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the donar value o s o ng discount rate 8. Your grandmother recently surprised you and...
8. Your grandmother recently surprised you, and gave you $4,000 expressly for the purpose of starting...
8. Your grandmother recently surprised you, and gave you $4,000 expressly for the purpose of starting your retirement savings. Her only stipulation is that you have to invest the money now, and not touch any of it for the next 40 years (at which point you plan to retire). What will the value of this account be at the end of the 40 years under each of the following return assumptions (assume annual compounding)? a) 6% per year b) 12%...
8. Your grandmother recently surprised you, and gave you $4,000 expressly for the purpose of starting...
8. Your grandmother recently surprised you, and gave you $4,000 expressly for the purpose of starting your retirement savings. Her only stipulation is that you have to invest the money now, and not touch any of it for the next 40 years (at which point you plan to retire). What will the value of this account be at the end of the 40 years under each of the following return assumptions (assume annual compounding)? a) 6% per year b) 12%...
QUESTION 5 You would like to plan for your retirement. You have gathered or assumed the...
QUESTION 5 You would like to plan for your retirement. You have gathered or assumed the following information: You just turned 30 years of age, and currently have zero savings. You plan to work until you turn 50 years old, at which time you would like to retire. During retirement, assume that you will have no sources of income other than what you can earn on the money that you have saved up for retirement. For the...
Your grandmother sends you a check of $1,000, telling you to start investing early. So you...
Your grandmother sends you a check of $1,000, telling you to start investing early. So you invest the $1,000 in a market index fund with an expected return of 8% annually. You also place $5 in a drawer each day and plan to invest the accumulated savings ($1,825) from the drawer into the same market index fund at the end of the year. If you keep saving in this manner, how much will you have accumulated after 40 years? Select...
Practice Problems 1. You invest $8,000 in a savings account, the interest rate is 12% per...
Practice Problems 1. You invest $8,000 in a savings account, the interest rate is 12% per year and the length of time is 15 years. Compounding is monthly. What is the value of the savings account at the end of ten years? 2. What would be the answer if compounding is every six months? 3. How many periods does it take for money to double if the interest rate is 12% per period? 4. If the interest rate is 12%...
Homework Question for Time value of money You plan to retire in 30 years and plan...
Homework Question for Time value of money You plan to retire in 30 years and plan on saving $15,000 annually, starting next year, for the next 30 years. You expect to need $120,000 about 18 years from now for college tuition for your recently born daughter which must be paid out of these savings. You expect to live 35 years during retirement (the first retirement payment will be 31 years from today). a. If you assume an interest rate of...
You will get $450,000 from your rich uncle Jim in 15 years. The discount rate and...
You will get $450,000 from your rich uncle Jim in 15 years. The discount rate and the interest rate are 2%/year, compounded annually. What is the present value of this gift from your uncle. 1. $330,356.63 2. $331,356.63 3. $332,256.63 4. $333,256.63 5. $334,356.63 The retirement benefit program from your employer will send you 240 monthly checks of $5,000 after you retire. The first check will be a month from your retirement. The interest and discount rates are 0.2%/month, compounded...
Future Value of Ordinary Annuity 16. After consulting with your financial advisor, you figured that you...
Future Value of Ordinary Annuity 16. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $10,000 at the end of every year in your retirement account, how much will you have after 40 years? a. $2,590,565 17. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money...
Future Value of Annuity Due 19. After consulting with your financial advisor, you figured that you...
Future Value of Annuity Due 19. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $10,000 at the beginning of every year in your retirement account, how much will you have after 40 years? a. $2,797,810 20. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money...
please answer all in full 1. On your 1st birthday, you received a $10 savings account...
please answer all in full 1. On your 1st birthday, you received a $10 savings account earning 6% annually. How much will you have in the account on your 30th birthday if you don't withdraw any money before then? 2. Your partner just promised to you that he/she will give you a graduation gift by paying half of of a new car when you receive an MBA degree in 2 years. Suppose that you also have $9,000 to invest today...
8. Your grandmother recently surprised you, and gave you $4,000 expressly for the purpose of starting your retirement savings. Her only stipulation is that you have to invest the money now, and not touch any of it for the next 40 years (at which point you plan to retire). What will the value of this account be at the end of the 40 years under each of the following return assumptions (assume annual compounding)? a) 6% per year b) 12%...
8. Your grandmother recently surprised you, and gave you $4,000 expressly for the purpose of starting your retirement savings. Her only stipulation is that you have to invest the money now, and not touch any of it for the next 40 years (at which point you plan to retire). What will the value of this account be at the end of the 40 years under each of the following return assumptions (assume annual compounding)? a) 6% per year b) 12%...
Your grandmother sends you a check of $1,000, telling you to start investing early. So you invest the $1,000 in a market index fund with an expected return of 8% annually. You also place $5 in a drawer each day and plan to invest the accumulated savings ($1,825) from the drawer into the same market index fund at the end of the year. If you keep saving in this manner, how much will you have accumulated after 40 years? Select...
Practice Problems 1. You invest $8,000 in a savings account, the interest rate is 12% per year and the length of time is 15 years. Compounding is monthly. What is the value of the savings account at the end of ten years? 2. What would be the answer if compounding is every six months? 3. How many periods does it take for money to double if the interest rate is 12% per period? 4. If the interest rate is 12%...
Homework Question for Time value of money You plan to retire in 30 years and plan on saving $15,000 annually, starting next year, for the next 30 years. You expect to need $120,000 about 18 years from now for college tuition for your recently born daughter which must be paid out of these savings. You expect to live 35 years during retirement (the first retirement payment will be 31 years from today). a. If you assume an interest rate of...
Future Value of Ordinary Annuity 16. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $10,000 at the end of every year in your retirement account, how much will you have after 40 years? a. $2,590,565 17. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money...
Future Value of Annuity Due 19. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $10,000 at the beginning of every year in your retirement account, how much will you have after 40 years? a. $2,797,810 20. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money...
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