32. Exactly five years from today, Prisha would like to buy an entertainment system with cash. Prisha currently has $750 saved in an investment account that pays interest of 4.25% p.a., but with monthly compounding. If Prisha deposits an additional $35 per month (with the first deposit made one month from today) into the account, what is the maximum amount that Prisha will be able to pay for her entertainment system exactly 5 years from today?

Q: ) Assume that Luke Smith wants to retire in 20 years. He expects to live for another 15 after his…

A: In financial planning the present value the required amounts in future must be equal to future value…

Q: Gabby is planning to buy a home.  She has some money for a down payment already saved.  She sees a…

A: Monthly payment on the borrowing is calculated using following equation Monthly payment =…

Q: Karla Lopez deposit $3000 a year into her retirement account if these phones have an average running…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: James and Kate would like to have $30,000 in 6 years in order to purchase anew mini van. What amount…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: Jace wants to save to buy a car. Jace plans to invest some of their pay every month into an account…

A: Monthly payments refers to the periodic payment. Periodic payment can be made monthly, quarterly,…

Q: Find the interest Thomas has $1,000 in his bank account today to spend on a TV in one year. Thomas…

A: Particulars Values Present value $ 1000.00 Periodic deposits 0.00 Future value  $ 1,030.00…

Q: Sally plans to make continuous deposits to a savings account. She wants to accumulate $40,000 in 10…

A: Annual payment refers to the amount paid on annual basis for a specific period of time on which…

Q: 15. If the amount required is $10,000 after 5 years at 3% compounded monthly, what is the monthly…

A: Inorder to accumulate a given amount of money or equivalent to the given present value, periodic…

Q: To help with a down payment on a home, Jenny is going to invest. Assuming an interest rate of 1.67%…

A: Using excel PV function

Q: Hannah wants to have $ 7500 to help pay for a new deck in 16 years. If she wants to put her money…

A: GIVEN, Future Value  = $7500 Interest rate(r)  = 6.25/100 = 0.0625 Time Period(t) = 16 years Present…

Q: Find the period Thomas has $1,000 in his bank account today to spend on a TV. Thomas needs exactly…

A: This is based on the concept of time value of money. Money invested or deposited today grows in…

Q: How much will be in Sarah’s account in 10 years if she deposits $5000 in an account that pays 10%…

A: the balance in the account will be the amount deposited along with the interest accrued over the…

Q: Alexa needs $8,600 worth of new equipment for his shop. He can borrow this money at a discount rate…

A: Loan Proceeds are the amount that is disbursed from a loan, which is usually lesser than the loan…

Q: Sabrina plans to save for next two years. She plans to put away $1000 every 6 months starting 6…

A: The value of the amount saved is the future value of the savings which is the savings amount plus…

Q: Ingrid wants to buy a $16,000 car in 8 years. How much money must she deposit at the end of each…

A: Solution:-When an equal amount is deposited each period at end of period, it is called ordinary…

Q: Hannah wants to have $ 1500 to help pay for a new deck in 10 years. If she wants to put her money…

A: Time has been valuable in all aspects but in terms of finance, time has a money value. The worth of…

Q: Can you show me how this is done?   Ava Darling plans to buy a house in 10 years and needs $17,446…

A: The principle of present value implies that a sum of money today is worth more than a sum of money…

Q: Kyoko has $10,000 that she wants to invest. Her bank has several investment accounts to choose from,…

A: Compound = Daily = 365Present value = pv = $10,000Future Value = fv = $15,000Time = t = 6 * 365 =…

Q: 6) Susan is looking to purchase her first home five years from today. The house costs $1,550,000.…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: Hannah wants to have $ 5500 to help pay for a new deck in 13 years. If she wants to put her money…

A: Future value = fv  = $5500 Time = t = 13 years Interest rate = r = 8%

Q: 2. (a) A college student, Amy, decides to fund a retirement account with $2000 per year for 8 years,…

A: Future value (FV) could be a concept utilized in fund to decide the value of an speculation or…

Q: Find the interest Thomas has started working, and he will be putting $100 aside, at the end of every…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Hannah wants to have $1500 to help pay for a new deck in 13 years. If she wants to put her money…

A: Present Value = Future value / e^rt Where r = 8.50% t = 13 years