Kate invested $1,200 4 years ago at 7% per year for 7 years. 2 years ago, she invested $2,000 at 6.3% for 5 years. If she needs $23,000 12 years from today, then what expected return must she obtain when she reinvests the proceeds from her two previous investments. Assume that she reinvests as soon as the money is received.

Q: amy just retired with savings of $8 million. If she expects to live for 43 years and to earn 9% a…

A: Present Value of Annuity Due refers to a concept which determines the value of cash flows at present…

Q: Your grandmother bought an annuity from Manulife Financial for $306,248 when she retired. In…

A: Step 1:Step 2:

Q: Your sister just deposited $6,500 into an investment account. She believes that she will earn an…

A: Present Value (PV) calculates the current worth of a future sum of money or a series of future cash…

Q: Elizabeth has $31,209.00 in an investment account. Her goal is to have the account grow to…

A: The concept of TVM refers to the interest-earning capacity of money because money earned earlier is…

Q: Millie has inherited $4500 and has the choice between two options to invest her money. The first…

A: Future value refers to an amount of the current asset at some future date. It is helpful for…

Q: Exactly six years ago, Jay started investing $10,500 per year in an account that earned 5.00% p.a.…

A: To calculate how much Jay will have in his account exactly seven years from today, we can break down…

Q: dward made his investment, Sarah also inv ear compounded annually. One year after t O They both will…

A: Simple interest : Compound interest is the interest calculated on the principal and the interest…

Q: Bill O’Brien would like to take his wife, Mary, on a trip three years from now to Europe to…

A: Future value:

Q: ould like to accumulate $1,300,000 in investments for her financial independence in 24 years from…

A: Future value of the money is the amount that is being deposited and amount of compounded interest…

Q: Bella is 23 years old and wants to invest money for her retirement. She wants to have $2,000,000…

A: The future value of an investment is the expected value of money that will be received after a…

Q: Brenda Young desires to have $16,500 eight years from now for her daughter’s college fund. If she…

A: Data given: FV= $16500 n=8 years r=12% (compounded annually) Required: what amount should she…

Q: Maria wishes to accumulate $8,000 by the end of 5 years by making equal, annual, end-of-year…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: onnie Cole has just inherited​ $27,000. How much of this money should he set aside today to have…

A: Present value is value required today which would give the same future value based on the time and…

Q: Your sister just deposited $9,000 into an investment account. She believes that she will earn an…

A: The concept of time value of money will be used here. Since future value has to be computed we will…

Q: Keith is saving in a bank in order to purchase a new house in six years. She anticipates that the…

A: Future value refers to the value that an amount would assume at a future time period after…

Q: Your newborn daughter has received a total of 8,000 in cash from various friends and relatives. If…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Thomas Finley wishes to become a millionaire. His money market fund has a balance of $183,204 and…

A: A money market fund is mutual fund that invests in liquid financial instruments. These instruments…

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: Your sister just deposited $11,500 into an investment account. She believes that she will earn an…

A: The current worth that would be same as the amount saved by the sister in seven years at 10% can be…

Q: Sarah invests $5,400 in a retirement fund that pays 4.2% interest. Compare the value of the fund…

A: Future value is the value of an investment or asset at a specific date in the future, based on a…

Q: what will be the balance of her account after 30 more years assuming the same 8% interest

A: PRESENT VALUE:The concept of present value (PV) is a fundamental principle in finance, used to…

Q: Your sister just deposited $11,500 into an investment account. She believes that she will earn an…

A: Value of sister's investment account in 7 years is calculated using following equation Future value…

Q: Jillian invested $2,000 six years ago at 4.5 percent interest. She spends all of her interest…

A: Data given: Amount invested=$2000 Interest rate=4.5% Jillian spends all of her interest earnings…

Q: Hayley has received an inheritance. She would like to set aside funds today that will allow her to…

A: The present value of a prospective amount of money or series of payments with a predetermined…

Q: Three years ago, Julianne invested $7,580.00. She has earned and will earn compound interest of 2.00…

A: JulianneTeresaAmount invested by Julianne$7,580.00Interest rate2%13.11%Number of years84EarnCompound…