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Sara wants to have $530,000 in her savings account when she retires. How much must she...
Sara wants to have $ 530,000 in her savings account when she retires. How much must...
Sara wants to have $ 530,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 9%, to ensure that she has $530,000 in 18 years time?
Sara wants to have $ 580,000 in her savings account when she retires. How much must...
Sara wants to have $ 580,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $ 580,000 in 18 years time? A. $187,772 B. $146,045 C. $110,817 D. $104,318
Sara wants to have $600,000 in her savings account when she retires, How much must she...
Sara wants to have $600,000 in her savings account when she retires, How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $600,000 in 818 years time? a. $194,247 b. $107,915 c. $114,639 d. $151,081
Sara wants to have $600,000 in her savings account when she retires. How much must she put in the account now, if the a...
Sara wants to have $600,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $600,000 in 18 years time? A. $107,915 B. $151,081 C. $114,639 D. $194,247
You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account...
You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local bank that pays 7% annual interest. The client wants to deposit an amount that will provide her with $1,005,500 when she retires. Currently, she has $302,200 in the account. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) How much additional money should...
Brooke wants to open her first savings account, in order to save money for college tuition....
Brooke wants to open her first savings account, in order to save money for college tuition. She goes to the bank and opens an account that pays 8% interest compounded annually. She deposits $3,000 initially into the account. How much money will she have in 5 years, when she will be entering college?
Professor G wants to have $700,000 in his retirement account when he retires in 10 years....
Professor G wants to have $700,000 in his retirement account when he retires in 10 years. He earns 3.6% on his investments guaranteed. How much must he invest at the beginning of each month if he now already has $240,000 already saved up?
Olivia deposited $800 at her local credit union in a savings account at the rate of...
Olivia deposited $800 at her local credit union in a savings account at the rate of 6.2% paid as simple interest. She will earn Interest once a year for the next 7 years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Olivia in 7 years? O $1,218.88 $852.68 $1,147.20 $149.60 Now, assume that Olivia's credit union pays a compound interest rate of 6.2% compounded annually. All other things being equal,...
4) interest questions: (10 pts total) How much will be in your bank account at the...
4) interest questions: (10 pts total) How much will be in your bank account at the end of five years if you invest $5,000 now at 12% per annum, compounded annually? (1 pts) And what if the interest rate is 12% per annum, but compounded monthly? (1 pts) If you invest your $5,000 and want to have $10,000 in five years' time, what is the minimum yearly interest rate that will ensure that you have at least this much when...
Exercise 9-3 Margaret wants to buy a car when she graduates from Central University 5 years...
Exercise 9-3 Margaret wants to buy a car when she graduates from Central University 5 years from now. She believes that she will need $29,300 to buy the car. (a) Calculate how much money Margaret must put into her savings account today to have $29,300 in 5 years, assuming she can earn 10% compounded annually. Amount $_________________ (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g....
Sara wants to have $600,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $600,000 in 18 years time? A. $107,915 B. $151,081 C. $114,639 D. $194,247
You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local bank that pays 7% annual interest. The client wants to deposit an amount that will provide her with $1,005,500 when she retires. Currently, she has $302,200 in the account. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) How much additional money should...
Olivia deposited $800 at her local credit union in a savings account at the rate of 6.2% paid as simple interest. She will earn Interest once a year for the next 7 years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Olivia in 7 years? O $1,218.88 $852.68 $1,147.20 $149.60 Now, assume that Olivia's credit union pays a compound interest rate of 6.2% compounded annually. All other things being equal,...
4) interest questions: (10 pts total) How much will be in your bank account at the end of five years if you invest $5,000 now at 12% per annum, compounded annually? (1 pts) And what if the interest rate is 12% per annum, but compounded monthly? (1 pts) If you invest your $5,000 and want to have $10,000 in five years' time, what is the minimum yearly interest rate that will ensure that you have at least this much when...
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