2. If you desire to have $10,000 for a down payment for a house in five...
Homework Answers
PV = FV / (1 + r)n
= $10,000 / (1 + 0.05)5
= $10,000 / 1.2763 = $7,835.26
Amount of Deposit needed today is $7,835.26
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2.
If you desire to have $10,000 for a down payment for a house in
five...
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If you desire to have $10,000 for a down payment for a house in seven years, what amount would you need to deposit today? Assume that your money will earn 6 percent. Use Exhibit 1-C. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
If you desire to have $23,000 for a down payment for a house in six years,...
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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?
If you want to have $10,000 for a down payment on a new car in three'...
If you want to have $10,000 for a down payment on a new car in three' years time, assuming an interest rate of 4.5 percent compounded annually, how much money do you need to deposit as a lump sum today? A. $8712 B. $8112 C. $8650 D. $8763
(3) You desire to purchase a house in the future. You anticipate that you will need...
(3) You desire to purchase a house in the future. You anticipate that you will need a $10,000 down payment. You estimate that you can save $150 per month from you salary, which will be deposited at the end of each month in a savings account paying 6% interest a year. (a) Will you have accumulated enough money at the end of four years for a down payment? (b) What if you deposited your money in a mutual fund account...
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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 just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You est...
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(3 pts) Sue has $30,000 to use as a down payment on a house and can...
(3 pts) Sue has $30,000 to use as a down payment on a house and can afford to pay $1000 per month for a mortgage. If the interest rate on a 15-year mortgage is 4.2% (this is an APR) compounded monthly. What is the highest price house she can afford using a 15-year mortgage? 2) s. (2 pts) Larry would like to retire in 20 years. He currently has $300,000 in his retirement account and is planning on depositing an...
please answer these within aboit 30-50 min thank you! QUESTION 3 Incorrect Mark 0.00 out of 1.00 P Flag ques...
please answer these within aboit 30-50 min
thank you!
QUESTION 3 Incorrect Mark 0.00 out of 1.00 P Flag question Future Value Computation You deposit $3,000 at the end of every year for three years. How much will accumulate in three years if you earn 8% compounded annually? Use Excel or a financial calculator for computation. Round your answer to the nearest dollar. $ 10,518 Check QUESTION 4 Not complete Marked out of 1.00 P Flag question Present Value Computation...
(3) You desire to purchase a house in the future. You anticipate that you will need a $10,000 down payment. You estimate that you can save $150 per month from you salary, which will be deposited at the end of each month in a savings account paying 6% interest a year. (a) Will you have accumulated enough money at the end of four years for a down payment? (b) What if you deposited your money in a mutual fund account...
(3 pts) Sue has $30,000 to use as a down payment on a house and can afford to pay $1000 per month for a mortgage. If the interest rate on a 15-year mortgage is 4.2% (this is an APR) compounded monthly. What is the highest price house she can afford using a 15-year mortgage? 2) s. (2 pts) Larry would like to retire in 20 years. He currently has $300,000 in his retirement account and is planning on depositing an...
please answer these within aboit 30-50 min
thank you!
QUESTION 3 Incorrect Mark 0.00 out of 1.00 P Flag question Future Value Computation You deposit $3,000 at the end of every year for three years. How much will accumulate in three years if you earn 8% compounded annually? Use Excel or a financial calculator for computation. Round your answer to the nearest dollar. $ 10,518 Check QUESTION 4 Not complete Marked out of 1.00 P Flag question Present Value Computation...
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