questions 5 and 6 plz ??? please use those types of calculations. i was trying but...
Today (t=0) your daughter is born and you decide to start saving for her education. You figure that you will need to pay for 5 years of undergraduate engineering at $20,000 per year (from t=18 through t=22), and two years for graduate school at $30,000 per year (t=23 and t=24). you decide to start your equal-sum deposits on her 5th birthday. You plan to make equal-sum deposits all the way through to her 24th birthday (so including t=5, including t=10,...
QUESTION 6 Suppose that a young couple has just had their first baby and they wish to insure that enough money will be available to pay for their child's college education. They decide to make deposits into an educational savings account on each of their daughter's birthdays, starting with her first birthday. Assume that the educational savings account will return a constant 9%. The parents deposit $2400 on their daughter's first birthday and plan to increase the size of their...
Suppose that a young couple has just had their first baby and they wish to insure that enough money will be available to pay for their child's college education. They decide to make deposits into an educational savings account on each of the d a y, ang with her first birthday. Assume that the educational savings account will run a constant 9%. The parents deposit $2.000 on their daughter's first bethday and plan to increase the size of their deposits...
Please choose one answer A,B,C or D thank you. Suppose that a young couple has just had their first baby and they wish to insure that enough money will be available to pay for their child's college education. They decide to make deposits into an educational savings account on each of their daughter's birthdays, starting with her first birthday. Assume that the educational savings account will return a constant 9%. The parents deposit S2 300 on their daughter's first birthday...
Overview Mary has been working for a university for almost 25 years and is now approaching retirement. She wants to address several financial issues before her retirement and has asked you to help her resolve the situations below. Issue D: Mary wants to help pay for her granddaughter Beth’s education. She has decided to pay for half of the tuition costs at State University, which are now $11,000 per year. Tuition is expected to increase at a rate of 7%...
Do not use excell or any software. Use formulas/equations, and show calculations. Thank you. Question 122 points total). Your sister is starting to plan for your niece's college expenses and has asked for your advice. Elle has turned 6 years old today and she will start college when she is 18 years of age. Your sister plans to start saving today, by making a deposit of $5,000 into an account that earns 6% interest per year. Then, she will continue...
please help me solve this problem with excel formulas please and thank you!! A financial planning service offers a unique program for parents to save for a child's college education. Starting on the child's 12th birthday, annual deposits are made. The first deposit is $5,000 and the required deposit increases by $1000 each year, until the child's 18th birthday, when the final deposit is made. Beginning on the child's 19th birthday, four annual withdrawals of $10,000 can be made. Assuming...
Use Scenario 2 to answer Questions 2A, 2B, and 2C below. Scenario 2: Mrs. Martin wants to set aside money for her daughter’s future college education. She will deposit money into an education-specific savings account (529 Plan) that she expects to pay 8% per year, compounded annually. Mrs. Martin plans to deposit $1,000 one year from now, $1,500 two years from now, $2,000 three years from now, and this pattern will continue for a total of 18 years (and 18...
Please, be neat and detailed. Explanations would be great. I need to understand it. Thank you. Question 122 points total). Your sister is starting to plan for your niece's college expenses and has asked for your advice. Elle has turned 6 years old today and she will start college when she is 18 years of age. Your sister plans to start saving today, by making a deposit of $5,000 into an account that earns 6% interest per year. Then, she...
I am trying to do the following: plan a retirement schedule between the ages of 22 and 68, in which I would deposit 25% of my income each year. The income starts at 80,000 with an annual growth rate of 5% and, to be realistic, assuming an interest rate of 2.5%. I will assume for simplicity that I receive my first salary ($80,000) when I turn 22, and my last salary when I turn 68. As soon as I receive...