Let's say a year of college currently costs $16,000 in today's dollars. If your clients' child...
Let's say a year of college currently costs $16,000 in today's dollars. If your clients' child is currently 2 years old and will start college at 18 years of age, how much will the first year of college cost?
Assume college expenses inflate at 3.6% per year, and you can earn an annual rate of return of 7.8% on your investments.
Homework Answers
rate positively ..
| Computation of first year of college cost | |||||
| we have to use financial calculator | |||||
| Put in calculator | |||||
| PV | -16000 | ||||
| PMT | 0 | ||||
| I | 3.60% | ||||
| N | 18-2 | 16 | |||
| Compute FV | $28,175.79 | ||||
| ans = | $28,175.79 | ||||
Add Answer to:
Let's say a year of college currently costs $16,000 in today's
dollars. If your clients' child...
a) Let's say a year of college currently costs $20,000 in today's dollars. If your clients' child is currently 9 years o...
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In order for your clients to reach their goal, let's say you've estimated that they need...
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In order for your clients to reach their goal, let's say you've estimated that they need...
In order for your clients to reach their goal, let's say you've estimated that they need to have $76,000 accumulated by the time their child starts college at age 18. To reach that goal, how much do they need to save at the end of each month if their child is currently 8 years old? Assume college expenses inflate at 4.4% per year, and you can earn an annual rate of return of 7.2% on your investments.
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Your clients want help figuring out how much they need to save for their child's education....
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please just reply with the answer to the question. i do not want to see any...
please just reply with the answer to the question. i do not want to
see any number or equations, just the number answer to the
question.
Question 1 1 pts Let's say your clients currently spend $80,000 (in today's dollars), and they want to spend 90% of that in retirement. If your clients are currently 44 years old and want to retire when they are 65, how much will their first year of retirement expenses be (in future dollars)? Assume...
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Question 5 1 pts Your clients want help figuring out how much they need to save each month so that they can reach their retirement goal. If your clients are currently 40 years old and want to retire when they are age 68, how much do they need to save at the end of each month to reach their goal? They currently have $190,000 saved for retirement. Assume the following: • Your clients currently spend $100,000 (in today's dollars), and...
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In order for your clients to reach their goal, let's say you've estimated that they need to have $76,000 accumulated by the time their child starts college at age 18. To reach that goal, how much do they need to save at the end of each month if their child is currently 8 years old? Assume college expenses inflate at 4.4% per year, and you can earn an annual rate of return of 7.2% on your investments.
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Question 3 1 pts In order for your clients to reach their retirement goal, let's say you've estimated that they need to have $2,800,000 accumulated by the time they retire at age 66. To reach that goal, how much do they need to save at the end of each month if they are currently 40 years old? They currently have $130,000 saved for retirement. Assume general inflation averages 3.4% per year, and based on their risk tolerance, your clients can...
please just reply with the answer to the question. i do not want to
see any number or equations, just the number answer to the
question.
Question 1 1 pts Let's say your clients currently spend $80,000 (in today's dollars), and they want to spend 90% of that in retirement. If your clients are currently 44 years old and want to retire when they are 65, how much will their first year of retirement expenses be (in future dollars)? Assume...
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