Suppose you inherited $6,000 from your father's brother. You would like to take a trip to Australia and estimated the cost of that to be $13,000. If you could invest the money at a 6.9% rate of return, how long would you have to wait to go to Australia?

Q: Q2. You want to purchase a car that worth $22,678 by making a down payment of $2,678 and paying the…

A: Cost of Car = 22,678 Down payment = 2,678 n = 48 annual rate = 8.5 or 8.5/12 = 0.70833%

Q: You are now about to pay P50,000 to a friend whom you have borrowed some money fifteen months ago.…

A: The worth of an asset at a future date is called future value. It is the present value multiplied by…

Q: Suppose you want to realize a future value of $150,000 in 30 years on an investment you make. The…

A: Given -  Future Value, (FV) - $150,000 No. of years, (n) = 30 The annual rate of return, (i) = 8.75%…

Q: What is the amount of interest earned on $5,000 for three years at 8% simpleinterest per year?

A: The income earned by labor is wage and the income earned by land is rent. Similarly, the interest is…

Q: In 1915, Anas allegedly borrowed 7,000$ from a large New York bank on the condition that he would…

A:

Q: . Exactly 100 years ago, my greatgrandmother deposited P10450 in a large Philippine Bank as part of…

A: Present value is the value of investment in todays dollar.  Future value is the value of investment…

Q: A vintner is deciding when to release a vintage of Sauvignon Blanc. If it is bottled and released…

A: The time value of money (TVM) reflects the idea that a sum of money has a different value today than…

Q: Suppose you invest $1,000 today, compounded annually, with an annual interest rate of 5.00%. What is…

A: Introduction: The present value of the investment is $1000 which earns an interest rate of 5%. Now…

Q: Suppose an amount of P300,045 is invested in 19 years at 7.37% per year. How much is the earning of…

A:

Q: Marla would like to collect $195,000 to buy a house in 12 years. She thinks she can save money in a…

A: A B C D Yearly Deposit P n(years of CI) (1+r/100)^n A*C 9350.000 12 1.795856326 16791.25665…

Q: It costs $27,000 to retrofit the gasoline pumps at a certain filling station so the pumps can…

A: The answer is in the explanation.Explanation:1. Calculate the Monthly Profit:  The monthly profit…

Q: You earn SEK 10,000 for three years. After these three years, you have SEK 13,000. The interest rate…

A: Annual percentage rate (APR) refers to the yearly interest generated by a sum that's charged to…

Q: Mohamed wishes to deposit BD10,000 to a bank that will guarantee BD15,938.48 after eight (8) years.…

A: Here we need to assume the interest rate she is expecting from the bank.  Then following calculation…

Q: Today, an investment amounts to P8,000,000. What was the value of your investment in 2010 of t

A: Investment value today = 8,000,000 P Interest rate = 8 % Time = 2022 – 2010 = 12 years

Q: You deposit $6000 into an 7% account today. At the end of two years, you will deposit another $2500.…

A: Amount after compound interest is applied is calculated by using the formula  A = P(1+r) n

Q: At what simple interest rate must ₱100,000 be invested so as to gain an interest of ₱10,000 after 5…

A: We have given that  Total simple interest after 5 years =10,000 Deposited amount or principal amount…

Q: If your investment plan pays an APR of 7% and you want to have $0.9 million when you retire in 27…

A: The Annual Percentage Rate (APR) is a financial term that represents the yearly return on an…

Q: Mahmud Hassan inherited $250,000 from a great uncle, and immediately quit his software engineering…

A: We will answer the first three subparts only. Please resubmit the question with any other parts…

Q: An investor (owner) has an option to purchase a tract of land that will be worth $20,000 in ten…

A: Compound interest rate is one of the methods of calculating interest rate. It calculates the…

Q: Burnaby Circuit Boards is thinking of buying a new wave soldering machine that is anticipated to…

A: Present value is the value of investment in today's dollar.Future value is the value of investment…

Q: Suppose you must make two annual $10,000 payments, the first one starting at the end of Year 5. To…

A: The concepts of present value, future value, and annual value are all related to the time value of…

Q: Tuition at a local college is currently $4,000 per year. If tuition rates are expected to increase…

A: The present amount of annual tuition and annual rate will be used to determine the annual tuition 19…

Q: Suppose that 50,000 dollars from a retirement account is invested in a large cap stock fund. After…

A: Buying products that aren't consumed right away but will be used to make money later on is what is…

Q: What is the annual rate of interest (in %) if P732 is earned in 9 months on an investment of…

A: The formula used is: SI=P×R×T100

Q: What is the amount of interest earned on $5,000 for eight years at 10% simple interest per year?

A: Since, you have asked more than one question, we will be answering the first one for you. If you…

Q: If one were to continue loaning out 90% of deposits, estimate the total amount of money that can be…

A: Here, it is given that an individual or a bank loaning out 90% of deposits, it implies that 10% will…

Q: A person invested ¥10,406.8 when his son was 7 years old, ¥17,627.21 when he turned 8, and ¥18,860.3…

A: Given, Initial investment = 10,406.8 After 7 years = 17,627.21 After 8 years = 18,860.3

Q: Consider a geometric series of cash flows that begins at time 5 with a cash flow of $5,000. Cash…

A: Given:- Cash flow  time  5 = $ 5000 Annual growth in cash flow = 7% Number in cash flows = 9 Future…

Q: What is the annual rate of interest (in %) if P275 is earned in 10 months on an investment of…

A:

Q: Let’s say you are to receive a payment of 130 euros 1 year from now and the interest rate (your best…

A: Given a particular rate of return, present value (PV) is the current value of a future financial…

Q: A new home that costs $490,000 has presented itself. You want to make a 20% down payment and finance…

A: In the mention question, we are expecting an interest rate which is 4.375% but we are given quoted…

Q: What are two steps taken to find the AE, when cash flow has no special pattern?

A: The first step is convert the cash flow to present value by using the below formula.

Q: Suppose you pay $971 for a 10=year Treasury bond that has a face value of $1,000 and a coupon rate…

A: coupon payment from the bond = coupon rate * face value of the bondReturn from the bond = [(Revenue…

Q: A saving association pays 2% interest monthly. What is the effective annual rate of interest?

A: Effective annual interest rate = [1 + (i/n)]n - 1

Q: Tuition at a local college is currently $3,600 per year.  If tuition rates  are expected to increase…

A: The present value is the current value of future sum of the money.  The future value is the…

Q: You are planning to invest $4,000 in an account earning 8% per year for retirement. a. If you put…

A: In the referenced inquiry we are posed with regards to the future worth we will finish from the…

Q: I want to be earning an annual salary of $100,000 when I retire in 14 years. I have been offered a…

A: Present value of an Investment :  PV = FV1+ rt PV is the amount/ salary you should request, FV…

Q: You purchased a bond with a face value of $5,000 five years ago for $4,750. The bond pays a coupon…

A: The coupon payment is the interest paid by the bond issuer to the bondholder. It is calculated by…