You plan to graduate in 4 years, and then travel to Italy for 3 weeks. The trip will cost $ 1,600. 1. If you can earn an annual interest rate of 8%, how much do you have to save right now to have enough money for your trip? 2. Instead, the interest rate is 0.667% per month. How much do you need to save right now?

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A: Targeted future value = $2,000,000Current age: 35Retirement age: 65Contribution begins today

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A: Please see the next step for the solution

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Q: how long will it be before you have enough money for the down payment and closing costs?

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A: Formula: Future value = (Amount*((1+rate)^years -1)/Rate

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A: Data given:Cash in hand= $20,000Down payment=10%Closing cost=5%Cost of home =150,000Rate of…

Q: 1. You are 25, recently graduated, and have a job paying 98u a) You want to take a trip to Rome next…

A: "Hi, Thanks for the Question. Since you asked multiple sub parts question, we will answer first…

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A: Monthly payment refers to an amount that is being paid at every month for the repayment of the…

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A: future value formula: future value = present value ×1+rateyear future value of annuity…

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A: Given that: Price of ring for 0% financing for 60 months = $9000 Cash price = $7500

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A: Computation:

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A: The objective of this question is to determine how much time will be reduced from the loan term if…

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A: A= 182,0000t= 30 yearsDown Payment = 20%

Q: Suppose you have a student loan of ​$50,000 with an APR of 6​% for 30 years.   a. What are your…

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A: Loans are financial arrangements in which a lender provides money, goods, or services to a borrower…

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A: The concept of money's time worth reveals that any sum today is worth more as compared to what it…

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A: The question gives the following information:

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A: in this we need to calculate the present value factor monthly and get monthly payments.