Victor and Maria Hernandez Look at Future Income Throughout this book, we will present a continuing narrative about Victor and Maria Hernandez. Following is a brief description of the lives of this couple. Victor and Maria, both in their late 30s, have two children: Jacob, age 13, and Nicholas, age 15. Victor has had a long sales career with a retail appliance store in Fargo, North Dakota earning $55,000 annually. Maria works as a medical records assistant earning $31,000. Victor and Maria regularly buy and sell a number of items on eBay, Craig's List, and through the free community newspaper, from which they earn about $5,000 each year. What is the accumulated future value of those annual amounts over 22 years if the annual earnings were invested regularly and provided a 5 percent return each year? (Hint: Use Appendix A-3.) Round your answer to nearest dollar. Round Future Value of Series of Equal Amounts in intermediate calculations to four decimal places $ What would Victor and Maria's annual income be after 22 years if they both received an average 3 percent raise over their current $86,000 salary ($55,000 + $31,000) every year? (Hint: Use Appendix A-1.) Round your answer to nearest dollar. Round Future Value of a Single Amount in intermediate calculations to four decimal places.
Victor and Maria Hernandez Look at Future Income
Throughout this book, we will present a continuing narrative about Victor and Maria Hernandez. Following is a brief description of the lives of this couple.
Victor and Maria, both in their late 30s, have two children: Jacob, age 13, and Nicholas, age 15. Victor has had a long sales career with a retail appliance store in Fargo, North Dakota earning $55,000 annually. Maria works as a medical records assistant earning $31,000.
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Victor and Maria regularly buy and sell a number of items on eBay, Craig's List, and through the free community newspaper, from which they earn about $5,000 each year. What is the accumulated
future value of those annual amounts over 22 years if the annual earnings were invested regularly and provided a 5 percent return each year? (Hint: Use Appendix A-3.) Round your answer to nearest dollar. Round Future Value of Series of Equal Amounts in intermediate calculations to four decimal places$
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What would Victor and Maria's annual income be after 22 years if they both received an average 3 percent raise over their current $86,000 salary ($55,000 + $31,000) every year? (Hint: Use Appendix A-1.) Round your answer to nearest dollar. Round Future Value of a Single Amount in intermediate calculations to four decimal places.
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