You need 40,000 pesos per year for 4 years to go to college. Your father invested 50,000 pesos at 7% for your education the day you were born. if you withdraw 40,000 pesos at the end of your 17th 18th 19th and 20th birthda, how much will be left in the account at the end of the 21st year?

Q: (i) Determine how much will his daughter be able to withdraw each year starting in year 18 and…

A: In step 1, calculate the amount that is saved till year 17 .i.e the future value of the annuity of…

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: Gabriela wants to withdraw $5,000 from her account at the end of 5 years, and $7,000 at the end of 6…

A: Since Gabriela wants to withdraw a specific amount after a certain period of time, thus, it is…

Q: A man deposits ₱2000.00 today at 8% account. He intends to deposit ₱5000.00 at the end of two years.…

A: Future Value is the value of current investments at a certain future date at the assumed…

Q: Gabriel is able to save 10,000 pesos every month from his salary. If he decides to invest in a…

A: >Future value of any amount invested is the sum total of amount invested and the interest earned…

Q: A couple plans to save for their child's college education. What principal must be deposited by the…

A: Time value of money: The value of money changes with time. It is the concept that worth of a dollar…

Q: When you retire, you plan to draw $50,000 per year from your retirement accounts, which will be…

A: Annuity is the no. of payments which are equal in size and made in equal interval of time. Person…

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: On a child's first birthday, a parent wishes to deposit enough money so that the child can withdraw…

A: Present Value of annuity = Annual payments * PVAF(rate, number of years) Present Value = Future…

Q: a) Dylan will start start college in 9 years. Dylans parents want to save a total amount of $32 000…

A: Annuity means finite no. of payments which are same in size and made in equal intervals. Person gets…

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: Juan decided to start saving for college.  He deposited $500 into an account that earns 4% simple…

A: Amount deposited = $500 Simple Interest = 4%

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: Tanya wants to be able to withdraw $7000 at the end of 7 years and $9000 at the end of 8 years. If…

A: Present value is the value of future cashflow discounted to present date at specified rate. formula:…

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: He wants to deposit his savings into a bank account. How much does Jacob have to deposit now in the…

A: Present Value The present value is the value of cash flow stream or the fixed lump sum amount at…

Q: You need Php 40,000 per year for four years to go to college. Your father invested Php 50,000 in a…

A:

Q: Taurus needs P 4,000 per year for four years to go to college. His sugar mama invested P 5,000 in 7…

A: The worth of money changes with time, therefore the TVM considers the value of money according to…

Q: school year. The annual interest rate is 5 percent. How much money must you deposit in an account…

A: Present value illustrates the current value of a sum of money that will be received or paid in the…

Q: Daniel owns a homestay that yields annual rent of RM30,000. There is a rent payment due today and…

A: The value of the amount after two years which is to be computed at given interest rates is termed as…

Q: Grandma gave you 600 for your graduation. You deposit it into an account that earns 4% annually.…

A: Given:Principal amount (P)=600Rate of interest (r) =4% annually.It is assumed that the interest is…

Q: Your cousin is currently 12 years old. She will be going to college in 6 years. Your aunt and uncle…

A: The concept of time value of money will be used and applied here.As per the concept of time value of…

Q: In order to save for your child's college education, you want to save $300 every month for 15 years,…

A: Compound = Monthly = 12Payment = p = $300Time = t = 15 * 12 = 180Monthly Interest Rate = r = 0.4%

Q: A man wants to set up a 529 college savings account for his granddaughter. How much would he need to…

A: An annuity is a contract where a fixed amount is paid periodically. It is used to help investors…

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: A couple plans to save for their child's college education. What principal must be deposited by the…

A: Here, we need to calculate the present value which needs to be deposited or kept aside by the couple…

Q: You anticipate your child will start college in 18 years. You decide to place $4,732 each year into…

A: Number of years (n) to college = 18 Annuity (P) amount of $4,732 for 18 years Interest rate ( r ) of…

Q: A father decides to invest k300 each month at 12% per year compounded monthly to pay for his 12 year…

A: Data given: pmt= k 300 r=12% (compounded monthly) n=17-12 =5 years

Q: What principal must be deposited by the parents when their child is born in order to have

A: The time value of money implies that the cash in hand at present has a higher value than the cash…

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: A couple plans to save for their child's college education. What principal must be deposited by the…

A: Present Value  Present value is the present worth of any sum of a money to be received in the future…