How much should Ester save today if he wishes to obtain n$ 629.00 in 5 years time? He expects to earn 70% interest per year compounded once a year.
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A: Investment = $ 500 Annual interest rate = 3% Period = 5 Years
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A: Future value of annuity = Annual payment x [(1 + i)n - 1]/i i = Interest rate n = number of years
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A: Future Value: The future value is the amount that will be received at the end of a certain period.…
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A: The Present Value of a lump sum: The Present Value of a lump sum can be computed with the formula:
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A: To open the "FV function" window - MS-Excel --> Formulas --> Financials --> FV.
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A: John should save today if he wishes to obtain n$ 547.00 in 5 years time if he expects to earn 3%…
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A: Present Value = Future Value / (1+r)^n Where, r = rate of return per period i.e. 7.8%/12 = 0.65% or…
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A: The common formula used to calculate is Future value = Present value (1 +r )^n
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Q: You
A: An annuity refers to a series of payments made at regular interval of time.
How much should Ester save today if he wishes to obtain n$ 629.00 in 5 years time? He expects to earn 70% interest per year compounded once a year.
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- How much should John save today if he wishes to obtain n$ 547.00 in 5 years time? He expects to earn 3% simple interest per year.Suppose that Jacob would like to invest at the end of each month for the next 15 years into an account paying 6.72% compounded monthly in order to accumulate $10,000 at the end of that time? How much money must Jacob deposit into the account each month? How much interest will he have earned?Suppose James will have $25,000.00 for a down payment on a house in 6 years. How much would he have to invest today (present value) if his investment earns a nominal rate of 5 ¼ % compounded monthly? b. How much interest did James’s account earn during the 6 years?
- Can you help me work out this problem in detail? Ben wants to receive $6,000 a year for 10 years. How much must he invest today in an annuity that pays 7% annually?11) Max purchases a lot for $300,000. Max will pay $25,000 dollars at the end of each year. the interest rate is 4% compounded annually, how many full payments must be made? a) what will be the size of the payment one year after the last full payment?You want to be able to withdraw $40,000.00 from your account each year for 15 years after you retire.You expect to retire in 20 years.If your account earns 5% interest compounded annually, how much will you need to deposit each year until retirement to achieve your retirement goal?You will need to deposit_$_____ each year.
- Charlie wants to withdraw $12,000 each year forever from his account. At an interest rate of 6% per annum, the amount he should deposit in his account should be:?Bro decides to take out a loan for $50,000 for 5 years at 7% monthly. If he pays an extra $200 per month when will the loan be paid off and how much interest will be saved?Evaristo would like to invest N$ 12 500 a month at the beginning of each month at an interest rate of 12% compounded quarterly. a how much will he have after 6 years b how much interest does he earn on a quarterly basis.
- You want to be able to withdraw $50,000 from your account each year for 25 years after you retire. You expect to retire in 15 years. If your account earns 7% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?How long will it take for Michelle's investment to be worth $55,000 if she presently has $32,000 and can earn 10% interest, compounded annually?You want to be able to withdraw $50,000 from your account each year for 20 years after you retire.You expect to retire in 15 years.If your account earns 4% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?