Sharon convinces Dante that because school is both very expensive..
Sharon convinces Dante that because school is both very expensive and very important, they must try to save a little more each month. The review their budget once more and decide that increasing their payments to $125 each month is manageable.
How much will they have saved by their child’s 18th birthday now that they have increased their payments? [1]
How much interest will be earned?
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Today Dante and Sharon had their first child..
Today Dante and Sharon had their first child and they want to begin saving for their child’s education. With all the expenses of having a new child they feel they can only afford to put away $75 a month but they plan to continue doing so until the child turns 18. They are budgeting for an interest rate of 3.2%, compounded monthly. How much money will they have in the account by their child’s 18th birthday? [1] How much interest will be...
Assume that your parents wanted to have $160,000 saved for college by your 18th birthday and...
Assume that your parents wanted to have $160,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 8% per year on their investments. a) How much would they have to save each year to reach their goal? b) If they think you will take five years instead of four to graduate and decide to have $200,000 saved just in case, how much...
Assume that your parents wanted to have $ 120000 saved for college by your 18th birthday...
Assume that your parents wanted to have $ 120000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 8.5 % per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $ 160000 saved just in...
Assume that your parents wanted to have $150,000 saved for college by your 18th birthday and...
Assume that your parents wanted to have $150,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 12.0% per year on their investments b. If they think you will take five years instead of four to graduate and decide to have $190,000 saved just in case, how much would they have to save each year to reach their new goal?
Assume that your parents wanted to have $100,000 saved for college by your 18th birthday and...
Assume that your parents wanted to have $100,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 10.5% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $140,000 saved just in case, how much...
Please show all steps and label inputs, thanks! Assume that your parents wanted to have $150,000...
Please show all steps and label inputs,
thanks!
Assume that your parents wanted to have $150,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 5.0% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to...
Assume that your parents wanted to have $100,000 saved for college by your 18th birthday and...
Assume that your parents wanted to have $100,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 6.5% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $140,000 saved just in case, how much...
Assume that your parents wanted to have $80.000 saved for college by your 18th birthday and...
Assume that your parents wanted to have $80.000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your brt day and earned 120% per year other a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $120,000 saved just in case, how much would...
Assume that your parents wanted to have $180,000 saved for college by your eighteenth birthday and...
Assume that your parents wanted to have $180,000 saved for college by your eighteenth birthday and they started saving on your first birthday (deposited the first amount on your first birthday). They saved the same amount each year on your birthday and earned 8% per year on their investments. How much would they have to save each year to reach their goal? How would your answer change if they decided to save a certain amount each month? (APR is still...
Assume that your parents wanted to have $35,000 saved for college by your 17th birthday and...
Assume that your parents wanted to have $35,000 saved for college by your 17th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 8% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $10,000 saved just in case, how much...
Assume that your parents wanted to have $150,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 12.0% per year on their investments b. If they think you will take five years instead of four to graduate and decide to have $190,000 saved just in case, how much would they have to save each year to reach their new goal?
Please show all steps and label inputs,
thanks!
Assume that your parents wanted to have $150,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 5.0% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to...
Assume that your parents wanted to have $100,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 6.5% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $140,000 saved just in case, how much...
Assume that your parents wanted to have $80.000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your brt day and earned 120% per year other a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $120,000 saved just in case, how much would...
Most questions answered within 3 hours.
-
A new kind of typhoid shot is being developed by a medical
research team. The old...
asked 16 minutes ago -
Write a chemical equation for these reactions. (Use
the lowest possible whole number coefficients.) Include
states-of-matter...
asked 2 hours ago -
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 2 hours ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 5 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 5 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 5 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 5 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 5 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 5 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 5 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 6 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 6 hours ago