Your favorite uncle wants to give each of his favorite nieces and nephews $30,000 now while he is still alive so he can appreciate the benefit of the gratitude. Your goal is to save the money he gives you so when you get older you'll have money to start a business. What will be the value of your investment if the rate you can earn on your investment is 10% compounded semi annually for 7 years?

Vijay

The Jones want to save $95,000.00 in 5 years for a down payment on a house. If they make monthly deposits in an account paying 5% compounded monthly, what is the size of the payments that are required to meet their goal?

Assume that you and your family want to go on vacation in 5 years. You are planning to save for the trip.  The estimated cost of the trip will be $10,000.  You have found an investment that will pay 6% annual interest for the next 5 years. Using Excel, calculate the dollar amount that will be required to invest today to reach the financial expense for your vacation.

Can you help me work out this problem in detail?   Ben wants to receive $6,000 a year for 10 years. How much must he invest today in an annuity that pays 7% annually?

You and your sister are planning a large anniversary party 3 years from today for your parents' 50th wedding anniversary. You have estimated that you will need $6,500 for this party. You can earn 2.6 percent compounded annually on your savings. How much would you and your sister have to deposit today in one lump sum to pay for the entire party? Can the excel and calculator solution be provided?

you want to have $10,000 in 5 years and can earn 3.2% annually. How much must you deposit today to achieve your goal?

You currently have $12,000 saved up in your bank account. You believe that 2 years from now, some of your generous relatives will give you a combined gift of $5,000 as a college graduation present. If you can earn 4.5% annual compound interest on your savings, how many years will it take you, from today, to be able to afford the car you'd like to purchase, which costs $25,000?

You believe you will need to have saved $480,000 by the time you retire in 30 years in order to live comfortably. You also believe that you will inherit $115,000 in 5 years. a) If the interest rate is 6% per year, what is the future value of your inheritance at retirement? b) How much additional money must you save to meet your retirement goal, assuming you save your entire inheritance?

You believe you will need to have saved $593,000 by the time you retire in 30 years in order to live comfortably. You also believe that you will inherit $113,000 in 5 years. 1)  If the interest rate is 7% per year, what is the future value of your inheritance at retirement?       2)  How much additional money must you save to meet your retirement goal, assuming you save your entire inheritance?