can
someone give me the formula to calculate the FV(65)? thanks
Homework Answers
Francis makes deposits into a retirement fund earning an annual effective rate of 7%. The first deposit of $1,000 is made on his 38th birthday and the last deposit is made on his 64th birthday. Every year his deposit increases by 3%.]
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can
someone give me the formula to calculate the FV(65)? thanks
1. Francis makes deposits into...
To calculate the future value of an annuity (savings plan), we use the formula: FV =...
To calculate the future value of an annuity (savings plan), we use the formula: FV = PMT[(1 + rin) nt) - 1]/(r/n) where PMT is the payment amount that is deposited on a regular basis, r is the APR, n is the number of regular payments made each year and FV is the future value after t years. At the age of 25, Kyle starts an IRA (Individual Retirement Account) to save for retirement. He deposits $200 into the account...
Please write down the intermidiate steps clearly. Intermidiate answers should be stated in 4 deci...
Please write down the intermidiate steps clearly. Intermidiate
answers should be stated in 4 decimals in $/% while final answers
in 2 decimals in $/%.
Paul is celebrating his 43d birthday today and is planning for a retirement savings his family [Planned expenses] - Paul's daughter is now 6 years old and he plans to send her to a top local university in 12 years. programe for Currently, the cost of studying (tuition fees and living expenses) is S150,000 per...
question A and B! thanks! Homework: HW_CH5Part2 Save Score: 0 of 4 pts < 24 of...
question A and B! thanks!
Homework: HW_CH5Part2 Save Score: 0 of 4 pts < 24 of 26 (7 complete) HW Score: 10%, 10 of 100 pts Problem 5-57 (similar to) Question Help (Complex annuity) Upon graduating from college 40 years ago, Dr. Nick Riviera was already thinking of retirement. Since then he has made deposits into his retirement fund on a monthly basis in the amount of $110. Nick has just completed his final payment and is at last ready...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Use Excel. (PV, FV, or PMT) 3) Ryan Knight, age 21, saves X amount at the...
Use Excel. (PV, FV, or PMT)
3) Ryan Knight, age 21, saves X amount at the end of each year for the next 34 years as a part of his retirement plan that pays 9% annual interest. Once the 34 deposits are made, Ryan lets his account accumulate interest but waits to withdraw until he retires. Ryan retires when he is 65 and decides to withdraw equal amounts of $145,000 (lives a lavish life) for the next 17 years, at...
4-1 Rose recently graduated in engineering. Her 5 employer will give her a raise of $6500...
4-1 Rose recently graduated in engineering. Her 5 employer will give her a raise of $6500 per year if she passes the FE exam (Fundamentals of Engineering) (a) Over a career of 45 years, what is the present worth of the raise if the interest rate is 4%? (b) What is the future worth at Year 45? (c) Incentive pay systems can create ethical dilem- mas in the workplace. Describe one each from the perspective of the employer and the...
THE SETUP: Your best friend Dave just celebrated his 24th birthday and wants to start saving...
THE SETUP: Your best friend Dave just celebrated his 24th birthday and wants to start saving for his anticipated retirement. Dave plans to retire in 36 years and believes that he will have 25 good years of retirement and believes that if he can withdraw $125,000 at the end of each year, he can enjoy his retirement. Assume that a reasonable rate of interest for Dave for all scenarios presented below is 6.5% per year. This is an annual rate,...
1. Calculate the accumulated value of an ordinary annuity of $4,200 a year for 6 years...
1. Calculate the accumulated value of an ordinary annuity of $4,200 a year for 6 years if the money is worth 71 2 %. 2. Find the future value of the cash flow of $600 a month for 5 years at 9% interest compounded monthly. 3. If Gabe makes a $450 deposit into his savings fund at the end of each quarter for 6 years, how much will he be able to collect at the end of the sixth year...
4-6 A man buys a ear for $18,000 with no money down. He pays for the...
4-6 A man buys a ear for $18,000 with no money down. He pays for the car in 30 equal monthly pay- ments with interest at 12% per annum, compounded monthly. What is his monthly loan payment? 4-1 Rose recently graduated in engineering. Her employer will give her a raise of $6500 per year if she passes the FE exam (Fundamentals of Engineering). (a) Over a career of 45 years, what is the present worth of the raise ifthe interest...
3. You want to buy a car, and a local bank will lend you $20,000. The...
3. You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 12%, with interest paid monthly. What is the monthly loan payment? Round your answer to the nearest cent. $ What is the loan's EFF%? Round your answer to two decimal places. % 4. Find the present values of the following cash flow streams. The appropriate interest rate...
To calculate the future value of an annuity (savings plan), we use the formula: FV = PMT[(1 + rin) nt) - 1]/(r/n) where PMT is the payment amount that is deposited on a regular basis, r is the APR, n is the number of regular payments made each year and FV is the future value after t years. At the age of 25, Kyle starts an IRA (Individual Retirement Account) to save for retirement. He deposits $200 into the account...
Please write down the intermidiate steps clearly. Intermidiate
answers should be stated in 4 decimals in $/% while final answers
in 2 decimals in $/%.
Paul is celebrating his 43d birthday today and is planning for a retirement savings his family [Planned expenses] - Paul's daughter is now 6 years old and he plans to send her to a top local university in 12 years. programe for Currently, the cost of studying (tuition fees and living expenses) is S150,000 per...
question A and B! thanks!
Homework: HW_CH5Part2 Save Score: 0 of 4 pts < 24 of 26 (7 complete) HW Score: 10%, 10 of 100 pts Problem 5-57 (similar to) Question Help (Complex annuity) Upon graduating from college 40 years ago, Dr. Nick Riviera was already thinking of retirement. Since then he has made deposits into his retirement fund on a monthly basis in the amount of $110. Nick has just completed his final payment and is at last ready...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Use Excel. (PV, FV, or PMT)
3) Ryan Knight, age 21, saves X amount at the end of each year for the next 34 years as a part of his retirement plan that pays 9% annual interest. Once the 34 deposits are made, Ryan lets his account accumulate interest but waits to withdraw until he retires. Ryan retires when he is 65 and decides to withdraw equal amounts of $145,000 (lives a lavish life) for the next 17 years, at...
4-1 Rose recently graduated in engineering. Her 5 employer will give her a raise of $6500 per year if she passes the FE exam (Fundamentals of Engineering) (a) Over a career of 45 years, what is the present worth of the raise if the interest rate is 4%? (b) What is the future worth at Year 45? (c) Incentive pay systems can create ethical dilem- mas in the workplace. Describe one each from the perspective of the employer and the...
THE SETUP: Your best friend Dave just celebrated his 24th birthday and wants to start saving for his anticipated retirement. Dave plans to retire in 36 years and believes that he will have 25 good years of retirement and believes that if he can withdraw $125,000 at the end of each year, he can enjoy his retirement. Assume that a reasonable rate of interest for Dave for all scenarios presented below is 6.5% per year. This is an annual rate,...
4-6 A man buys a ear for $18,000 with no money down. He pays for the car in 30 equal monthly pay- ments with interest at 12% per annum, compounded monthly. What is his monthly loan payment? 4-1 Rose recently graduated in engineering. Her employer will give her a raise of $6500 per year if she passes the FE exam (Fundamentals of Engineering). (a) Over a career of 45 years, what is the present worth of the raise ifthe interest...
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