what will be the size of each installment?

Q: Alex has set up a sinking fund for his son's college education in 10 years. From now on, he can save…

A: The first part of the question is asking for the future value of an ordinary annuity. The formula…

Q: Armin's wonderful parents established a college savings plan for him when he was born. They…

A: Compound = Monthly = 12Payment = p = $57Interest Rate = r = 8.2 / 12 %Time = t = 18 * 12 = 216

Q: Mia will retire 10 years from now and wants to establish a fund today that will pay $48,000 cash at…

A: Deposited amount refers to the amount which is kept aside for investing in a fund for receiving the…

Q: Demitri's parents begin saving for his college fund when Demetri is 10 years old. They invest $5,000…

A: Money Deposited when Demetri is 10 = $5000 Interest rate =1.2% compounded annually Years = 18-10 = 8…

Q: Julian used $90,000 of his savings to purchase a single premium annuity, which pays him $600 per…

A: A single premium annuity is a type of annuity that is purchased with a lump-sum payment. The…

Q: On Chris’ 4th birthday, his great aunt gives him $120,000. His parents place the money in an…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: ex has set up a sinking fund for his son's college education in 10 years. From now on, he can save…

A: Sinking funds are amount of deposit required for the future planning requirements needed in the…

Q: Donna is 40 years old today and she wishes to accumulate $2,240,000 by her sixty fifth birthday so…

A: SOLUTION- LET THE AMOUNT TO BE DEPOSITED ANNUALLY =X RATE OF INTEREST =6% P.A CURRENT AGE =40 YEARS…

Q: sabel Lopez, from Lewiston, Idaho, is age 19, and she recently received an inheritance of $50,000…

A: Here we will use formula of future value of money to calculate amount after 10 years :   FV = PV × 1…

Q: Isabel Lopez from Lewiston, Idaho, who is 19 years old, recently received an inheritance of $55,000…

A: The Certificate of Deposit is a savings instrument that provides a fixed rate of return to the…

Q: Starting three months after her grandson Robin's birth, Mrs. Devin made deposits of $105 into a…

A: Mrs. Devin Compound = quarterly = 4 time = Dt = 18 * 4 = 72 quarters quarterly deposits = Dp = $105…

Q: An individual is considering contributing $4,000 per year to either a traditional or a Roth IRA.…

A: Roth IRA:A Roth IRA is a retirement account that allows individuals to contribute after-tax income,…

Q: Armin's wonderful parents established a college savings plan for him when he was born. They…

A: A financial concept known as "future value" describes the asset's or investment's worth at a given…

Q: Marleen, who is 37 years old, is an employee of Zcrypt, Inc. (Zcrypt). Zcrypt sponsors a SEP IRA and…

A: As par rules, An employer's contribution cannot exceed lower of the two values to the SEP IRA on…

Q: Pat receives a series of four annual federally subsidized student loans, each for S5100 at 6.9%. To…

A: Here,Four annual federally subsidized loan is $5100 (each)Rate is 6.9%Private student loan is…

Q: jesse recieved $5,000 from his grandmother when he turned 18. if he invests it at 5.5%(12), how much…

A: The question gives the following information:

Q: When Derrick turned 15, his grandparents put $10,000 into an account that yielded 1.4% interest,…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: size of each installment

A: This question is based on the concept of time value of money. It is used to calculate the value of…

Q: Since the birth of his granddaughter, 18 years ago, Kristen has deposited $300 at the beginning of…

A:

Q: eives a series of four annual federally subsidized student loans,$5600 each for at 6.6%. To defray…

A: Loans are be paid by monthly payment that carry the interest payment and principal payment of loans…

Q: Since the birth of his granddaughter, 20 years ago, Jason has deposited $200 at the beginning of…

A: 1. FVA after 7 years   = P * (([1 + I]^N - 1 )*(1+I))/I, where P is the payment amount= 200 I is…

Q: Stella has $3,000,000 in her investment fund. She wishes to withdraw $338,868 at the end of each of…

A: In the given question, the amount to be invested today is the present value of a series of…

Q: Sam's grandparents have offered to help pay for some of her university expenses. Sam will receive…

A: Annuity due refers to that annuity for which the payments or the cash flows occur at the start of…

Q: Starting six months after her grandson​ Robin's birth, Mrs. Devine made deposits of ​$230 into a…

A: Compounded semi-annually Interest earned above the interest already incurred is known as compound…

Q: If he does this, how much will he owe in taxes and penalties on this distribution if he is in the…

A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…

Q: Carl is the beneficiary of a $28,000 trust fund set up for him by his grandparents. Under the terms…

A: Annuity = Present Value / PVA of $1

Q: Jeff is 25 years old and has decided to start a retirement program. Beginning in exactly one month…

A: It is a case that requires the application of the future value of annuity concepts as well as the…

Q: Ann’s grandmother put some money in an account for her on the day she was born. She is now 18 years…

A: The amount of money in her account when she turns 70 is calculated by using the future value formula…

Q: Yumi's grandparents presented her with a gift of $21,000 when she was 8 years old to be used for her…

A: Time value of money is a financial concept which is used to calculate the value of money in present…

Q: Mike's parents decide to deposit an amount of money at the end of every month into a bank account…

A: Annuity is a series of equal receipts/payments made at a regular interval of time  over a fixed…

Q: When Steven was 5 years old (on his birthday), his grandmother decided to set up a trust account to…

A: The amount to be deposited today is the present value of amount to be received on 18th birthday.…