Suppose you want to have $9,000 saved in 6 years. If you can earn 4.6% on your funds, how much would you have to invest today to reach your goal? $6,310 $ 6,456 $6,872 $ 6,853

You’ve invested your savings at 8% and been able to accumulate $500,000. If you withdraw $50,000 at the end of every year, how long until the balance has been reduced to zero? a. 20.91 years b. 10.00 years c. 18.49 years d. 13.91 years e. 7.63 years

You expect to save $1,000 at the end of every year for 8 years. During the first 3 years, your savings will earn 4%, compounded semi-annually. During the last 5 years, your savings will earn 5%, compounded monthly. How much money will you have after 8 years? Round to the nearest dollar. Select one: a. $9,412 b. $9,546 c. $8,661 d. $9,876

You want to have $10,500 saved 8 years from now. How much less can you deposit today to reach this goal if you can earn 7 percent rather than 5 percent on your savings? Multiple Choice $1,007.94 $995.72 $1,023.90 $1,036.34

Today, you turn 21. Your birthday wish is that you will be a millionaire by your 40th birthday. In an attempt to reach this goal, you decide to save $25 a day, every day until you turn 40. You open an investment account and deposit your first $25 today. What rate of return must you earn to achieve your goal? 15.07% 15.13% 15.17% 15.20% 15.24

You have $12789 to invest and want to save up $28191.  You hope to earn a return of 10.1%.  How long until you reach your goal?   Answer:

You want to retire in 40 years as a millionaire (i.e., to have $1,000,000).  If 6% is the average rate of return on the investment during this time period, then how much should you invest per month starting at the end of this month?   a. $502   b. $702   c. $802   d. $602

you want to go to Europe 4 years from now, and you can save $3300 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will retum 8.5% per year. Under these conditions, how much would you have in your account by the time you are ready for your trip? O a. $12, 344.53. b. $13,799.76 O c. $15, 765.34 O d. $11, 235.11 • e. $14,980.40

You want to retire with $370 000 in the bank and you are able to earn 4.84% compounded quarterly for the next 25 years. You currently have $175 000 saved up. How much more do you have to invest in 15 years in order to achieve your goal? A) $100 649.58 B) $110 649.58 C) $120 649.58 D) $130 649.58 E) $0.00

question 20