 to use as a future down payment. If you save $4,596 every year in an…

A: Here,RequiredAmount (FV) is $30,000Yearly Savings (PMT) is $4,596Interest Rate (Rate) is 3%

Q: If you save $5 per day in an account that earns 4.5% interest per year, how long will it take for…

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: How long can you make these withdrawals if you earn an annual percentage rate of 4.8 percent?

A: Present value illustrates the current value of a sum of money that will be received or paid in the…

Q: You have $187, 620 saved toda and plan to withdraw $9,000 a year. How long can you make these…

A: Time, value of money refers to the concept used for estimating the future value of the current asset…

Q: You have just leased a car that has monthly payments of $390 for the next 3 years with the first…

A: For the calculation of the present value we will use the below formula.Present value =…

Q: You choose to invest your $3,435 income tax refund check (rather than spend it) in an account…

A: Investment (PV) = $3,435 Interest rate (r) = 6% Period (t) = 30 Years

Q: What is the annual rate of return on a perpetuity that costs $500,000 and pays $1,000 monthly?

A: Following details are given in the question: Cost of perpetuity = $500000 Monthly payment (cashflow)…

Q: your salary is $25000 and you will be recieving 2.5% pay increase this year. What will your new…

A: Salary increases are a common occurrence for many employees, and one of the most common forms of…

Q: You deposit $1,000 today and want to save $100 each month beginning one month from today. Your…

A: We have to find the number of periods it will take to reach a target accumulated value, starting…

Q: Find the value of your retirement account after 20 years Value = $

A: The future value is the estimated value of an investment that accounts for compound interest or…

Q: How much would tom’s initial balance have to be? show work and formula

A: Present Value of Future Amount = FV / (1 + r)^n Here, FV = Future Value i.e. $30000 r = Periodic…

Q: f a person spends $6 a week on coffee (assume $300 a year), what would be the future value of that…

A: Future value is the amount deposited and amount of interest accumulated over the period.In the given…

Q: We consider the effects of starting early or late to save for retirement. Assume that each account…

A: The future value concept can be used to determine the future value of a stream of cash flows. The…

Q: Suppose you are paid $2400 per month and your employer's 401(k) matches your contributions by 50% up…

A: The 401k contributions are the contribution made by the employee and employer for the retirement of…

Q: Suppose you need $1,000 in one year and $2,000 more in two years. If you can earn 9%, how much do…

A: The objective of the question is to find out the present value of the future cash flows. In this…

Q: You need $73,061 in eight years if you can earn a 0.39% per month. How much will you have to deposit…

A: Present value refers to the current value of the future cash flow, discounted at the given rate for…

Q: I want to be able to withdraw $4,200 each month for 30 years. My account earns 7% interest. How much…

A: Present value of annuity formula will be used to calculate the amount required at beginning to…

Q: 5. If your working career is 540 months and you want to have a million dollars in your retirement…

A: The FV of an account refers to the value of the account assuming that its cash flows grow at a fixed…

Q: Your employer automatically puts 5 percent of your salary into a 401(k) retirement account each…

A:

Q: The state income rate on your account is 3.5 interest compounded monthly. If you deposit 100 each…

A: As the amount is being deposited the value of account increases with time due to the compounding of…

Q: You are hetting paid $12,000 a month, at the end of each wokeing month. What is the present value of…

A: Present value is the equivalent value of money today of the future value of money to be received…

Q: Josean got a dining set for $ 1,279 to pay for monthly for two years. He will pay at an interest of…

A: To open the "PMT function" window - MS-Excel --> Formulas --> Financials --> PMT.

Q: today on an 3-year trip during which time you will incur expenses of $40,000 at the end of each…

A: Present value of future cost is cost after reducing the interest cost from that money we can get…