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A newborn child receives a $6,000 gift toward a college education from her grandparents. How much...
A newborn child receives a $9,000 gift toward a college education from her grandparents. How much will the $9,000 be wor...
A newborn child receives a $9,000 gift toward a college education from her grandparents. How much will the $9,000 be worth in 18 years if it is invested at 5.4% ompounded quarterly?
Yumi's grandparents presented her with a gift of $22,000 when she was 9 years old to...
Yumi's grandparents presented her with a gift of $22,000 when she was 9 years old to be used for her college education. Over the next 8 years, until she turned 17, Yumi's parents had invested her money in a tax-free account that had yielded interest at the rate of 3.5%/year compounded monthly. Upon turning 17, Yumi now plans to withdraw her funds in equal annual installments over the next 4 years, starting at age 18. If the college fund is...
Your grandparents have given you an early college gift of $5,000 that you would like to...
Your grandparents have given you an early college gift of $5,000 that you would like to save to fund a post-graduation trip to Europe in 3 years. How much will you have for your trip in 3 years if you can invest this gift at 5% compounded annually? (express your answer as the nearest whole dollar amount?
-11 points TanFin 12 5.3.036. My Notes Ask Your Teacher Yumi's grandparents presented her with a...
-11 points TanFin 12 5.3.036. My Notes Ask Your Teacher Yumi's grandparents presented her with a gift of $20,000 when she was 9 years old to be used for her college education. Over the next years, until she turned 17, Yumi's parents had invested her money in a tax-free account that had yielded interest at the rate of 4.5/year compounded monthly. Upon turning 17. Yumi now plans to withdraw her funds in equal annual installments over the next 4 years,...
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn)....
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn). If deposits of $10,000 are made each year into an account paying 8% compounded annually, how much will be in the account after 23 years? What will be the total amount of interest earned? The amount in the account after 2 years is $ (round to the nearest cent, as needed). The amount of interest earned is s (round to the nearest cent, as...
You begin to save for your newborn child's college education by depositing $200 per month in...
You begin to save for your newborn child's college education by depositing $200 per month in an account paying 4% interest per year. You increase the amount you deposit each month by 5% each year. With continuous investment and compounding ... incipal will have been investe (nearest $100) B. What would be the average monthly payment over those 18 years? (nearest $1) C. How much will have accumulated in the account by the time your child enters college 18 years...
You want to save for your newborn child’s college education. You can invest in a tax...
You want to save for your newborn child’s college education. You can invest in a tax free bond which pay 7% annual interest rate, compounded continuously. How much should you invest (principle) today so that you will have $100,000 in 18 years?
3. a) b) Victoria invested her savings in a bank at 2.75% compounded monthly. How much...
3.
a)
b)
Victoria invested her savings in a bank at 2.75% compounded monthly. How much money did she invest to enable withdrawals of $3,000 at the beginning of every 6 months from the investment for 8 years, if the first withdrawal is to be made in 12 years? Round to the nearest cent How much would a business have to invest in a fund to receive $13,000 at the end of every month for 5 years? The fund has...
need corrections please ty answers only please A sinking fund is established by a working couple...
need corrections please ty
answers only please
A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end of each 3-month period for 16 years, and interest is paid at 14%, compounded quarterly, what sie deposits must they make? (a) State whether the problem relates to an ordinary annuity or an annuity dur. ordinary annuity annuity due...
How much must be invested at the beginning of each year at 8%, compounded annually, to...
How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity dhe (b) Solve the problem. (Round your answer to the nearest cent.) $ 2550 X Grandparents plan to open an account on the grandchild's birthday and contribute each month until she goes to college. How much must...
-11 points TanFin 12 5.3.036. My Notes Ask Your Teacher Yumi's grandparents presented her with a gift of $20,000 when she was 9 years old to be used for her college education. Over the next years, until she turned 17, Yumi's parents had invested her money in a tax-free account that had yielded interest at the rate of 4.5/year compounded monthly. Upon turning 17. Yumi now plans to withdraw her funds in equal annual installments over the next 4 years,...
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn). If deposits of $10,000 are made each year into an account paying 8% compounded annually, how much will be in the account after 23 years? What will be the total amount of interest earned? The amount in the account after 2 years is $ (round to the nearest cent, as needed). The amount of interest earned is s (round to the nearest cent, as...
You begin to save for your newborn child's college education by depositing $200 per month in an account paying 4% interest per year. You increase the amount you deposit each month by 5% each year. With continuous investment and compounding ... incipal will have been investe (nearest $100) B. What would be the average monthly payment over those 18 years? (nearest $1) C. How much will have accumulated in the account by the time your child enters college 18 years...
3.
a)
b)
Victoria invested her savings in a bank at 2.75% compounded monthly. How much money did she invest to enable withdrawals of $3,000 at the beginning of every 6 months from the investment for 8 years, if the first withdrawal is to be made in 12 years? Round to the nearest cent How much would a business have to invest in a fund to receive $13,000 at the end of every month for 5 years? The fund has...
need corrections please ty
answers only please
A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end of each 3-month period for 16 years, and interest is paid at 14%, compounded quarterly, what sie deposits must they make? (a) State whether the problem relates to an ordinary annuity or an annuity dur. ordinary annuity annuity due...
How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity dhe (b) Solve the problem. (Round your answer to the nearest cent.) $ 2550 X Grandparents plan to open an account on the grandchild's birthday and contribute each month until she goes to college. How much must...
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