(Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $100,000 he earned providing Mr. Burns entertainment 5 years ago at 7.5 percent annual interest and that he starts investing an additional $1,500 a year today and at the beginning of each year for 20 years at the same 7.5 percent annual rate. How much money will Homer have 20 years from today? The amount of money Homer will have 20 years from now is (Round to the nearest cent.)
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- (Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $180,000 he earned providing Mr. Burns entertainment 10 years ago at 11 percent annual interest and that he starts investing an additional $1,500 a year today and at the beginning of each year for 20 years at the same 11 percent annual rate. How much money will Homer have 20 years from today? The amount of money Homer will have 20 years from now is $. (Round to the nearest cent.)(Future value of an annuity) Imagine that Homer Simpson actually invested the $160,000 he earned providing Mr. Burns entertainment 9 years ago at 10.5 percent annual interest and that he starts investing an additional $1,900 a year today and at the beginning of each year for 20 years at the same 10.5 percent annual rate. How much money will Homer have 20 years from today? Question content area bottom Part 1 The amount of money Homer will have 20 years from now is $enter your response here. (Round to the nearest cent.)(Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $130,000 he earned providing Mr. Burns entertainment 7 years ago at 12 percent annual interest and that he starts investing an additional $2,400 a year today and at the beginning of each year for 5 years at the same 12 percent annual rate. How much money will Homer have years from today? The amount of money Homer will have 5 years from now is $. (Round to the nearest cent.) View an example Get more help. @ NO 2 30² F2 W S X ommand # 3 80 F3 E D $ 4 C 000 000 F4 R F % 5 V FS T G 6 MacBook Air B F6 Y & 7 H 44 F7 U N ** 8 CC J PII - ( M - 0 9 K MOSISO DD F9 O 1 V 0 H L FIG Clear all P > command : ; a + { I Check answer = [ ? option 48) 11 1 F12 } 1 \
- (Future value of an annuity) Imagine that Homer Simpson actually invested the $ 200,000 he earned providing Mr. Burns entertainment 10 years ago at 10.5 percent annual interest and that he starts investing an additional $ 1,600 a year today and at the beginning of each year for 15 years at the same 10.5 percent annual rate. How much money will Homer have 15 years from today? Question content area bottom Part 1 The amount of money Homer will have 15 years from now is $ enter your response here . (Round to the nearest cent.)Mick Mitchell wishes to have $120,000 in seven years. If he can earn annual interest of 12%, how much must he invest today? Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of S1 table.) (Click the icon to view Present Value of S1 table.) (Click the icon to view Future Value of S1 table.) OA. $265,320 В. $1,210 OC $54,240 OD. S111,960Can 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?
- You would like to have enough money saved to receive a growing annuity for 25 years, growing at a rate of 4% per year, the first payment being $60,000 after retirement, so that you and yourfamily can lead a good life. How much would you need to save in your retirement fund toachieve this goal? (assume that the growing perpetuity payments start one year from the date ofyour retirement. The interest rate is 12%)?Gary is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $31, 000 payment each year for the next 18 years. Factor Table Appendix 9.1 Present value of $1 received in n periods = 0.1799 Appendix 9.2 Present value of an annuity of $1 per period= 8.2014 Calculate how much Gary should be willing to pay for the annuity if he can invest his funds at 10% ( For calculation purposes, use 4 decimal places as displayed in the factor table provided and round the final answer to 0 decimal places, e.g. 58,971)answer the following the topic is logical operation 1.Clarence has already accumulated 250,000 pesos in his retirement plan. If she contributes 8,000 pesos at the end of every quarter for the next eight years, and 7,000 pesos per quarter for the next 7 years, what amount will he have in his retirement plan at the end of 15 years? Assume his plan will earn 6.8% compounded quarterly.2. Calculate the future value of an ordinary annuity consisting of bimonthly payments of 7,430 pesos for 7 years if the rate of interest was 12.6% compounded bimonthly for the three years and will be 10.8% compounded bimonthly for the last four years.
- Perpetuity: Your grandfather is retiring at the end of next year. He would like to ensure that his heirs receive payments of $10,000 a year forever, starting when he retires. If he can earn 6.5 percent annually, how much does your grandfather need to invest to produce the desired cash flow? Please use Excel to solve(Future value of an annuity) In 7 years you are planning on retiring and buying a house in Oviedo, Florida. The house you are looking at currently costs $100,000 and is expected to increase in value each year at a rate of 4 percent. Assuming you can earn 12 percent annually on your investments, how much must you invest at the end of each of the next 7 years to be able to buy your dream home when you retire? a. If the house you are looking at currently costs $100,000 and is expected to increase in value each year at a rate of 4 percent, what will the value of the house be when you retire in 7 years? $nothing (Round to the nearest cent.)(Future value of an annuity) Upon graduating from college 40 years ago, Dr. Nick Riviera was already planning for his retirement. Since then, he has made deposits into a retirement fund on a monthly basis in the amount of $100. Nick has just completed his final payment and is at last ready to retire. His retirement fund has earned 7 percent compounded monthly. Use five decimal places for the periodic interest rate in your calculations. a. How much has Nick accumulated in his retirement account? b. In addition to this, 20 years ago Nick received an inheritance check for $15,000 from his beloved uncle. He decided to deposit the entire amount into his retirement fund. What is his current balance in the fund? a. The amount Nick has accumulated in his retirement account is $. (Round to the nearest cent.)