You just graduated college with your Bachelors Degree and accepted a job offer at your dream...
You just graduated college with your Bachelors Degree and accepted a job offer at your dream company. On January 1, 2020, you decide to celebrate by purchasing a Mercedes Convertible (see picture above) for $52,455. You have a 720 credit score, therefore you were able to get a 5% interest rate on a 7 year loan. You will be making monthly payments. Using Excel, prepare a professional amortization schedule for the entire 7 years. It must include the payment and...
22. You have graduated from a degree in sports business and just landed your dream job as a sports agent. Your first client is an up and coming free solo climber. You are looking for sponsors for your client. Gatorade will contract with your client for five years if your client will post at least 5 Instagram pictures a month with a strong presence of the beverage in each photo as your client engages in free solo climbing activities. Gatorade...
You just graduated from college and are starting your new job. You realized the importance to save for the future and have figured out that you will save $1,000 per month for the next 15 years; and then increase to $7,000 per month for the following 4 years. The amount accumulated at the end of these investments will be your retirement egg nest. You plan to start retirement and start withdrawing monthly amounts the following month (you will be in...
You've graduated from college and landed a good job. You want to replace your car, but don't want to take out a car loan. Instead, you decide to invest $400 per month in the stock market and hope to earn 6%. If the market performs as you're hoping, how many years will it take to accumulate $20000? Ignore taxes. Solve using Excel and show all formulas used.
You just graduated from college and are starting your new job. You realized the importance to save for the future and have figured out that you will save $3,000 per quarter for the next 12 years; and then increase to $5,000 per quarter for the following 7 years. The amount accumulated at the end of these investments will be your retirement egg nest. You plan to start retirement and start withdrawing quarterly amounts the following quarter (you will be in...
You just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You estimate you will need $20,000 in 5 years for the down payment. (Note: a down payment is a deposit a home buyer must make in order to get a mortgage loan from a bank to buy the house.) 3a. Assume you can earn 6% interest (APR) on your savings, and you make a deposit in your savings...
Please complete on Excel and show any computations Thank you 1. Shop online for your dream car and get its price. Attach documentation on the price (screen print). 2. Shop around (online) for financing and select the best financing rate available for a 4-year (48 months) loan. Attach documentation on financing rates. (Do not apply for actual loan – this is simply an exercise) 3. Pay 10% down. How much are you financing today? 4. Using MS Excel features, compute...
Question 3 (0.5 points) You just graduated from college and landed your first "real" job, which pays $25,000 a year. In 12 years how much will you need to earn to maintain the same purchasing power if inflation is 0.75% per year? Your Answer: Answer Question 4 (0.5 points) You save $600 a year into a 401(k) account that you invest in a mutual fund earning 7% per year. You plan to retire in 30 years. How much money will...
1. You and your spouse have found your dream home. The selling price is $220,000; you will put $50,000 down and obtain a 30-year fixed-rate mortgage at 12% compounded monthly for the balance a) Assume that monthly payments begin in one month. What will each payment be? b) How much interest will you pay (in dollars) over the lifetime of the loan? (Assume you make each of the required 360 payments on time.) c) Although you will get a 30-year...
Instructions You Have Decided to use a 25 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.18%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 1 Years and 1 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question Amortization $464372.71 25 Years P/Y C/Y Present Value of...