Brief Exercise 6-6
Leon Madison needs $357,600 in 10 years.
Click here to view factor tables
How much must he invest at the end of each year, at 5% interest, to
meet his needs? (Round factor values to 5 decimal
places, e.g. 1.25124 and final answers to 0 decimal places, e.g.
458,581.)
Investment amount |
$ |
Future value of annuity=Annuity[(1+rate)^time period-1]/rate
357600=Annuity[(1.05)^10-1]/0.05
357600=Annuity*12.57789
Annuity=357600/12.57789
=$28431(Approx).
Brief Exercise 6-6 Leon Madison needs $357,600 in 10 years. Click here to view factor tables...
Newman Madison needs $238,900 in 10 years. Click here to view factor tables How much must he invest at the end of each year, at 5% interest, to meet his needs? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.) Investment amount ta $
Morgan Madison needs $244,400 in 10 years. Click here to view factor tables How much must he invest at the end of each year, at 5% interest, to meet his needs? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Alan Madison needs $244,400 in 10 years. Click here to view factor tables How much must he invest at the end of each year, at 5% interest, to meet his needs? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Brief Exercise 6-2 Steve Bautista needs $28,800 in 4 years. Click here to view factor tables What amount must he invest today if his investment earns 8% compounded annually? What amount must he invest if his investment earns 8% annual interest compounded quarterly? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Investment at 8% annual interest $ Investment at 8% annual interest, compounded quarterly $
Brief Exercise 6-5 Stacy Medavoy will invest $5,500 a year for 19 years in a fund that will earn 10% annual interest. Click here to view factor tables If the first payment into the fund occurs today, what amount will be in the fund in 19 years? If the first payment occurs at year-end, what amount will be in the fund in 19 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to decimal places, e.g....
Daniel Bautista needs $21,000 in 6 years. Click here to view factor tables What amount must he invest today if his investment earns 8% compounded annually? What amount must he invest if his investment earns 8% annual interest compounded quarterly? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Investment at 8% annual interest $enter a dollar amount rounded to 0 decimal places Investment at 8% annual interest, compounded quarterly $enter...
Edward Bautista needs $24,000 in 5 years. Click here to view factor tables What amount must he invest today if his investment earns 12% compounded annually? What amount must he invest if his investment earns 12% annual interest compounded quarterly? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, eg. 458,581.) Investment at 12% annual interest Investment at 12% annual Interest, compounded quarterly
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Chris withdraws the accumulated amount of money. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO TEXT Click here to view factor tables Compute the amount Chris would withdraw assuming the investment earns...
Exercise 6-2 Leon Jackson invests $44,300 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Leon withdraws the accumulated amount of money. Compute the amount Leon would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.) Total withdrawn $enter total withdrawn in dollars rounded to 0 decimal places LINK TO TEXT LINK TO TEXT LINK TO VIDEO Click here...
Brief Exercise 6-10 Alan Quincy wants to withdraw $32,900 each year for 10 years from a fund that earns 4% interest. Click here to view factor tables How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) First withdrawal at year-end $ First withdrawal immediately LINK...