Future value of annuity=Annuity[(1+rate)^time period-1]/rate
=8100[(1.02)^5-1]/0.02
=8100*5.20404016
=$42152.73(Approx).
Question 6 (0.5 points) In an attempt to have funds for a down payment in five...
In an attempt to have funds for a down payment in five years, you plan to save $7050 each year for the next five years. With an interest rate on your savings of 3% APR, how much will you have in your account after five years?
1-You are taking out a new loan of $195,000 that includes an origination fee of 0.5%. How much money does the origination fee cost you? 2-In an attempt to have funds for a down payment in five years, you plan to save $5200 each year for the next five years. With an interest rate on your savings of 2% APR, how much will you have in your account after five years?
in an attempt to have funds for a down payment In six years , James plans to save $3900 a year for the next 6 years. with an interest rate of 4% what amount will james have available for a down payment after the 6 years?
In an attempt to have funds for a down payment, Jan Carlson plans to save $3,300 a year for the next five years. With an interest rate of 8 percent, what amount will Jan have available for a down payment after the five years? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Down payment 10
In an attempt to have funds for a down payment in three years, James Dupont plans to save $4,250 a year for the next three years. With an interest rate of 5 percent, what amount will James have available for a down payment after the three years? Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.)
In an attempt to have funds for a down payment, Jan Carlson plans to save $3,850 a year for the next five years. With an interest rate of 8 percent, what amount will Jan have available for a down payment after the five years? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Down payment 1% Exhibit 1-B Future value (compounded sum) of $1 paid in at the end of each...
help asap 6. 29 total points. You have decided that you will start a savings plan. You will deposit $20 per week into an account that you think will pay 8% per year. A. 10 points. How much will you have in 15 years? 12 points. Suppose that, with your savings, you will buy a house after 15 years. In addition to your down payment, you will borrow $400,000. If the interest rate is 3.6% on your 30-year mortgage. What...
helpppp the house is $360,916 - Broker offered t o 6. 29 total points. You have decided that you will start a savings plan. You will deposit $20 per week into an account that you think will pay 8% per year. al year 52wak 15 years = 15x52 = 780 A. 10 points. How much will you have in 15 years? B. 12 points. Suppose that, with your savings, you will buy a house after 15 years. In addition to...
5. 14 points. Your na points. Your parents are selling their vacation home and have 2 offers. Their friend has $100,000 today and $120.000 for each of the next three ye and $120.000 for each of the next three years. A broker has offered to pay them 5400.000 today the relevant discount rate is , which offer should they choose? Show calculations ve 2 offers. Their friend has offered to pay them 6. 29 total points. You have decided that...
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...