You hope to buy your dream car 5 years from now. Today, that car costs $68,000...
You hope to buy your dream car 5 years from now. Today, that car costs $68,000 but you expect the price to increase by an average of 4% per year over the next five years. How much will your dream car cost by the time you are ready to buy it?
Homework Answers
Future value of car = Value today x (1+Rate)^Years
Future value of car = $68000 x (1+4%)^5
Future value of car = $82,732.40
The future value of car will be $82,732.40 when you are ready to buy after 5 years.
Add Answer to:
You hope to buy your dream car 5 years from now. Today, that car
costs $68,000...
Today, your dream car costs $58,900. You feel that the price of the car will increase...
Today, your dream car costs $58,900. You feel that the price of the car will increase at an annual rate 1.9 percent. If you plan to wait 3 years to buy the car, how much will it cost at that time?
please screenshot how this is supposed to be formatted on excel AC220 Unit4 Problems (2) -...
please screenshot how this is supposed to be formatted
on excel
AC220 Unit4 Problems (2) - Protected View Search out Formulas Data Review View Help m the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing (Hint: Use constant dividend formula to find value of a stock) A 10 11 02. You hope to buy your dream car three years from now. Today, that car costs $63,400. 12 You expect the...
Question7 1 pts You want to buy a new surfboard 4 years from now. You have...
Question7 1 pts You want to buy a new surfboard 4 years from now. You have $500 in the bank today. You can earrn 11% on your savings. If the surfboard will cost $5,000, how much will you have to save every year to have enough to buy it? Round your answer to 2 decimals, for example 100.12. Question 8 1 pts Today you purchased XYZ stock for $92 per share. You will keep the stock for 10 years and...
Your parents promise to buy your dream car upon graduation from college with your Masters Degree....
Your parents promise to buy your dream car upon graduation from college with your Masters Degree. Your dream car is expected to cost $60,000 in six years. If your parents earn an average return of 8% for 6 years, what amount must they invest each year in order to accumulate $60,000. If upon graduation (age 21) you decide to invest in a 401K. You begin at age 21 and invest $3,000 per year for 10 years and then stop. If...
In 3 years from now you want to buy a new car. You expect the price...
In 3 years from now you want to buy a new car. You expect the price of the car of your dreams to be $55,000 (price in 3 years). How big are your equal monthly contributions to your savings account if you want to have enough money saved to buy that car in 3 years? Assume you start saving in two months from today and make your last contribution in 3 years (i.e., monthly payments at t = 2, 3,...
You plan to buy your "dream car" when you graduate in 12 months. The cost of...
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.
As part of your financial planning, you wish to purchase a new car 8 years from...
As
part of your financial planning, you wish to purchase a new car 8
years from today. The car you wish to purchase costs $14,000 today,
and your research indicates that its price will increase by 3% to
6% per year over the next 8 years.
a. Estimate the price of the car at the end of 8 years if
inflation is (1.) 3% per year and (2.) 6% per year.
b. How much more expensive will the car be...
(1) You want to buy a new sports car from Muscle Motors for $68,000. The contract...
(1) You want to buy a new sports car from Muscle Motors for $68,000. The contract is in the form of a 72-month annuity due at an APR of 6.75 percent. What will your monthly payment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Monthly payments: _____ (2) You're trying to save to buy a new $202,000 Ferrari. You have $52,000 today that can be invested at your bank. The bank pays...
You want to buy a new surfboard 6 years from now. You have $700 in the...
You want to buy a new surfboard 6 years from now. You have $700 in the bank today. You can earn 5% on your savings. If the surfboard will cost $5,000, how much will you have to save every year to have enough to buy it? Round your answer to 2 decimals, for example 100.12 You are thinking of buying a new car for $50,000. You will borrow the money to buy the car, and payback the loan in annual...
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...
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)
please screenshot how this is supposed to be formatted
on excel
AC220 Unit4 Problems (2) - Protected View Search out Formulas Data Review View Help m the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing (Hint: Use constant dividend formula to find value of a stock) A 10 11 02. You hope to buy your dream car three years from now. Today, that car costs $63,400. 12 You expect the...
Question7 1 pts You want to buy a new surfboard 4 years from now. You have $500 in the bank today. You can earrn 11% on your savings. If the surfboard will cost $5,000, how much will you have to save every year to have enough to buy it? Round your answer to 2 decimals, for example 100.12. Question 8 1 pts Today you purchased XYZ stock for $92 per share. You will keep the stock for 10 years and...
Your parents promise to buy your dream car upon graduation from college with your Masters Degree. Your dream car is expected to cost $60,000 in six years. If your parents earn an average return of 8% for 6 years, what amount must they invest each year in order to accumulate $60,000. If upon graduation (age 21) you decide to invest in a 401K. You begin at age 21 and invest $3,000 per year for 10 years and then stop. If...
As
part of your financial planning, you wish to purchase a new car 8
years from today. The car you wish to purchase costs $14,000 today,
and your research indicates that its price will increase by 3% to
6% per year over the next 8 years.
a. Estimate the price of the car at the end of 8 years if
inflation is (1.) 3% per year and (2.) 6% per year.
b. How much more expensive will the car be...
You want to buy a new surfboard 6 years from now. You have $700 in the bank today. You can earn 5% on your savings. If the surfboard will cost $5,000, how much will you have to save every year to have enough to buy it? Round your answer to 2 decimals, for example 100.12 You are thinking of buying a new car for $50,000. You will borrow the money to buy the car, and payback the loan in annual...
Most questions answered within 3 hours.
-
The following base sequence is found for a mRNA fragment from
wild-type E. coli: 5'- UAUCAGUAGAUAAUGUAACC-3'...
asked 14 minutes ago -
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 32 minutes ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 36 minutes ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 1 hour ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 1 hour ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 4 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 5 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 5 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 5 hours ago -
When a metal rod is heated, not only its resistance but also its
length and crossâsectional...
asked 5 hours ago -
write a c++ program that computes the L^1 - Norm of a given
vector (L^1 norm...
asked 5 hours ago -
A manufacturer of banana chips would like to know whether its
bag filling machine works correctly...
asked 5 hours ago