When Olivia was a college student, she saved $500 each year with an interest rate of 6%. 4 years later, Olivia got a job and saved $2000 each year with an interest rate of 5%. After 5 years,...

Question

Question

When Olivia was a college student, she saved $500 each year with an interest rate of 6%. 4 years later, Olivia got a job and

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Soluten mount olter ear en 0 0-6 -Cal c.daG-the Now..-Ne have to -amount- Amount-21 8구·308 Cos 2: 62o 200D 「+ 0 .os):-ㄏ-).---

Add a comment

Answer 2

Similar Homework Help Questions

3.) A student is borrowing $2000 per year for 3 years. The loan will be repaid 2 years later at a 5% interest rate. a)...

3.) A student is borrowing $2000 per year for 3 years. The loan will be repaid 2 years later at a 5% interest rate. a) Draw the cash flow diagram b) Compute how much will be repaid.
A 22-year old college graduate just got a job in Nashville. She is considering buying a...

A 22-year old college graduate just got a job in Nashville. She is considering buying a house with a $160,000 mortgage. The APR is 6% compounded monthly for her monthly mortgage payments on a 33-year fixed rate loan. If she can get her FICO score up to 750, the APR drops to 5.6%. How much in interest cost will she save over the life of the loan assuming she can increase her FICO score to 750?
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,...

9. Olivia is 30 years old and has just changed to a new job. She has...

9. Olivia is 30 years old and has just changed to a new job. She has $37,500 in the retirement plan from her former employer. She can roll all of that money into the retirement plan of the new employer. She will also contribute $400 at the end of each month ($4,800 per year) into her new employer's plan. If the rolled-over money and the new contributions both earn an annual return of 5.85%, compounded monthly, how much should she...
An engineer expects to earn a $70,000 salary after she graduates. She anticipates that her salary...

An engineer expects to earn a $70,000 salary after she graduates. She anticipates that her salary will increase by an average of 4% each year until she retires 50 years later. If she deposits 10% of her salary into a retirement account at the end of each year, and the account earns 6% annual interest, how much will she have saved on the day she retires?
4) Nandana invests $500 at the start of each year for 20 years in a bank...

4) Nandana invests $500 at the start of each year for 20 years in a bank account paying interest at the effective annual rate i. She takes the interest paid at the end of each year and invests it in a different account paying an effective annual rate i/2. The effective annual rate she earns on her combined investments is 6% a) How much money does she have at the end of 20 years? (Total of both accounts.) b) What...

Question 1: A) Kim just got a job. She is so happy that she decided to...

Question 1: A) Kim just got a job. She is so happy that she decided to reward herself by purchasing a rare 1980 blue YUGO. TA-R-US used cars has given her the option of paying $14,000 now or making 8 annual payments of $2,000 starting in exactly 1 year. The interest rate is 9%. Which plan should Kim choose? B) Emma’s goal in life is to own a ballet studio. Kenzie currently owns a studio, but she has plans to...
14. Loan amortization and capital recovery After Shipra got a job, the first thing she bought...

14. Loan amortization and capital recovery After Shipra got a job, the first thing she bought was a new car. She took out an amortized loan for $20,000—with no ($0) down payment. She agreed to pay off the loan by making annual payments for the next four years at the end of each year. Her bank is charging her an interest rate of 6% per year. Yesterday, she called to ask that you help her compute the annual payments necessary...
5. A college student borrows $1500 during her senior year. The loan is to be paid pack in equal monthly payments startin...

5. A college student borrows $1500 during her senior year. The loan is to be paid pack in equal monthly payments starting three years after the loan is established (interest accumulates during the grace period). The APR is 2.8% compounded monthly. How much should she expect to pay per month if she only wants to have to make payments for 2 years? 6. Mary has a credit card balance of $4,300 at an APR of 12% compounded monthly. Mary has...

Investing $13,000 for each of eight years in an annuity due with a 6% interest rate,...

Investing $13,000 for each of eight years in an annuity due with a 6% interest rate, the value at the end will be: ____________________________________________ Last year Blueridge Corporation's sales were $280 million. If sales grow at 10% per year, how large (in millions) will they be 5 years later? $14000(.10)=1400 How much would $200,000 due in 50 years be worth today if the discount rate were 7.5%? =PV(7.5%,,50,,-20000) =537.78426453 =$537.78 Five years ago, Glow Go Inc. earned $7.50 per share. Its earnings...

When Olivia was a college student, she saved $500 each year with an interest rate of 6%. 4 years later, Olivia got a job and saved $2000 each year with an interest rate of 5%. After 5 years,...

Homework Answers

Add Answer to:
When Olivia was a college student, she saved $500 each year with an interest rate of 6%. 4 years later, Olivia got a job and saved $2000 each year with an interest rate of 5%. After 5 years,...

Post as a guest

Earn Coins

3.) A student is borrowing $2000 per year for 3 years. The loan will be repaid 2 years later at a 5% interest rate. a)...

A 22-year old college graduate just got a job in Nashville. She is considering buying a...

Olivia deposited $800 at her local credit union in a savings account at the rate of...

9. Olivia is 30 years old and has just changed to a new job. She has...

An engineer expects to earn a $70,000 salary after she graduates. She anticipates that her salary...

4) Nandana invests $500 at the start of each year for 20 years in a bank...

Question 1: A) Kim just got a job. She is so happy that she decided to...

14. Loan amortization and capital recovery After Shipra got a job, the first thing she bought...

5. A college student borrows $1500 during her senior year. The loan is to be paid pack in equal monthly payments startin...

Investing $13,000 for each of eight years in an annuity due with a 6% interest rate,...

When Olivia was a college student, she saved $500 each year with an interest rate of 6%. 4 years later, Olivia got a job and saved $2000 each year with an interest rate of 5%. After 5 years,...

Homework Answers

Add Answer to: When Olivia was a college student, she saved $500 each year with an interest rate of 6%. 4 years later, Olivia got a job and saved $2000 each year with an interest rate of 5%. After 5 years,...

Post as a guest

Earn Coins

Add Answer to:
When Olivia was a college student, she saved $500 each year with an interest rate of 6%. 4 years later, Olivia got a job and saved $2000 each year with an interest rate of 5%. After 5 years,...