3. Starting on her 30th birthday, a women invests x pesos every year on her birthday in an account that grows at an annual effective interest rate of 7%. What should x be if she wants this fund to grow to Php 400,000 just before her 65th birthday?
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- Starting on her 30th birthday, a woman will invest an amount every year on her birthday in an account that grows at an annual rate of 7%. What should be the amount invested if she wants her fund to $300,000.00 just before his 65th birthday?4. Millet wants to provide a ₱200,000 graduation gift for her daughter Mae who is now 16 years old. She would like the fund to be available by the time her daughter is 20. She decides on an investment that pays 10% compounded quarterly. How large must the deposit be?6. If you desire to have $80,000 for a down payment for a house in 7 years, what amount would you need to deposit each year for these 7 years? Assume that your money will earn 10 percent per year. 7. Kate deposits $9,900 each yearinto her retirement account. If these funds have an average earning of 11 percent over the 40 years until her retirement, what will be the value of her retirement account?
- How much money should Abigail invest today into a fund that earns interest at 3.75% compounded quarterly, if she wants to receive $3,000 at the end of every 6 months for the next 6 years?How much money should Prisha invest today in a fund that earns interest at 4.02% compounded quarterly, if she wants to receive $7,750 at the end of every 6 months for the next 3 years?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?
- 2. Ms. Pan Aram has set the goal of accumulating Php 4,000,000 for her son's college fund, which will be needed 18 years in the future. Her investment agent advises her that she can deposit today to Bank X that earns 8% annual interest. a. Option A: How much she needs to deposit today in the bank? b. Option B: If she will be depositing an equal payment of Php 107,000 per year for 18 years at 8% annual interest, how much is the future value? c. Which is the better option Ms. Pan should decide? Why?A person wants to accumulate RM 20,000 for his marriage fund at the end of 8 years. If he deposits RM1500 in the fund at the end of each of the first 4 years, and X amount in the fund at the end of each of the second 4 years, find X amount, if the fund is earning 7% effective. (answer to nearest ringgit).H5. Mary has $55,000 in a brokerage account, and she plans to deposit an additional $8,500 at the end of every future year until her account totals $300,000. She expects to earn 15% annually on the account. How many years will it take to reach her goal
- 1. Abbigail wish to establish a trust fund from which her daughter can withdraw $6,000 every six months for 15 years, when she reach 16 years old. At the end of which time she will receive the remaining money in the trust, which you would like to be $25,000. The trust will be invested at 6% per annum compounded semi-annually. How large should the trust be? 2. Dennis McDonald has just started working with the NCB as a sales representative and is just trying to catch up on having money for retirement. NCB offers him a pension plan with an annuity that is guaranteed to earn 11% interest compounded annually. She plans to work for 12 years before retiring and would then like to be able to draw an income of $110,000 per annum for 16 years. How much must be deposited per annum into his retirement fund to accomplish this? DO NOT USE EXCEL TO ANSWER DO NOT USE EXCEL SHOW ALL WORKINGSSuppose you make an annual contribution of P9,993 each year to a college fund for a niece. He is 6 years now, and you will start next year and make the last deposit when he is 19. The fund is a money market account earning 6.74% per year. What will it be worth immediately after the last deposit?A mother wishes to have Php800,000 eight years from today for her son’s graduation. How much should she deposit monthly in a bank if it pays interest at 14%, m = 12?