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- Subject - account Please help me. Thankyou.Suppose someone wants to accumulate $55,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $60 per month into an account with an APR of 7%. Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. A. No, because the amount that will be in the college fund, $enter your response here, is less than the goal of $55,000. B. Yes, because the amount that will be in the college fund, $enter your response here, is more than the goal of $55,000.* Suppose someone wants to accumulate $65,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $120 per month into an account with an APR of 5%. Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) OA. No, because the amount that will be in the college fund, $ B. Yes, because the amount that will be in the college fund, $ is less than the goal of $65,000. " is more than the goal of $65,000. "
- Suppose someone wants to accumulate $40,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $200 per month into an account with an APR of 8%. Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) OA. Yes, because the amount that will be in the college fund, S OB. No, because the amount that will be in the college fund, S is more than the goal of $40,000. is less than the goal of $40,000.A technology company deposited $62,580 into an account for yearly scholarships to be awarded to business students in Canada. The scholarship will be given at the beginning of every year forever, with the first scholarship to be awarded 4 years after the amount was deposited. What will be the size of these annual scholarships if the interest rate is 6.6% compounded semi-annually? Please include a well - labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions. Round to the nearest cent.On January 1, you plan to take a trip around the world upon graduation four years from now. Yourgrandmother wants to deposit sufficient funds for this trip in an investment account for you. On thebasis of a budget, you estimate that the trip currently would cost $15,000. Being the generous andsweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of thenext four years, starting on December 31, 2015. The account will earn 6 percent annual interest,which will be added to the account at each year-end.Required (show computations and round to the nearest dollar):1. How much money will you have for the trip at the end of year 4 (i.e., after four deposits)?2. What is the total amount of interest earned over the four years?3. How much interest revenue did the fund earn in 2015, 2016, 2017, and 2018?
- A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,000 each, with the first payment occurring today, your child's 12th birthday. Beginning on your child's 18th birthday, the plan will provide $25,000 per year for four years What retum is this investment offering?A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $16,300 each, with the first payment occurring today, your child’s 12th birthday. Beginning on your child’s 18th birthday, the plan will provide $32,000 per year for four years. What return is this investment offering?You are a real estate agent thinking of placing a sign advertising your services at a local bus stop. Thesign will cost $4,300 and will be posted for one year. You expect that it will generate additionalrevenue of $817 a month. What is the payback period?
- Annabelle, a busy professional, is seeking a way to invest a fixed amount of her monthly salary into an actively-managed investment fund. She has indicated she has a surplus $500 per month to invest. Which investor service would be suitable for her? A.Automatic investment plan of $500 per month B.Automatic withdrawal plan of $500 per month C.$500 conversion privilege D.Regular withdrawal plan of $500 per monthAs a future graduate of the University of Minnesota, someday you would like to endow a scholarship (meaning give the university money in your name) to pay for tuition expenses for future UMN students. Assume you just graduated (congratulations!). You plan to work for fifteen years after graduation before endowing this scholarship (at the end of the fifteenth year AFTER graduation). Annual tuition at UMN is $10,000 today, and is expected to grow at the long-term average rate of inflation of 3% per year forever. Savings are expected to earn a return of 7% per year forever. a) The first tuition payment is due one year after the scholarship is endowed. How much will the tuition be when your scholarship makes the first payment? b) You would like the scholarship to pay all tuition for one student per year for the twenty years following the creation of the endowment, how much money do you need to endow the scholarship? c)If you would like the scholarship to pay for tuition for one student…Need help with Case C & D and Chart thanks.
