Paul Havlik promised his grandson Jamie that he would give him $7,300 5 years from today...

Question

Question

Answer 1

Answer #1

PV = FV:(1+i/n)^nt r=rate per period t= years x compounding Present value = $4,481.57 $7,300 = (1+10%/2)^(2*5)

Answer 2

Similar Homework Help Questions

Paul Havlik promised his grandson Jamie that he would give him $7,700 5 years from today...

Paul Havlik promised his grandson Jamie that he would give him $7,700 5 years from today for graduating from high school. Assume money is worth 8% interest compounded semiannually. What is the present value of this $7,700? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Paul Havlik promised his grandson Jamie that he would give him $6,300 7 years from today...

Paul Havlik promised his grandson Jamie that he would give him $6,300 7 years from today for graduating from high school. Assume money is worth 8% interest compounded semiannually. What is the present value of this $6,300? (Do not round intermediate calculations. Round your answer to the nearest cent.)
John Smith has a grandson, Joey, who just turned eight. His grandson wants to go to UMBC in the Fall of 2029. Mr. Smith would like to be able to give his grandson he can invest monthly in an extr...

John Smith has a grandson, Joey, who just turned eight. His grandson wants to go to UMBC in the Fall of 2029. Mr. Smith would like to be able to give his grandson he can invest monthly in an extremely safe investment and earn 6 % on his investment. Using the appropriate tables, Present value, Future value, Present Value of an Annuity or Future Value of an Annuity calculate the amount of Mr. Smith's monthly investment beginning August 1, 2019....

Don Williams wants to buy a boat five years from today. He will need $40,000. Calculate...

Don Williams wants to buy a boat five years from today. He will need $40,000. Calculate how much he needs today to put in the bank (10% compounded semiannually) to reach his goal in the future. (Round your answer to the nearest cent.)
Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's...

Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round Intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter’s...

Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter’s college bills for a 4-year degree. How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)

Sam Long anticipates he will need approximately $225,700 in 10 years to cover his 3-year-old daughter's...

Sam Long anticipates he will need approximately $225,700 in 10 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bil...

Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)
Jim Ryan, an owner of a Burger King restaurant, assumes that his restaurant will need a new roof in 9 years. He es...

Jim Ryan, an owner of a Burger King restaurant, assumes that his restaurant will need a new roof in 9 years. He estimates the roof cost him $9,500 at that time. What amount should Jim invest today at 6% compounded quarterly to be able to pay for the roof? (Do not round Intermediate calculations. Round your answer to the nearest cent.) Amount to be invested

sam long anticipates he will need approximately 225,400 in 13 years to cover his 3 year...

sam long anticipates he will need approximately 225,400 in 13 years to cover his 3 year okd daughters college bills for a 4 year degree. how much would he have to invest today at an interest rate of 6 percent compounded semiannually? Sam Long anticipates he will need approximately $225,400 in 13 years to cover his 3-year-old daughter's colege bills for a 4-year degree. How much would he have to invest today at an interest rate of 6 percent compounded...