Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 7%. How much should you deposit monthly to accumulate $85,000 in 12 years?
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- Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 5%. How much should you deposit monthly to accumulate $85,000 in 15 years?Use the savings plan formula to answer the following question. Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 4%. How much should you deposit monthly to accumulate $81,000 in 17 years? You should invest $ each month?Use the savings plan formula to answer the following question. Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 7%. How much should you deposit monthly to accumulate $87,000 in 16 years? ..... You should invest $ each month. (Do not round until the final answer. Then round to two decimal places as needed.)
- Ethan is creating a college investment fund for his daughter. He will put in $21,000 per year for the next 17 years and expects to earn a 12% annual rate of return. How much money will his daughter have when she starts college? Use Appendix C to calculate the answer. Multiple Choice $1,014, 538 $1,015,551 $1,027,291 $1,026,5648. Your goal is to have a college fund for your child. Suppose you find a fund that offers an APR of 5% compounded monthly. Use Excel to create a table with months as the first column, payment in the second column and amount in account as the third. Use the table to determine how much should you deposit monthly to accumulate $85000 in 15 years.A couple wants to set up a college fund for their child. The fund will give the child $1,000 per month for 48 months. The first withdrawal will occur when the child turns 18 years old. Assume that the college fund will earn j12=6%. a) How much money will need to be in the account on the child's 18th birthday in order to sustain the withdrawals? b) How much money should be set aside to establish the fund on the child's first birthday?
- You would like to have $200,000 in a college fund in 15 years. How much do you need today if you expect to earn 12% while you are investing to pay for your child’s collegeYou plan to send your first born child for a 4-year degree with 4 annual payments. Your first payment will start in 20 years in the amount of $65,000 and grow by 9% per year. Assuming a discount rate of 7%, how much do you need to set aside today to fund your child's education? Use the $ symbol and round to the nearest thousand dollars.Mr. Wise is creating a college investment fund for his daughter. He will put in P850 per year for the next 15 years and expects to earn an 8% annual rate of return. How much money will his daughter have when she starts college? * P12,750 P23,079 P11,250 P24,003 P12,263
- A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $80,000 saved up for when she goes to college in 15 years, assuming the account earns a 8% annual return. Annual deposit:Your daughter is expected to the university next year. It is estimated that she will need 10,000 each year for the for years university education. You are planning to deposit a lump sum in an account that will yield 10% per anum to cater for her university education. How much should be deposited?A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $30,000 saved up for when she goes to college in 17 years, assuming the account earns a 4% return. Annual deposit: $