You are interested in saving for a trip when you graduate in three years. You can save $75 each of the next 36 months and earn 2.75% interest on your money. How much money would you have in your savings account in 36 months for your trip? ( Please reference the loan infromation in the "Task 5 Data " cells as the argument for your functions

You are interested in saving for a trip when you graduate in three years. You can save $75 each of the next 36 months and earn 2.75% interest on your money. How much money would you have in your savings account in 36 months for your trip? ( Please reference the loan infromation in the "Task 5 Data " cells as the argument for your functions

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. How much would you need to deposit in the account each month? Submit Question .com/course/showcalendar.php?cid=179278 Search
Alexa takes out a loan of 94,000 at an annual effective discount rate of 6%. The loan is to be repaid with annual payments of 10,000. The first payment is due 4 years after the loan is taken out. Calculate the amount of the drop payment. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answwer.
Multi Step Applications Solve the following problems. Round your results to the nearest cent as needed. You want to be able to withdraw $1, 500 from your account each month for 20 years after you retire from an account earning 2.25 % interest compounded monthly. How much will need in your retirement account at the beginning of your retirement? In order to achieve this goal, you will make monthly payments and earn 6.75 % interest compounded monthly. If you expect to retire in 15 years, how much should your monthly payments be to reach this goal? TVM Calculator Question Help: D Video e Written Example Submit Question
You would like to contribute to a savings account over the next three years in order to accumulate enough money to take a trip to Europe. Assume an interest rate of 20%, compounded quarterly. How much will accumulate in three years by depositing $560 at the beginning of each of the next 12 quarters? Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) Table, Excel, or calculator function Payment: Future Value: n= FVAD of $1 $ 560 12 5.0%
In order to start a small business, a student takes out a simple interest loan for $3000 for 9 months at a rate of 11.25%. a. How much interest must the student pay? b. Find the future value of the loan.
For TVM calculator: Write each known variable’s value as it appears in the calculator and use a question mark for the missing variable. Then, in the space provided write the missing variable’s value, as it appears in the calculator. Finally, write your final answer in context, with units, as a complete sentence. Donald is looking to invest in an account earning an interest rate of 1.75% compounded weekly and make weekly payments. If he wants $21,000 in 10 years, what do his payments need to be? N=520 I= 1.75 PV=? PMT=? FV= 21,000 P/Y=52 C/Y=52 Missing Variable Value __________________ Context Sentence:
Choose the best answer to the following question. Explain your reasoning with one or more complete sentences. What does a loan of $400,000 that carries a 4-point origination fee require as an advance payment? Choose the correct answer below. A. An advance payment of $1,600 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $400,000. B. An advance payment of $16,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $400,000. OC. An advance payment of $8,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $400,000. OD. An advance payment of $16,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $400,000. E. An advance payment of $8,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $400,000. OF. An advance payment of $1,600 is required. Each point is worth between 50 and 100 points…
Answer the Financial Literacy question below in the screenshot.
For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%. 3. What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment. Рayment Total of all payments PV FV RATE/INTEREST PERIODS/N (See next page for Questions 4 and 5)
Answer the following question using a spreadsheet and the material in the appendix. You would like to buy a house. Assume that given your income, you can afford to pay $12,000 a year to a lender for the next 30 years. If the interest rate is 7% how much can you borrow today based on your ability to pay? What about if the interest rate is 3%? Maximum mortgage at 7%: $ Maximum mortgage at 3%: $
Use one of excel's TVM functions among =PV, =FV, =PMT, =RATE, =NPER, =CUMIPMT, =CUMPRINC answer this questions. (Please input the functions in excel and screeshot it )
With the given information please confirm if my calculations for how many years it will take to pay off this loan are correct. I need to use excel formulas. Amoutn of loan: 50,000 annual payment 10,000 interest rate: 8% I used the NPER function on excell and my answer was 6.64 years, is this correct?

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