Ritchie and Isabel have a new grandson. How much money should they invest now so that he will have $80,000 for his college education in 18 years? The money is invested at 4.2% compounded quarterly. S
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- Guyton and Jessica have a new grandson. How much money should they invest now so that he will have $79,000 for his college education in 18 years? The money is invested at 4.1% compounded quarterly.Alfredo and Brittany have a new grandson. How much money should they invest now so that he will have $63,000 for his college education in 18 years? The money is invested at 6% compounded quarterlyMarshall and Tiana have a new grandson. How much money should they invest now so that he will have $63,000 for his college education in 18 years? The money is invested at 4.65% compounded annually.
- Brenda Young desires to have $16,500 eight years from now for her daughter’s college fund. If she will earn 12 percent (compounded annually) on her money, what amount should she deposit now?Donald Trumptobe predicts that in 100 years, he will have four generations of offspring (that is, children, grandchildren, great-grandchildren, and great-great-grandchildren). He estimates that each person will have two children. How much will he have to have deposited so that each of his great-great-grandchildren would have $1,000,000 or more in 100 years if his money earns 6.5% compounded monthly? (Round your answer to the nearest cent.)$ or moreIt is Jerry's 14th birthday and his parents plan to invest some money so that they will have $17 000 on Jerry's 18th birthday for his post-secondary education. They invest in an RESP that pays 8.6% per year, compounded quarterly. How much money must Jerry's parents invest now to reach their goal?
- James invests $20,000 on his 25th birthday and plans to add $2,000 to his investment each year until his 40th birthday. The interest rate is 5.5% compounded annually. a) What will be the value of Clark's investment on his 40th birthday? b) How much will his investment have earned by his 40th birthday?How much should Charles save to put in an education fund for his child? Assume Charles needs $24,000 for their child’s education. Future value for 10.00 years untill starting college at an expected annual inflation of 4.00% percent.Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?
- Shauna wishes to establish a trust fund from which her son can withdraw $50,000 every six months for 18 years, when he reaches 30 years old. After 8 years, he will receive $500,000 for college. The trust will be invested at 8.7% per annum compounded semi-annually. How large should the trust be?Assume that a couple invests $1000 upon the birth of their daughter. Assume that the investment earns 6.8% compounded annually. What will the investment be worth on the daughter’s 18th birthday?Luis wants to have $2,000,000 in net worth when he retires. To achieve this goal, he plans to invest $10,000 each year (starting one year from now) into an account that earns 10% interest compounded annually. The amount of time before Luis can retire as a multimillionaire is how many years?