1. You start working this month and plan to save $67 at the end of each...
1. You start working this month and plan to save $67 at the end of each month into the bank account that pays 6.91% compounded monthly. How much do you expect to have at the end of 7 years?
Please round your answer to the second decimal without dollar sign. (e.g. 0.00)
2. If you plan to buy a LV bag for your mother's 60th birthday, which will cost you $4,690, in 3 years. How much do you need to deposit today? Assume the bank will pay you annual interest rate of 7.93% compounded quarterly.
Please round your answer to the second decimal without dollar sign. (e.g. 0.00)
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For retirement, you decide to deposit $8805 at the end of each year and you will...
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James has heard that it is important to start saving for retirement at an early age. He deposits $1000 on each of his birthdays from age 16 through to age 25 inclusive into an account that pays 10% interest compounded annually. How much will be in his account immediately following his 25th birthday? If James leaves this amount in the account for 35 more years, without making any further deposits, how much will be in the account when he turns...
For retirement, you decide to deposit $8805 at the end of each year and you will increase your deposit by $214 per year. How much will you have at the end of 20 years if the bank pays 2.5% compounded annually? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas(") or a decimal point")
You plan to go on vacation in 2 years. The vacation will cost you $7388 at that time. How much must you invest today to fund the vacation if your investment account earns 3% APR compounded annually? Calculate your answer to the nearest dollar and input it as just the number with no dollar sign, commas or decimal points (e.g., 3745)
please answer
Question 1 20 pts You plan to buy your "dream car" when you graduate in 12 months. The cost of the car at that time will be $59,000. How much do you have to invest each month, starting next month, for 29 months to exactly pay for the car if your investments earn 5.00% APR (compounded monthly)? Calculate your answer to the nearest dollar. Write only the number with no dollar sign or comma (e.g., 3711)
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