Suppose you make an annual contribution of P9,993 each year to a college fund for a niece. He is 6 years now, and you will start next year and make the last deposit when he is 19. The fund is a money market account earning 6.74% per year. What will it be worth immediately after the last deposit?

Q: how long in years and months will she receive the payments

A: RRSP: RRSP stands for Registered Retirement Savings Plan. RRSP is a kind of retirement savings and…

Q: Kate's grandmother promises to give her $5,000 at the end of four years and $6,000 at the end of…

A:

Q: Abdullah's current salary is $80,000 per year, and she is planning to retire 25 years from now. He…

A: Here,Annual Income is $80,000Increase in salary every year is $300Deposit % is 6% of Annuall Salary…

Q: Roger decides to start an investment account by depositing $5,000 today. In one year he will invest…

A: Initial deposit (Year 0) = $5,000 Year 1 Deposit = $500 Year 2 Deposit = $600 Year 3 Deposit = $700…

Q: Mr. Wise is creating a college investment fund for his daughter. He will put in P850 per year for…

A: To open the "FV function" window - MS-Excel --> Formulas --> Financials --> FV.

Q: Derek will deposit $255.00 per year into an account starting today and ending in year 21.00. The…

A: The Future Value of Annuity Due refers to the concept which determines the sum total of all the cash…

Q: Derek will deposit $1,169.00 per year into an account starting today and ending in year 5.00. The…

A: The FV of an investment refers to the combined value of the cash flows at a future date assuming…

Q: Suppose you want to provide for the college education of your son. He will begin college six years…

A: The objective of this question is to find out the present value of an annuity that will provide…

Q: Joe wants to have $50,000 ten years from now to use for a down payment on a house. How much should…

A: Given: Future value = $50,000 Interest rate = 4.5% Years =10

Q: Suppose your parents decide to give you $10,000 to be put in a college trust fund that will be paid…

A: Present value = $10,000 Interest rate per period, r = 1.5% Number of compounding periods, n = 5 × 4…

Q: The AGI of the Newtons, a married couple, is $199,000 this year. They would like to contribute to a…

A: 2. The maximum  to contribute can be calculated as follows : Results obtained :

Q: Paola Watkins currently has $20,000 in her retirement fund and she will invest $1,000 in this fund…

A: Future value of money is the amount of deposit done and amount of interest accumulated over the…

Q: You are going to save money for your son’s education. You have decided to place $4,146 every half…

A: Variables in the question:Deposit (PMT)=$4146Rate=9.51% p.a.Semi-annual rate==4.755%N=3 yearsnper=3…

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

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

Q: Your parents start saving for your sister's college education. She will begin college at age 18 and…

A: Present value and future value is computed by discounting or compounding an amount. Future value is…

Q: . How much should you deposit monthly to accumulate $85,000 in 15 years?

A: Future Value of Annuity: It represents the future worth of current annuity payments made…

Q: Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly…

A: Present Value is the current price of future value which will be received in near future at some…

Q: Assume the total cost of a college education will be $525,000 when your infant child enters college…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Your uncle gives you $92,000 as a gift. Rather than give you a lump-sum, your uncle structures the…

A: Giftable amount (PV) is $92000 Annunity per year (PMT) is $16,250 Interest rate is 12% To Find:…

Q: Your daughter just turned 5 years old. You plan to send her to college beginning on her 18th…

A: First, we need to determine the PV of the college expenses at age 18 using the PV of annuity due…

Q: young couple wants to have a college fund that will pay birr 30,000 at the end of each half-year for…

A: An annuity is a financial product that provides a series of regular payments to an individual over a…

Q: Suppose Ted deposits $10,000 in a savings plan earning 5% compounded annually and Tess deposits…

A: Future value  The value of the current investment on a future date is called the future value. The…

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: 4. Suppose you make an annual contribution of BD300 each year to a college education fund for a…

A: An annuity: An annuity is a fixed, constant contribution that is made at fixed intervals over a…

Q: ou are saving for the college education of your two children. They are two years apart in age; one…

A: Present value is the equivalent today of the future money required based on time and interest rate…

Q: New parents wish to save for their newborn's education and wish to have $37,000 at the end of 18…

A: Given  P=$37,000 r= 7.8% n=1 t=18 years

Q: Your sister will start college in five years. She has just informed your parents that she wants to…

A: Here, To Find: Amount of savings to invest each year for next five years =?

Q: You need P4,000 per year for four years to go to college. Your father invested P5, 000 in 7% account…

A: Initial deposit (D) = P 5000 Withdrawal in year 17 (W1) = P 4000 Withdrawal in year 18 (W2) = P 4000…

Q: An engineer planning for her retirement will deposit 15% of her salary each year into a stock fund.…

A: The future value is the amount that will be received at the end of a certain period. In simple…

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

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: nim to receive $3000 each month for 5 years, beginning 18 4.2% p invest the money today in an…

A: Here we will use the concept of time value of money to answer the questions.

Q: A retired couple plans to supplement their Social Security with interest earned by a $210,000…

A: Compound interest is a method of accumulating interest in which the amount earned in a period is…

Q: The Mellows have decided to invest in a college fund for their young son. They invested $30,000 in a…

A: Rate The interest rateNper  The total number of payments Pmt Payment per periodPv  The present…

Q: Linda expects to receive P35,569.22 , 9 years from now. How much should she invests for three…

A: Annuity is the series of payment made by an investor over the period of time to accumulate future…

Q: Your favorite uncle wants to give each of his favorite nieces and nephews $30,000 now while he is…

A: First, convert R as a percent to r as a decimalr = R/100r = 10/100r = 0.1 rate per year,Then solve…

Q: The Wright family wants to save money to travel the world. They purchase an annuity with a yearly…

A: The annuity value at end of 14 years can be calculated as future value of annuity.

Q: If Pete has $1,000 and invests it into a mutual fund that returns 10%, what will be his Future Value…

A: Future value is expected value at a certain date in future at given rate of interest. Given: Present…

Q: per year for four years to go to college. Your father invested P16300 per year in a 10.163% account…

A: You must do proper planning for the future that must be done on time and within interest rate so…

Q: Without using Excel and using the formula, Cheryl is setting up a payout annuity and wishes to…

A: Present Value of annuity refers to the present value of all the future payments of and series of…

Q: Suppose you want to use this fund to buy a $346,000 houseboat when you retire in 40 years. How much…

A: Future value = $346,000  Interest rate = 4.75% compounded monthly Period = 40 years  Payments are…

Q: w baby. You want your child to E withdraw the equivalent of O in today's dollars per year for the 5…

A: in this problem you have to first calculate the present value of education and that will be future…

Q: Gil decided to sell their farm and to deposit the fund in a bank. After computing the interest, he…

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

Q: What is the maximum amount this couple can contribute to a Roth IRA?

A: Roth IRA is a specific retirement account in which the individual has to pay taxes on the amount…