Homework Answers
Future value of single sum = single sum x FAF
therefore,
Single sum = future value of single sum/FVF
= $225400/2.15659
= $104517
therefore, Sam needs to invest $104517 today to get $225400 after 13 years
where,
interest rate = 6%/2 = 3%
number of periods = 13 x 2 = 26
FVF(3%, 26) = 2.15659
Add Answer to:
sam long anticipates he will need approximately 225,400 in 13
years to cover his 3 year...
Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's...
Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round Intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $225,700 in 10 years to cover his 3-year-old daughter's...
Sam Long anticipates he will need approximately $225,700 in 10 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bil...
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)
ne my work Sam Long anticipates he will need approximately $226,200 in 15 years to cover...
ne my work Sam Long anticipates he will need approximately $226,200 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter’s...
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter’s college bills for a 4-year degree. How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)
here's the solution for the problem but still not coming up with the answer. how to...
here's the solution for the problem but still not
coming up with the answer. how to calculate the problem on
calculator?
1. Sammy anticipates that he will need approximately $250,000 in 17 years to cover his 1- year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8% compounded monthly? 1113 69% = 5.82 1310 Solution: Sammy would need to invest $65,032.18 into the account today to make $250,000...
A father is trying to save for his daughter's wedding in two years. (Long engagement!). He...
A father is trying to save for his daughter's wedding in two years. (Long engagement!). He thinks he can make the following contributions to an account: $14,275.00 today and $13,915.00 in one year. The father thinks he can earn 7.00 % in the market each of the next two years. If the wedding is expected to cost $58,985.00 two years from today,how much will he need to contribute at the time of the wedding to cover its cost? Answer Format:...
Sam Long anticipates he will need approximately $227,000 in 11 years to cover his 3-year-old daughter's colle...
Sam Long anticipates he will need approximately $227,000 in 11 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10 % compounded semiannually? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount Present value interest factor of $1 per period at i% for n periods, PVIIF(i.n). 80% 10.0% 8.5 % 0.9217 08495 078290 0.7350 07216 06650...
Jim Smith believes that in 30 years he will need $80,000 to buy a retirement cottage....
Jim Smith believes that in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compounded annually, how much will he have to invest today to reach his retirement goal? (Round your answer to the nearest cent.)
Section 1: Short case studies (2marks each, total 10 marks) 1. Salman has only AED 70,000...
Section 1: Short case studies (2marks each, total 10 marks) 1. Salman has only AED 70,000 today but needs AED 150,000 to buy a new dream car. How long will he has to wait to buy the car if she can earn 13 percent compounded annually on her savings? 2. Ali wants to have AED 70,000,000 in cash to buy a furnished apartment 5 years from today in JLT. She expects to earn 11 percent per year, compounded semiannually, on...
Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round Intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $225,700 in 10 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)
ne my work Sam Long anticipates he will need approximately $226,200 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount
here's the solution for the problem but still not
coming up with the answer. how to calculate the problem on
calculator?
1. Sammy anticipates that he will need approximately $250,000 in 17 years to cover his 1- year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8% compounded monthly? 1113 69% = 5.82 1310 Solution: Sammy would need to invest $65,032.18 into the account today to make $250,000...
A father is trying to save for his daughter's wedding in two years. (Long engagement!). He thinks he can make the following contributions to an account: $14,275.00 today and $13,915.00 in one year. The father thinks he can earn 7.00 % in the market each of the next two years. If the wedding is expected to cost $58,985.00 two years from today,how much will he need to contribute at the time of the wedding to cover its cost? Answer Format:...
Sam Long anticipates he will need approximately $227,000 in 11 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10 % compounded semiannually? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount Present value interest factor of $1 per period at i% for n periods, PVIIF(i.n). 80% 10.0% 8.5 % 0.9217 08495 078290 0.7350 07216 06650...
Section 1: Short case studies (2marks each, total 10 marks) 1. Salman has only AED 70,000 today but needs AED 150,000 to buy a new dream car. How long will he has to wait to buy the car if she can earn 13 percent compounded annually on her savings? 2. Ali wants to have AED 70,000,000 in cash to buy a furnished apartment 5 years from today in JLT. She expects to earn 11 percent per year, compounded semiannually, on...
Most questions answered within 3 hours.
-
Lowell Corp. sells $100,000 of bonds to private investors. The
bonds are due in five years,...
asked 1 hour ago -
3) Do you believe that Disney’s
acquisition-based growth strategy is sustainable?
4) Which competencies support this...
asked 1 hour ago -
Rank the following three stocks by their total risk level highest
to lowest night writer has...
asked 1 hour ago -
A local
electronic company primarily manufactures four highly technical
telecommunication products. Each product must be processed...
asked 3 hours ago -
•Describe the basic structure of collagen monomers •Explain how
amino acid composition of collagen contributes to...
asked 4 hours ago -
Compute the sample correlation coefficient
r for each of the following data sets.
(Use 3 decimal...
asked 5 hours ago -
5a. What are the advantages and disadvantages of Proxy ARP?
b. What is the TTL field...
asked 5 hours ago -
An ice cube (density = 900[kg/m3]) with a side length of
2.54[cm] is held by a...
asked 6 hours ago -
would you say that leaders in the international context are born
or made? That is, can...
asked 7 hours ago -
Instructions
Read the Digital Trends article "Solid state drives are speedier
than hard disk drives. Are...
asked 7 hours ago -
A multiple-choice test consists of 29 questions with possible
answers of a, b, c, d. Estimate...
asked 7 hours ago -
Question 1: Ethanol is the active ingredient of alcoholic
beverages. It is also s a possible...
asked 7 hours ago