Finance Homework

Intro You decided to save $1,400 every year, starting one year from now, in a savings account that pays an annual interest rate of 5%. Part 1 74440 How many years will it take until you have $100,000 in the account? 1+ decimals Submit

Suppose you want to have $700,000 for retirement in 20 years. Your account earns 7% interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn? S Question Help: Video Submit Question Q Search hp H

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Suppose you want to have $400,000 for retirement in 20 years. Your account earns 8% interest. How much would you need to deposit in the account each month? Submit Question Search my.Ay 14

Karla Lopez deposit $3000 a year into her retirement account if these phones have an average running at 8% over the 40 years until her retirement what will be the value of her retirement account?

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Module 4 Activity Sheet: Savings Calculator Name: Directions: Use the savings calculator from Nerd Wallet to fill in the chart. Scenario: You earn $100 per month and want to save 10% in a savings account. 1. How much will your monthly contribution be? Enter your response in the chart. 2. Use the savings calculator to find out how much your total savings would be in 1 year if your account has an annual interest rate of 1%. What would your total savings be in 5 years? 3. You decide to increase your savings to 20%. Fill in the 2nd column. Save 10% Save 20% Monthly contribution 1 year total 5 year total 4. Based on what you know about saving and investing, would the totals be the same if you had invested the money, instead of saving it? Why or why not?

Many assets provide a series of cash inflows over time; and many obligations require a series of payments. When the payments are equal and are made at fixed intervals, the series is an annuity. There are three types of annuities: (1) Ordinary (deferred) annuity, (2) Annuity due, and (3) Growing annuity. One can find a annuity's future and present values, the interest rate built into annuity contracts, and the length of time it takes to reach a financial goal using an annuity. Growing annuities are often used in the area of financial planning. Their analysis is more complex and often easier solved using a financial spreadsheet, so we will limit our discussion here to the first two types of annuities. The future value of an ordinary annuity, FVAN, is the total amount one would have at the end of the annuity period if each payment (PMT) were invested at a given interest rate and held to the end of the annuity period. The equation is: Each payment of an annuity due is compounded for one…

● Question 1 John is 25 years old and wants to have 1 million dollars in savings by the time he retires at 65. He plans to open a savings account that pays 4% Interest compounded quarterly and he will be making quarterly deposits of $250 Into the account. John will need to make an initial deposit of s Time Value of Money Solver Enter the given values. N:= 0 Number of Payment Periods 0 1:% Annual Interest Rate as a Percent PV: Present Value PMT: Payment 0 0 FV: Future Value P/Y: 12 Payments per Year 0 OM Solve Solve Solve Solve Solve to reach his goal of 1 million hp

Suppose you want to have $400,000 for retirement in 10 years. Your account earns 9% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? S b) How much interest will you earn? S

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Suppose you want to have $300,000 for retirement in 25 years. Your account earns 9% interest.a) How much would you need to deposit in the account each month? b) How much interest will you earn?

Use chart to find total savings

Question 4 Suppose you want to have $400,000 for retirement in 20 years. Your account earns 6% interest. How much would you need to deposit in the account each month? Enter an integer or decimal number

Part 1: Data Tables You have decided to start saving for retirement. You plan to work for 35 years and then retire. Requirements: Complete each requirement on a separate worksheet. 1. Calculate the amount of money that will be in your Roth IRA account when you retire if you: a. Save $3,500 at the end of each year. b. Earn 7% interest each year. c. The answer to requirement I must be calculated using a single formula. 2. Create a one-input Data Table that calculates the value of your Roth IRA when you retire if the annual savings amount is different than $3,500 per year. a. Use the following annual end of the year annual savings amounts as the column data in the Data Table: $500, $1,000, $2,000, $3,000, $3,500, $4,000, and $5,000. b. The annual interest rate is still 7% each year. 3. Create a two-input Data Table that calculates the value of your Roth IRA when you retire for different annual interest rates and different annual savings amounts. a. Use the following annual interest rates…

How much do you have to deposit today so that beginning 11 years from now you can withdraw ​$   15,000 a year for the next   4 years​ (periods 11 through   14​) plus an additional amount of ​$   30,000 in the last year​ (period   14​)?  Assume an interest rate of   5 percent.           Question content area bottom Part 1 The amount of money you have to deposit today is ​$   enter your response here .  ​(Round to the nearest​ cent.)

Time to accumulate a given sum Personal Finance Problem Manuel Rios wishes to determine how long it will take an initial deposit of $7,000 to double. a. If Manuel earns 8% annual interest on the deposit, how long will it take for him to double his money? b. How long will it take if he earns only 5% annual interest? c. How long will it take if he can earn 10% annual interest? d. Reviewing your findings in parts a, b, and c, indicate what relationship exists between the interest rate and the amount of time it will take Manuel to double his money. a. If Manuel earns 8% annual interest, the amount of time to double his money is years. (Round to two decimal places.) C

Financial Accounting Question

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How much would you need to deposit in an account each month in order to have $30,000 in the account in 8 years? Assume the account earns 7% interest. S Submit Question Search hp

You want to be able to withdraw $30,000 from your account each year for 30 years after you retire. You expect to retire in 20 years. If your account earns 8% interest, how much will you need to deposit each year until retirement to achieve your retirement goals? Question Help: DVideo 1 D Video 2 Submit Question

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Help on problem 24 please

How much interest did the account eran in the 25 years monthly payments were made?