Please correct answer and don't used hand raiting 2. Daniel intends to travel overseas three years from now. He opens a savings account which offersinterest at a rate of 14.5% per annum compounded monthly. If he wishes to have R 175 000 in theaccount just before his trip, what must be his monthly contributions?A. R 3909.09B. R 4249.82C. R 3627.04D. R 4183.67

The problem involves future value of annuity. Future value (FV) is the value of a current asset at…

Answered: 2. Daniel intends to travel overseas…

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 2STP

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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
Lee wants to know how much he will have available to spend on his trip to Costa Rica in 2 years if he deposits $3,250 today in his Tax-Free Savings Account (TFSA) at an interest rate of 6% compounded quarterly? A $3,661.10 В $3,879.90 C $3,578.02 $4,210.90 E $3,483.32
8. An amount of P 250,000 is deposited now into a savings account that earns 8% per year. This amount will take care for the yearly allotment of a grandmother until shedies. The first allotment will be one year after the deposit is made. How much can thegrandmother withdraw every year?
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Jeni has decided that she needs to start saving for her retirement. She can afford $100 a month deducted automatically from her paycheck. She deposits it into an account that earns 4.5% interest compounded monthly. How much will she have in her account when she retires 42 years later? A. $ 14,922.70 B.$ 50,400.00 C. $132,213.00 D. $149,226.96
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1. Jessie has been contributing $250 at the end of each 6 – month period for the past 18 months to a savings plan that earns 6% semi-annually. а. What amount will he have one year from now if he continues with the plan? Work SETTING ON I/Y PMT PV N Future Value CALCULATOR in one year BGN or END P/Y C/Y b. How much was accrued in interest? Work Аccrued Interest

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