Siri plans to retire when her simple annuity savings account has enough money to receive 10000.00 per month for 20 years starting at the end of her first month after her retirement. she starts saving 4420.00 per month. Calculate when should Siri retire from today if her savings account pays 4.9% compounded monthly. Round to the nearest year.

Q: Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos…

A: Quarterly payment (Q) = 15000 pesos n = 25 years = 100 quarters Interest rate = 10.5%

Q: Abby has decided to invest $60 at the end of each month into a retirement plan that has an annual…

A: Computation of the money that will be saved by Abby at the completion of 8 years is shown:

Q: How many payments can Gabriel expect to receive in retirement? He expects to earn 7.04 percent in…

A: The concept of TVM refers to the interest-earning capacity of money because which money received…

Q: Q) Susan is 22 years old and today she opened a savings account that offers an interest rate of 12%…

A:

Q: If she starts making deposit amounts in one year and her deposits increase at the inflation rate of…

A: Inflation:  The Wholesale Price Index's (WPI) annual percentage change in value is known as…

Q: David invests $300 into an account with a 2.3% interest rate that is compounded semiannually. How…

A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…

Q: Gary decides to set up a retirement fund by depositing $182 at the end of each week for 17 years.…

A: Calculation of Amount at the end of 17 years:To calculate the amount at the end of 17 years, the…

Q: John and Rosamond want to retire in 8 years and can save $230 every 3 months. They plan to deposit…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: Ava Darling plans to buy a home and can deposit $1,772 per year for the next 5 years.. If the annual…

A: To calculate the future value of Ava Darling's deposits for the down payment, we can use the future…

Q: Ava enjoys investing in annuity that will pay her $5,000 at the end of each month for 5 years after…

A: Monthly payment = $ 5000 Period = 5 Years Number of monthly payment = 5*12 = 60 Annual interest rate…

Q: Sheila is planning to retire in 9 years. For 9 years, at the end of each year Sheila plans to invest…

A: Annual investment (C) = $6,000 Interest rate (r) = 0.07 Number of investments (n) = 9 Final value =…

Q: Your grandparents have their life savings of $750,000 in a savings account that pays 6.7% interest…

A: Step 1 An inflow or outflow amount that happens at each period of a financial stream is known as a…

Q: I want 800000 for retirement in 25 years. How much would she need to deposit into the account each…

A: Future value (FV) = 800,000 Period = 25 Years Number of monthly deposits (n) = 25*12 = 300 Interest…

Q: Puan Elly is planning to retire in 20 years and she plans begin withdrawing RM 50,000 anuallannually…

A: We need to use present value of ordinary annuity formula to calculate value of your retirement…

Q: Goran plans to set aside money for his young daughter’s college tuition. He will deposit money in an…

A: Given: Future value of annuity = $71,000 Interest = 2.4%

Q: what amount will he have in his retirement plan at  the end of 15 years? Assume his plan will earn…

A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…

Q: Amy plans on putting $75 at the beginning of each month into a retirement savings account for the…

A: The annuity is the series of payments for certain period of time. It will provide the future value…

Q: Nilda expects to receive P20,940 at the beginning of each period per year in Social Security…

A: The series of payments at the beginning of each period is called an annuity due.

Q: Gwen decides to make regular deposits every month into an account that earns 8% annual interest,…

A: The question is based on concept of present value and future value of money .  formula as: FV=pmt…

Q: Tina saved $679,000 for her retirement annuity. If she wants it to last her 30 years, earing 4.56%…

A: An annuity is a stream of equivalent periodic cash flows that occurs over a specific time duration.…

Q: Indira is planning for her retirement. She calculates she will need to withdraw quarterly payments…

A: An Annuity is a continuous flow of systematic timely cash flows made or received for a stipulated…

Q: To help out with her retirement savings, Kaitlin invests in an ordinary annuity that earns 2.4%…

A: We will apply the required formula to calculate the quarterly payment, we will take the future value…

Q: When Jasmine retires she has $950,000 in a retirement account that earns 6% annual interest,…

A: Using PMT function in excel

Q: Almirah wants to have P50,000 at the end of 4 years for her graduation expenses and blow-out party.…

A: Investor always prefers compounding interest rather than investing in investments that offer simple…

Q: A 40-year-old woman decides to put funds into a retirement plan. She can save $1,000 a year and earn…

A: We need to calculate the persent value of annuity  by using this formula.    PV of annuity =CF*…

Q: Joe plans to set aside money for his young daughter's college tuition. He will deposit money in an…

A: Future value of an annuity: Future value of the annuity is the annuity factor used to calculate the…

Q: Leon and Heidi decided to invest $3,250 annually for only the first eight years of their marriage.…

A: Solution:-When an equal amount is invested each periodat end of period, it is called ordinary…

Q: re in 20 years. She opens up a retirement account with an APR of 5.25% compounded monthly. She will…

A: There is need of proper planning for the retirement and if there is proper planning on time better…

Q: Sara met with a financial planner and has determined that she will need $1,250,000 when she retires…

A: Funds needed after 30 years (FV) = $1,250,000 Monthly interest rate (r) = 0.00470833333333333 (i.e.…

Q: John and Rosamond want to retire in 10 years and can save $170 every three months. They plan to…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: How much should Mr. Reyes deposit each year

A: An annuity is a fixed amount that is deposited by an investor over a certain period at a fixed…

Q: John and Rosamond want to retire in 10 years and can save $140 every three months. They plan to…

A: Future value refers to the total value of an investment or savings at a specified future date,…

Q: Ms. Lee is thinking about her retirement fund and she still have another 15 years to reach her…

A: Annual deposit (P) = RM 4,800 Annual interest rate (r) = 6% Number of annual deposits (n) = 15

Q: John and Rosamond want to retire in 5 years and can save $140 every three months. They plan to…

A: Future value is a financial concept that is crucial to understanding the satisfaction of income over…

Q: Sally has decided to invest $70 at the end of each mouth into a retirement plan that has an annual…

A: Computation:

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.