ants to retire with $30,000 per month. She needs $3,000,000 in principal at the time she retires in order to generate this amount of monthly income if the interest rate is 12%. If Melissa has 25 years before retirement

Q: Catherine Dohanyos plans to retire in 15 years. She will make 15 years of monthly contributions to…

A: We have to find The amount of her monthly contributions.

Q: Your uncle still wouldn't help you after you found your new job. The bills are right this month, so…

A: Solution:- Your uncle still wouldn't help you after you found your new job. The bills are right this…

Q: If Max has $40,057.29 in his investment account, what effective interest rate would he need to earn…

A:

Q: Eugene began to save for his retirement at age 32, and for 10 years he put $ 275 per month into an…

A:

Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: Tony Ring wants to attend Northeast College. He will need  $90,000 4 years from today. Assume Tony's…

A: According to the given information,

Q: The Jackson Five has chosen to invest in an orphanage for misplaced foundlings like Annie, and they…

A:

Q: Henry is going to retire in 22 years and would like to invest $50,000 now into his retirement…

A: Compounded Monthly formula :

Q: major airline is plannin

A: Given that a major airline is planning to purchase new airplanes. It wants to borrow $800 million by…

Q: You have been accepted to study gourmet cooking at Le Cordon Bleu Culinary Institute in Paris,…

A:

Q: Emily would like to accumulate $205,000 for his retirement in 11 years. If he is promised a rate of…

A: Emily would like to accumulate $205,000 for his retirement in 11 years. He is promised a rate of…

Q: I've reached a goal of saving $6,500 and want to put my money into a savings account for one year.…

A: Given P=6500 r=8%=0.08 t=1 year

Q: Howard University’s School of Business will need several new commercial printers in 2 years and Dean…

A: Consider the provided question, Given, P = $60,000 Time = 2 years Rate of interest = 6% = 0.06…

Q: Leo needs $30,000 to cover

A: