Homework Answers
Future value of the amount = pv (1+r)^n
= 5,200 (1+0.05)^10
= 5,200 (1.05)^10
= 5,200 × 1.6289
= $8,470.25
Therefore the value of $5,200 in 2017 will be $8,470.25
Add Answer to:
Problem 9-9 (LO9.6) In 2007, Joelle spent $5,200 on her health care. If this amount increased...
Recently, per capita spending on health care in the United States was about $7,000. If this...
Recently, per capita spending on health care in the United States was about $7,000. If this amount increased by 6 percent a year, what would be the amount of per capita spending for health care in 8 years? Use Exhibit 1.A (Round time value factor to 3 decimal places and final answer to the nearest whole number.) Answer is complete but not entirely correct. Future per capita $ 13,032 spending
Problem 1-9 (LO1.3) Carla Lopez deposits $1,600 a year into her retirement account. If these funds...
Problem 1-9 (LO1.3) Carla Lopez deposits $1,600 a year into her retirement account. If these funds have an average earnings of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B. (Round your FV factor to 3 decimal places and final answer to the nearest whole dollar.) Value of retirement account
As of 2015, per capita spending on health care in the United States was about $9000....
As of 2015, per capita spending on health care in the United States was about $9000. If this amount increased by 8 percent a year, what would be the amount per capita spending for health care in 14 years? Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D] (Round your answer to the nearest whole number. Your Answer:
Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $90 a month. What would be...
Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $90 a month. What would be the future value of this reduced spending over the next 10 years? (Assume an annual deposit to her savings account, and interest rate of 4 percent.) Use Exhibit 1.B. (Round time value factor to 3 decimal places and final an annual answer to 2 decimal places.) Future value
Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $85 a month. What would be...
Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $85 a month. What would be the future value of this reduced spending over the next 10 years? (Assume an annual deposit to her savings account, and an annual interest rate of 4 percent.) Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value References eBook &Resources Worksheet Difficulty: Basic Problem 2-13 (LO2.4) Learning Objective: 02-04 Connect money management activities...
Brenda plans to reduce her spending by $90 a month. Calculate the future value of this...
Brenda plans to reduce her spending by $90 a month. Calculate the future value of this increase in savings over the next 18 years. (Assume an annual deposit to her savings account, and an annual interest rate of 8 percent.) Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value
Problem 2-12 (LO2.4) Brenda plans to reduce her spending by $30 a month. What would be...
Problem 2-12 (LO2.4) Brenda plans to reduce her spending by $30 a month. What would be the future value of this reduced spending over the next 13 years? (Assume an annual deposit to her savings account and an annual interest rate of 3 percent.) Use Exhibit 1-B. (Round FVA facto to 3 decimal places and final answer to 2 decimal places.) Future value s 17,109.12
Problem 9-2 Estimating a Monthly Mortgage Payment (L09-4) Estimate the affordable monthly mortgage payment, the affordable...
Problem 9-2 Estimating a Monthly Mortgage Payment (L09-4) Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. (Refer to Exhibit 9-8 and Exhibit 9-9) (Round time value factor to 2 decimal places, Intermediate and final answers to the nearest whole number.) Monthly gross income Down payment to be made (percent of purchase price) Other debt (monthly payment) Monthly estimate for property taxes and insurance 30-year loan $6,800 15 Percent...
Jenny Lopez estimates that as a result of completing her master’s degree, she will earn an additional $10,000 a year for...
Jenny Lopez estimates that as a result of completing her master’s degree, she will earn an additional $10,000 a year for the next 30 years. (a) What would be the total amount of these additional earnings? (b) What would be the future value of these additional earnings based on an annual interest rate of 8 percent? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
(Ignore income taxes in this problem.) Jane Summers has just inherited S640,000 from her mother's estate....
(Ignore income taxes in this problem.) Jane Summers has just inherited S640,000 from her mother's estate. She is considering investing part of these funds in a small catering business. She would need to purchase a delivery van and various equipment costing $104,000 to equip the business and another $50,800 for inventories and other working capital needs. Rent on the building used by the business will be $25,200 per year. Jane's marketing studies indicate that the annual cash inflow from the...
Recently, per capita spending on health care in the United States was about $7,000. If this amount increased by 6 percent a year, what would be the amount of per capita spending for health care in 8 years? Use Exhibit 1.A (Round time value factor to 3 decimal places and final answer to the nearest whole number.) Answer is complete but not entirely correct. Future per capita $ 13,032 spending
Problem 1-9 (LO1.3) Carla Lopez deposits $1,600 a year into her retirement account. If these funds have an average earnings of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B. (Round your FV factor to 3 decimal places and final answer to the nearest whole dollar.) Value of retirement account
Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $90 a month. What would be the future value of this reduced spending over the next 10 years? (Assume an annual deposit to her savings account, and interest rate of 4 percent.) Use Exhibit 1.B. (Round time value factor to 3 decimal places and final an annual answer to 2 decimal places.) Future value
Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $85 a month. What would be the future value of this reduced spending over the next 10 years? (Assume an annual deposit to her savings account, and an annual interest rate of 4 percent.) Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value References eBook &Resources Worksheet Difficulty: Basic Problem 2-13 (LO2.4) Learning Objective: 02-04 Connect money management activities...
Brenda plans to reduce her spending by $90 a month. Calculate the future value of this increase in savings over the next 18 years. (Assume an annual deposit to her savings account, and an annual interest rate of 8 percent.) Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value
Problem 2-12 (LO2.4) Brenda plans to reduce her spending by $30 a month. What would be the future value of this reduced spending over the next 13 years? (Assume an annual deposit to her savings account and an annual interest rate of 3 percent.) Use Exhibit 1-B. (Round FVA facto to 3 decimal places and final answer to 2 decimal places.) Future value s 17,109.12
Problem 9-2 Estimating a Monthly Mortgage Payment (L09-4) Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. (Refer to Exhibit 9-8 and Exhibit 9-9) (Round time value factor to 2 decimal places, Intermediate and final answers to the nearest whole number.) Monthly gross income Down payment to be made (percent of purchase price) Other debt (monthly payment) Monthly estimate for property taxes and insurance 30-year loan $6,800 15 Percent...
(Ignore income taxes in this problem.) Jane Summers has just inherited S640,000 from her mother's estate. She is considering investing part of these funds in a small catering business. She would need to purchase a delivery van and various equipment costing $104,000 to equip the business and another $50,800 for inventories and other working capital needs. Rent on the building used by the business will be $25,200 per year. Jane's marketing studies indicate that the annual cash inflow from the...
Most questions answered within 3 hours.
-
Calculate the number density of argon gas at a temperature of
24C and a pressure of...
asked 1 hour ago -
Alternative
Classification
How to Estimate
Probabilities from Data? ( For continuous Attributes)
And How to generate...
asked 1 hour ago -
An explosion breaks a 20.0-kg object into three parts. The
object is initially moving at a...
asked 2 hours ago -
Calculate the approximate number of residues of Rubisco, which
is involved in carbon fixation in plants,...
asked 3 hours ago -
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 4 hours ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 4 hours ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 4 hours ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 5 hours ago -
What would be the input/output characteristic of a circuit
obtained by putting two of your 2's-complementers...
asked 5 hours ago -
In Drosophila, the transition from the syncytial blastoderm
stage to the cellular blastoderm stage is a...
asked 5 hours ago -
Project management question:
Name 3 different types of resources (hint: humans are one
type)
asked 5 hours ago -
Consider the following reaction: C 2H 2( g) + 2H 2( g) C 2H 6(
g)...
asked 5 hours ago