e past several years, Natalie Howard has been able to save regularly. As a result, she has $57,088 in savings and investments today. She wants to establish her own business in 3 years and feels she will need $100,000 to do so. Use the following table to answer the questions. If she can earn 3% on her money, how much will her $57,088 in savings/investments be worth in 3 years? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor. $ Calculate your answer based on the financial calculator. $ Will Natalie have the $100,000 she needs? If not, how much more money will she need? Enter "0" if she will have the $100,000 she needs. Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor. $ Calculate your answer based on the financial calculator. $ Given your answer to part a, how much will Natalie have to save each year over the next 3 years to accumulate the additional money? Assume that she can earn interest at a rate of 3%. Round the answer to the nearest cent. Round FVA-factor to three decimal places. Calculate your answer based on the FVA-factor. $ Calculate your answer based on the financial calculator. $ If Natalie can afford to sav
Over the past several years, Natalie Howard has been able to save regularly. As a result, she has $57,088 in savings and investments today. She wants to establish her own business in 3 years and feels she will need $100,000 to do so. Use the following table to answer the questions.
- If she can earn 3% on her money, how much will her $57,088 in savings/investments be worth in 3 years? Round the answer to the nearest cent. Round FV-factor to three decimal places.
Calculate your answer based on the FV-factor.
$Calculate your answer based on the financial calculator.
$Will Natalie have the $100,000 she needs?
If not, how much more money will she need? Enter "0" if she will have the $100,000 she needs. Round the answer to the nearest cent. Round FV-factor to three decimal places.
Calculate your answer based on the FV-factor.
$Calculate your answer based on the financial calculator.
$ -
Given your answer to part a, how much will Natalie have to save each year over the next 3 years to accumulate the additional money? Assume that she can earn interest at a rate of 3%. Round the answer to the nearest cent. Round FVA-factor to three decimal places.
Calculate your answer based on the FVA-factor.
$Calculate your answer based on the financial calculator.
$ - If Natalie can afford to save only $4,000 a year, then given your answer to part a, will she have the $100,000 she needs to start her own business in 3 years?
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