The money that we need to put today is computed as follows:
= $ 42,000 / 1.098
= $ 21,078.38 Approximately
Problem 6-5 How much would you have to years if the interest rate is 9%? Round...
Problem 6-11 How much would you have to save each year to have $65,000 in 12 years if the interest rate is expected to be 9%? Round PVFA values in intermediate calculations to four decimal places. Round the answer to the nearest cent.
Solve the problem 9) a. How much money will you have in 5 years if you invest $0245 at 4% interest compounded wookly? b. How much interest did the investment earn?
Time value Personal Finance Problem You have S2.100 to invest today at 9% interest compounded annually a. Find how much you will have accumulated in the account at the end of (1) 4 years, (2) 8 years, and (3) 12 years . Use your findings in part a to calculate the amount of interest earned in (1) the first 4 years (years 1 to 4), (2) the second 4 years (years 5 to 8), and (3) the third 4 years...
How much would you need to deposit in an account each month in order to have $30,000 in the account in 9 years? Assume the account earns 2.5% interest. Round your answer to the nearest cent as needed.
1. 2. 3. If you lend $1,000 to a friend for 5 years at an interest rate of 2%, how much will she owe you in 5 years? Round to the nearest cent. Numeric Answer: If you borrow $10,000 for 10 years at an interest rate of 5%, what are the annual payments you'd have to make to pay it off? Round to the nearest cent. Numeric Answer: You are about to buy a Tesla Model 3 for $38,990. If...
1. What is the amount you would need to invest today or order to have $30,000 in 20 years and your investment has a 5% rate of return that is compounded annually? Round your answer to the nearest cent. 2. How much would you need to invest today in order to receive a monthly payment of $500 for 3 years. At the end of the three years there will be nothing left in the investment. This investment will yield 12%....
Given an interest rate of 9% guaranteed for the next 6 years, how much money would on need to be given presently as a lump sum in order to finance expenditures of $10,000 to occur at the end of each of the next 6 years?
if you invested $4200 into an account that pays 14.0% annual interest, how much would be in the account after 20 years? 1, How much must be invested into an account paying 6.5% annual interest to have $15,000 in the account after 4 years? 2, 3. What interest rate is required for a principal to triple in 15 years? 4, $10,000 is invested into an account paying 6% annual interest. How long will it take the $10,000 5. If $1000...
Question 9 5 pts You invest $1 at a 10 percent interest rate for 50 years. How many doublings does the investment experience? Give your answer rounded to the nearest integer. Question 10 5 pts How many doubling periods do you have to wait for 1 cent to grow to $100 trillion? Give your answer rounded to the nearest integer.
Time value Personal Finance Problem You have S 1,500 to invest today at 7% interest compounded annually. a. Find how much you will have accumulated in the account at the end of (1) 3 years, (2) 6 years, and (3) 9 years. b. Use your findings in part a to calculate the amount of interest eamed in (1) the first 3 years (years 1 to 3), (2) the second 3 years (years 4 to 6), and (3) the third 3...