12. You are 25 years old and inherit $65,000 from your grandmother. If you wish to...
12. You are 25 years old and inherit $65,000 from your grandmother. If you wish to purchase a $100,000 boat to celebrate your 30th birthday, what compound annual rate of return must you earn? Can you show the equation with broken-down
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12. You are 25 years old and inherit $65,000 from your
grandmother. If you wish to...
You are 25 years old and inherit $65,000 from your grandmother. If you wish to purchase...
You are 25 years old and inherit $65,000 from your grandmother. If you wish to purchase a $100,000 boat to celebrate your 30th birthday, what compound annual rate of return must you earn? PLEASE PROVIDE WHAT YOU WOULD PLUG INTO A FINANCIAL CALCULATOR AND SOLVE FOR! I don't need the formulas
Problem 7-12 You are 25 years old and inherit $60,000 from your grandmother. If you wish...
Problem 7-12 You are 25 years old and inherit $60,000 from your grandmother. If you wish to purchase a $107,450 boat to celebrate your 35th birthday, what compound annual rate of return must you earn? Use Appendix A to answer the question. Round your answer to the nearest whole number.
Problem 7-12 You are 25 years old and inherit $60,000 from your grandmother. If you wish to purchase a $107,450 boat to...
Problem 7-12 You are 25 years old and inherit $60,000 from your grandmother. If you wish to purchase a $107,450 boat to celebrate your 35th birthday, what compound annual rate of return must you earn? Use Appendix A to answer the question. Round your answer to the nearest whole number. %
When you were two-years-old, your grandmother left you a trust fund with $10,000 in it that...
When you were two-years-old, your grandmother left you a trust fund with $10,000 in it that has been earning 12% for 20 years. How much is in the trust fund now, based on annual compounding? (use financial calculator and please show work).
Q1. Assume you are 25 years old today. If you wish to have saved $500,000 by...
Q1. Assume you are 25 years old today. If you wish to have saved $500,000 by the time you retire at age 65 (in 40 years), what monthly deposit must you make into your investment account assuming it will earn a fixed-rate return of 6.5%? Place the appropriate values in the proper cells in row 3, given the columns as provided below. Note, where relevant, present value answers should be shown as a negative number. Circle the answer. Provide the...
Today is Rachel’s 30th birthday. Five years ago, Rachel opened a brokerage account when her grandmother...
Today is Rachel’s 30th birthday. Five years ago, Rachel opened a brokerage account when her grandmother gave her $25,000 for her 25th birthday. Rachel added $2,000 to this account on her 26th birthday, $3,000 on her 27th birthday, $4,000 on her 28th birthday, and $5,000 on her 29th birthday. Rachel’s goal is to have $400,000 in the account by her 40th birthday. Starting today, she plans to contribute a fixed amount to the account each year on her birthday. She...
You wish to have $10,000 per year as a retirement supplement for 20 years (from age...
You wish to have $10,000 per year as a retirement supplement for 20 years (from age 65- 85). You are now 40 years old. How much must you save each year for the next 25 years if you assume your savings will earn 12% annually? $560.17 $1,499.99 $5,403.87 None of these are correct
You just turned 23 years old. your aunt will give you $ 1000 for your birthday....
You just turned 23 years old. your aunt will give you $ 1000 for your birthday. you will use the money to open a bank account. How much do you expect to have in the account on your 65th birthday? you just turned 23. your aunt will give you $ 1000 for your birthday. You will use the money to open a bank account. The account has an annual return of 12%. How much do you expect to have in...
Today, you turn 21. Your birthday wish is that you will be a millionaire by your...
Today, you turn 21. Your birthday wish is that you will be a millionaire by your 40th birthday. In an attempt to reach this goal, you decide to save $75 a day, every day, until you turn 40. You open an investment account and deposit your first $75 today. What rate of return must you earn to achieve your goal? Note: Ignore Leap Years. Multiple Choice 7.67 percent 6.27 percent 9.20 percent 7.06 percent 8.54 percent
You wish to retire in 12 years and currently have $50,000 in a savings account yielding...
You wish to retire in 12 years and currently have $50,000 in a savings account yielding 5 percent annually and $100,000 in quality “blue chip” stocks yielding 10 percent. If you expect to add $30,000 at the end of each year to your stock portfolios, how much will you have in your retirement fund when you retire? What rate of return must you earn on your retirement funds if you want to withdraw $102,000 per year for the next 15...
Q1. Assume you are 25 years old today. If you wish to have saved $500,000 by the time you retire at age 65 (in 40 years), what monthly deposit must you make into your investment account assuming it will earn a fixed-rate return of 6.5%? Place the appropriate values in the proper cells in row 3, given the columns as provided below. Note, where relevant, present value answers should be shown as a negative number. Circle the answer. Provide the...
You wish to have $10,000 per year as a retirement supplement for 20 years (from age 65- 85). You are now 40 years old. How much must you save each year for the next 25 years if you assume your savings will earn 12% annually? $560.17 $1,499.99 $5,403.87 None of these are correct
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