ZuoTi.Pro
Question

You are planning to accumulate ¥14,000,000 to purchase a home in Tokyo in 8 years with...

  1. You are planning to accumulate ¥14,000,000 to purchase a home in Tokyo in 8 years with Dia-Ichi Kangyo Bank. For the next 8 years, you earn an annual return of 12% compounded semiannually. How much should you deposit with Dia-Ichi Kangyo Bank every six months?
business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Future value = pmtx ((1+r)^n-1))/ PMT = FV = ((1+r)^n-1)/ Save each six months = PMT = 545,330.01 [ 14,000,000/(((1.06-16)-1)

0 0
Add a comment
Know the answer?
Add Answer to:
You are planning to accumulate ¥14,000,000 to purchase a home in Tokyo in 8 years with...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 1. You would like to save $70 000 in 10 years. To accumulate this amount, you...

    1. You would like to save $70 000 in 10 years. To accumulate this amount, you plan to make a regular deposit with an equal amount of cash into a saving account at the end of each year. This account will earn 6% p.a interest compounded annually. Your first payment will be made at the end of this year. a. How much must you deposit annually to accumulate this amount in 10 years? b. If you decide to make a...

  • Complex present value​) You would like to have ​$56 comma 000 in 16 years. To accumulate...

    Complex present value​) You would like to have ​$56 comma 000 in 16 years. To accumulate this amount you plan to deposit each year an equal sum in the​ bank, which will earn 6 percent interest compounded annually. Your first payment will be made at the end of the year. a. How much must you deposit annually to accumulate this​ amount? b. If you decide to make a large​ lump-sum deposit today instead of the annual​ deposits, how large should...

  • (Complex present value) You would like to have $30,000 in 16 years. To accumulate this amount...

    (Complex present value) You would like to have $30,000 in 16 years. To accumulate this amount you plan to deposit each year an equal sum in the bank, which will earn 7 percent interest compounded annually. Your first payment will be made at the end of the year. a. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump-sum deposit today instead of the annual deposits, how large should this lump-sum...

  • You deposit $1,500 at the end of every year for four years. How much will accumulate...

    You deposit $1,500 at the end of every year for four years. How much will accumulate in four years if you earn six percent compounded annually? Use Excel or a financial calculator for computation. Round answer to the nearest dollar.

  • If you wish to accumulate 10% of the $1.970,000 purchase price for a new home in...

    If you wish to accumulate 10% of the $1.970,000 purchase price for a new home in 5 years, how much must you deposit today in an account that pays a quoted annual interest rate of 6.4% with semi-annual compounding of interest? $143.770 5139,021 162.065 158946

  • Sandy Beach wants to have $201,174.75 in six years. Sandy intends to accumulate that amount by ma...

    Sandy Beach wants to have $201,174.75 in six years. Sandy intends to accumulate that amount by making equal semi-annual cash deposits at the beginning of every six months for six years into a bank accou nt that pays 12% interest compounded semi-annually. Calculate the amount of each semi-annual deposit. You will need to use the time value of money table factor s posted in carmen to answer this question. To access these factors, click modules and then scroll to week...

  • I need help on question 8. Time Value of Money Exercise: Question 1: Assume you deposit...

    I need help on question 8. Time Value of Money Exercise: Question 1: Assume you deposit $700 every three months at ercent annual rate, compounded $700 every three months at a 6 percent am much will you have at the end of 20 years? Question 2: You borrow a five-year $13.000 loan with monthly percentage rate (APR) on the loan? 3,000 loan with monthly payments of $250. What is the annual Question 3: How much would you have to invest...

  • You are planning to purchase a car in three years and wish to have $5,000 for...

    You are planning to purchase a car in three years and wish to have $5,000 for a down payment. You have access to an account that earns 10%, compounded monthly. How much do you need to deposit into the account each month for the next three years in order to reach your goal? $161.75 $119.67 $3,756.57 $3,708.70

  • As part of your financial planning, you wish to purchase a new car five years from...

    As part of your financial planning, you wish to purchase a new car five years from today. As of today, the car costs $14000, and the bank has agreed to provide loans. Consider the following situations to estimate the actual cost of the vehicle: 1. Calculate the price of the car after five years if the interest rate for every six months is 3% and compounded monthly. 2. Estimate the value of the vehicle after five years if the quarterly...

  • The Nicor family is planning to purchase a new home 8 years from now. If they...

    The Nicor family is planning to purchase a new home 8 years from now. If they have $290,000 now, how much will be available at the time of purchase? The fund grows at a compound rate of 13% per year 8 years from now, will be available. ed Book

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT