2. I want to buy a house in 5 years. I need to have a down...
2. I want to buy a house in 5 years. I need to have a down payment of $50,000. How much do I need to have today in order to have the down payment, if I can earn 4%?
Homework Answers
Present value of the future amount = 50,000/1.045
present value of the future amount = 41,096.36
You just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You est...
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.) 1. Assume you can earn 6% interest (APR) on your savings, and you want to make a single deposit...
I just need to check my answers: 17: You want to buy a house in 5...
I just need to check my answers: 17: You want to buy a house in 5 years and expect to need $35000 for a down payment. If you have $11000 to invest, how much interest do you have to earn (compounded annually) to reach your goal? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%) 18: You decide that the loan in question 2 is too large for...
ou need to have $25,000 for a down payment on a house 5 in years. If...
ou need to have $25,000 for a down payment on a house 5 in years. If you can earn an annual interest rate of 3.2 percent, how much will you have to deposit today? Multiple Choice $18,828.80 $20,548.18 $20,847.13 $21,357.06 $20,694.83
You need to have $35,000 for a down payment on a house 7 in years. If...
You need to have $35,000 for a down payment on a house 7 in years. If you can earn an annual interest rate of 3.4 percent, how much will you have to deposit today?
You need to have $30,000 for a down payment on a house 6 in years. If...
You need to have $30,000 for a down payment on a house 6 in years. If you can earn an annual interest rate of 3.3 percent, how much will you have to deposit today?
Question 1 (0.2 points) You want to buy a house in 10 years and expect to...
Question 1 (0.2 points) You want to buy a house in 10 years and expect to need $40000 for a down payment. If you have $11000 to invest, how much interest do you have to earn (compounded annually) to reach your goal? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%) Your Answer: Answer
Q4 A. (20 Marks) Suppose you want to buy a new house. You currently have $15,000...
Q4 A. (20 Marks) Suppose you want to buy a new house. You currently have $15,000 and you figure you need to have a 10% down payment. If the type of house you want costs about $200,000 and you can earn 7.5% per year, how long will it be before you have enough money for the down payment? .
Q4 A. (20 Marks) Suppose you want to buy a new house. You currently have $15,000...
Q4 A. (20 Marks) Suppose you want to buy a new house. You currently have $15,000 and you figure you need to have a 10% down payment. If the type of house you want costs about $200,000 and you can earn 7.5% per year, how long will it be before you have enough money for the down payment? .
You just graduated from college and decide to start saving for a down payment to buy...
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...
1. You are planning to buy a new house. You currently have $35,000 and your bank told you that you would need a 15%...
1. You are planning to buy a new house. You currently have $35,000 and your bank told you that you would need a 15% down payment plus an additional 4% in closing costs. If the house that you want to buy costs $250,000 and you can make a 7% annual return on your Investment, determine the following: a) b) When will you have enough money for the down payment and closing costs, assuming that the $35,000 is the only investment...
Question 1 (0.2 points) You want to buy a house in 10 years and expect to need $40000 for a down payment. If you have $11000 to invest, how much interest do you have to earn (compounded annually) to reach your goal? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%) Your Answer: Answer
Q4 A. (20 Marks) Suppose you want to buy a new house. You currently have $15,000 and you figure you need to have a 10% down payment. If the type of house you want costs about $200,000 and you can earn 7.5% per year, how long will it be before you have enough money for the down payment? .
Q4 A. (20 Marks) Suppose you want to buy a new house. You currently have $15,000 and you figure you need to have a 10% down payment. If the type of house you want costs about $200,000 and you can earn 7.5% per year, how long will it be before you have enough money for the down payment? .
1. You are planning to buy a new house. You currently have $35,000 and your bank told you that you would need a 15% down payment plus an additional 4% in closing costs. If the house that you want to buy costs $250,000 and you can make a 7% annual return on your Investment, determine the following: a) b) When will you have enough money for the down payment and closing costs, assuming that the $35,000 is the only investment...
Most questions answered within 3 hours.
-
A biologist wishes to estimate the effect of an antibiotic on
the growth of a particular...
asked 41 seconds from now -
O’Deesha Company has the following information available:
Quality engineering of
products
$20,000
Quality training of
employees &n
asked 7 minutes ago -
a) Draw two water molecules.
b) Clearly name and label the type of bond that exists...
asked 1 hour ago -
C - Language
Write a loop that sets each array element to the sum of itself...
asked 2 hours ago -
(63
#14)
which of the following statments best describes how chamging
the concentration of the substances...
asked 5 hours ago -
In the following reaction, which element is undergoing
oxidation: Na2SO3 + N2O --> N2 + Na2SO4...
asked 6 hours ago -
Which of the following pairs of ions have the same electron
configuration?
I: Br− and Se2−...
asked 9 hours ago -
The Foremost Composite Materials Company is planning a two-day
sales conference for October 19-20. The conference...
asked 9 hours ago -
3) Illustrate the observed pattern of relatedness of organisms
versus adaptations to specific conditions. This means...
asked 10 hours ago -
In winter a lake has a 0.35 m thick ice layer over 1.10 m of
water....
asked 10 hours ago -
Assuming the following has been encrypted with a Vigenere cipher
below, use the method(s) and assumptions...
asked 11 hours ago -
How would I use switch statements to write a program that will
take an input of...
asked 11 hours ago