I need answer of this question general finance To complete your last year in business school and then go throughlaw school, you will need $35,000 per year for 4 years, startingnext year (that is, you will need to withdraw the first $35,000 oneyear from today). Your uncle offers to put you through school, andhe will deposit in a bank paying 7.77% interest a sum of money thatis sufficient to provide the 4 payments of $35,000 each. Hisdeposit will be made today.a. How large must the deposit be?b. How much will be in the account immediately after you makethe first withdrawal?c. How much will be in the account immediately after you makethe last withdrawal?

Here's the breakdown of the calculations step by step:a. How large must the deposit be?We use the…

Answered: To complete your last year in business…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter19: Capital Investment

Section: Chapter Questions

Problem 8E

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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
To complete your last year in business school and then go through law school, you will need $20,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $20,000 one year from today). Your uncle offers to put you through school, and he will deposit in a bank paying 6.62% interest a sum of money that is sufficient to provide the 4 payments of $20,000 each. His deposit will be made today. How large must the deposit be? Round your answer to the nearest cent.$ How much will be in the account immediately after you make the first withdrawal? Round your answer to the nearest cent.$ How much will be in the account immediately after you make the last withdrawal? Round your answer to the nearest cent. Enter "0" if required$
To complete your last year in business school and then go through law school, you will need $5,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $5,000 one year from today). Your uncle offers to put you through school, and he will deposit in a bank paying 8.5% interest a sum of money that is sufficient to provide the four payments of $5,000 each. His deposit will be made today. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter "0". How large must the deposit be? $ How much will be in the account immediately after you make the first withdrawal? After the last withdrawal? After the first withdrawal: $ After the last withdrawal: $
To complete your last year in business school and then go through law school, you will need $20,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $20,000 one year from today). Your uncle offers to put you through school, and he will deposit in a bank paying 8.5% interest a sum of money that is sufficient to provide the four payments of $20,000 each. His deposit will be made today. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter "0"
Required Lump-Sum Payment To complete your last year in business school and then go through law school, you will need $5,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $5,000 one year from today). Your uncle offers to put you through school, and he will deposit in a bank paying 7.43% interest a sum of money that is sufficient to provide the 4 payments of $5,000 each. His deposit will be made today. How large must the deposit be? Round your answer to the nearest cent. How much will be in the account immediately after you make the first withdrawal? Round your answer to the nearest cent.3. How much will be in the account immediately after you make the last withdrawal? Round your answer to the nearest cent. Enter "0" if required
Required Lump-Sum Payment To complete your last year in business school and then go through law school, you will need $30,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $30,000 one year from today). Your uncle offers to put you through school, and he will deposit in a bank paying 8.5% interest a sum of money that is sufficient to provide the 4 payments of $30,000 each. His deposit will be made today. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter "0". a. How large must the deposit be? $ b. How much will be in the account immediately after you make the first withdrawal? How much will be in the account immediately after you make the last withdrawal? LA
Required Lump-Sum Payment To complete your last year in business school and then go through law school, you will need $5,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $5,000 one year from today). Your uncle offers to put you through school, and he will deposit in a bank paying 8.5% interest a sum of money that is sufficient to provide the four payments of $5,000 each. His deposit will be made today. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter "0". a. How large must the deposit be? $ 16,377.98 b. How much will be in the account immediately after you make the first withdrawal? After the last withdrawal? After the first withdrawal: $ After the last withdrawal: $ 0
At the beginning of your freshman year, your favorite aunt and uncle deposit $10,000 intoa 4-year bank certificate of deposit (CD) that pays 5% annual interest. You will receive themoney in the account (including the accumulated interest) if you graduate with honors in4 years. How much will there be in the account after 4 years?
After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and deposit $8,000 a year for the first 6 years (t = 1 through t = 6) and $16,000 annually for the following 6 years (t = 7 through t = 12). The first deposit will be made a year from today. In addition, your grandfather just gave you a $22,500 graduation gift which you will deposit immediately (t = 0). If the account earns 9% compounded annually, how much will you have when you start your business 12 years from now? a. $295,431 b. $243,845 c. $279,372 d. $293,682 e. $284,597
After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and deposit $42000 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). The first deposit will be made a year from today. In addition, your grandfather just gave you a $32,000 graduation gift which you will deposit immediately (t = 0). If the account earns 9% compounded annually, 12 years from now you will have $_______________.
After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). The first deposit will be made a year from today. In addition, your grandfather just gave you a $32,000 graduation gift which you will deposit immediately (t = 0). If the account earns 9% compounded annually, how much will you have when you start your business 12 years from now? Group of answer choices $286,936 $298,892 $292,914 $297,486 $310,848
Pete Morton is planning to go to graduate school and a program of study that will take three years Pete wants to have $10,000 available each year for various school and living expenses if he earns 4% on his money how much mass he deposit at the start of his studies to be able to withdraw $10,000 a year for three years

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