Glenn wants to have $144,269.90 in 6 years. He plans to make regular savings contributions of $13,500.00 per year for 6 years, with the first of these regular savings contributions made in 1 year. He also expects to make a special savings contribution of X in 3 years. He expects to earn 17.72 percent per year. What is X, the amount of the special savings contribution that Glenn will make in 3 years? O $9,216.63 (plus or minus 10 dollars) $6,650.77 (plus or minus 10 dollars) O $10,849.82 (plus or minus 10 dollars) O $15,387.89 (plus or minus 10 dollars) O none of the answers are within 10 dollars of the correct answer

Glenn wants to have $144,269.90 in 6 years. He plans to make regular savings contributions of $13,500.00 per year for 6 years, with the first of these regular savings contributions made in 1 year. He also expects to make a special savings contribution of X in 3 years. He expects to earn 17.72 percent per year. What is X, the amount of the special savings contribution that Glenn will make in 3 years? O $9,216.63 (plus or minus 10 dollars) $6,650.77 (plus or minus 10 dollars) O $10,849.82 (plus or minus 10 dollars) O $15,387.89 (plus or minus 10 dollars) O none of the answers are within 10 dollars of the correct answer

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Jose currently has $12,000.00 saved and plans to make quarterly savings contributions of $9,150.69. His first quarterly savings contribution is expected in 3 months. Jose expects to earn 18.04 percent per year. How many quarterly savings contributions of $9,150.69 does Jose need to make in order to have $138,300.00? O 6.65 payments O 10.48 payments O 10.13 payments O 6.12 payments O the answer cannot be obtained based on the given information
John already has $19,598 in his savings account. He plans to make contributions of $753.35 at the end of every three months, until he reaches $47,100. The interest rate is 9.12% compounded annually. a) In how many years and months will he reach his goal? Round up to the next month. P/Y = N = He will reach his goal in A year(s) and A month(s). b) After John reaches $47,100, he wants to withdraw $3,700 at the start of each half year. For how many years and months can he make the withdrawals? Round up to the next month. P/Y= A/ N = A He will withdraw for A A/ year(s) and A month(s).
Tariq Ahmed is 25 years old and is saving for her retirement. He is planning on making 40 contributions to her retirement account at the beginning of each of the next 40 years. The first contribution will be made today and the final contribution will be made 40 years from today. The retirement account will earn a return of 12 percent a year. If each contribution he makes is $5,000, how much will be in the retirement account 40 years from now?
Mark just took out a loan from the bank for $3,700.00. He plans to repay this loan by making a special payment to the bank of $800.00 in 4 years and by also making equal, regular annual payments of X for 5 years. If the interest rate on the loan is 9.73 percent per year and he makes his first regular annual payment in 1 year, then what is X, Mark's regular annual payment? O $969.33 (plus or minus $1) O $824.76 (plus or minus $1) O $1,178.91 (plus or minus $1) $1,113.89 (plus or minus $1) O none of the answers are within $1 of the correct answer
Aaron would like to have $2,000,000 when he retires 42 years from now. How much should he set aside each week if his investments can earn 9.1 % ?
Winston is saving for a trip that he'd like to take for his 25th birthday in three years. If he invests $265 at the end of every three months for the next three years, how much will he have altogether if his funds earn 4.3% compounded quarterly? Answer:
Brianca plans to save $5,000, $1,000, and $42,000 a year over the next three years, respectively. How much would you need to deposit in one lump sum today to have the same amount as Brianca three years from now if you both earn 10.9 percent, compounded annually?
Your great-uncle Claude is 82 years old. Over the years, he has accumulated savings of $180,000. He estimates that he will live another 18 years at the most and wants to spend his savings by then. (If he lives longer than that, he figures you will be happy to take care of him.) Uncle Claude places his $180,000 into an account earning 9 percent annually and sets it up in such a way that he will be making 18 equal annual withdrawals—the first one occurring one year from now—such that his account balance will be zero at the end of 18 years. How much will he be able to withdraw each year?
am. 41.
Mr. Mangano is considering taking early retirement, having saved $400,000. Mr. Mangano wishes to determine how many years the saving will last if he withdraws $60,000 per year at the end of each year. Mr.Mangano's savings can earn 10 percent per year. 11.67 years. 11.35 years 10.90 years 11.53 years. 12.01 years
Sean plans to invest $10,000 in a savings account that pays 1.5% compounded quarterly. His friend suggests that he invest in an account paying the same interest rate but that pays interest compounded monthly. How much more interest will he earn at the end of 10 years if he follows his friend's advice?
A recent college graduate hopes to have $200,000 saved in their retirement account 25 years from now by contributing $150 per month in a 401(k) plan. The goal is to earn 10% annually on the monthly contribution. Will they have the $200,000 at the end of the 25 years?

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