You want to have $350,000 saved up by the time you retire in 30 years, How much would you need to deposit each month into a savig account earning 6.5% annual interest to achieve this goal? Round to the nearest cent, if necessary.  Excel formula: Your answer:

Q: ) Assume that Luke Smith wants to retire in 20 years. He expects to live for another 15 after his…

A: In financial planning the present value the required amounts in future must be equal to future value…

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A: Present value of annuity (PVA) formula: PVA=A×1-11+rmn×mrm A=annuity r=rate n=number of years…

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A: Future Value Future Value $            1,000,000.00Interest Rate6%Time for Graduation32Time to…

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Q: An investment offers to pay you $8,000 a year for five years. If it costs $28,840, what will be your…

A: YEARS 5 PMT (MONTHLY DEPOSIT) 8000 PRESENT VALUE $28,840 FUTURE VALUE $0

Q: you want to buy a car for $8300 with $360 monthly payments for 4 years, what is the annual interest…

A: Interest rate is the rate which the customer would have to pay on the periodic payment of the…

Q: You are saving for a new car. You place $15,400 into an investment account today. How much will you…

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Q: An insurance agent has been attempting to convince you to purchase an savings plan towards your…

A: solution given Saving at beginning of month 325 Number of years 30 Interest rate…

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Q: Suppose you have a student loan of $35,000 with an APR of 6% for 40 years. Complete parts (a)…

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A: The future value (FV) of an annuity represents the total value of all cash flows from an annuity at…

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A: Present value means today’s value of money you expect to receive or pay in future.   PV = PMT…

Q: deposited in a bank that pays 6% interest, how large must your annual deposit be?

A: Information Provided: Present value = $3000 Future value = $15,000 Term = 10 years Interest rate =…

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Q: 1. Suppose you are paid $2400 per month and your employer's 401(k) matches your contributions by 50%…

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Q: Find how much money needs to be deposited now into an account to obtain $40,000 in 5 years if the…

A: Future value (FV) = $40,000 Period (n) = 5 Years Interest rate (r) = 7%

Q: You want to buy a nice road bike. You place $2,200 at the end of each year in an investment account…

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Q: You need to save $200 000 by making monthly deposit of 100 for 6 years. How much interest must you…

A: Rate of interest refers to the percentage of return on the investment.

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Q: Suppose you want to have $400,000 for retirement in 20 years. Your account earns 5.1% interest. How…

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Q: At your new job, you will be making monthly deposits of  $285 into a 401k.  If you think that you…

A: Data given: Monthly deposit=$285 N=6 years Rate=13.57%   Required: Amount in 6 years

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: Part 1)Step 1: Given Value for Calculation Compound = Quarterly = 4Present Value = pv = $10,000Rate…

Q: You want to retire in 20 years. You currently have $200,000, and think you will need $1.5 million at…

A:

Q: You want to retire in 25 years. You currently have $150,000, and think you will need $1.3 million at…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: You decide you need to generate 4,500 a month from your retirement savings to live comfortably. You…

A: Monthly retirement income=$4500Retirement life=30 yearsInheritance fund-$2000000Interest rate=8%

Q: You are saving for a new house. You place $40,000 into an investment account each year for five…

A: Future value refers to the monetary worth of an investment or cash flow at a future date, assuming…