You need to accumulate $10,000. To do so, you plan to make deposits of $1,450 per year - with the first payment being made a year from today - into a bank account that pays 7% annual interest. Your last deposit will be less than $1,450 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Do not round intermediate calculations. Round your answer up to the nearest whole number. ________year(s) How large will the last deposit be? Do not round intermediate calculations. Round your answer to the nearest cent. $________

Q: You are scheduled to receive $19,000 in two years. When you receive it, you will invest it for six…

A: Present value means today's value of the future value of money. It means that the present time…

Q: You believe you will spend $44, 000 a year for 16 years once you retire in 32 years. If the interest…

A: TVM refers to the concept that considers the effect of money's interest-earning capacity, which…

Q: You have $27, 467.55 in a brokerage account, and you plan to deposit an additional $5, 000 at the…

A: The amount in the brokerage account (PV) at present is $27,467.55.The annual deposit (PMT) is…

Q: You have 45,589.25 in a brokerage and you to deposit an additional 5,000 at the end of every future…

A: Time value of money concept will be applied here. Money deposited in an account grows as the amount…

Q: You would like to have ​$   59,000 in   15 years.  To accumulate this​ amount, you plan to…

A: The concept of time value of money tells us that worth of money keeps on changing with passage of…

Q: If you invest $15,000 today, how much will you have in each of the following instances? Use Appendix…

A: Given in the question:Today Invested amount = $15,000The amount of the money which a person will…

Q: You need $24,056 at the end of 6 years, and your only investment outlet is an 8 percent long-term…

A: An estimate of the present value of hypothetical future cash flows for a given time period at an…

Q: You have $67,046.95 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

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

Q: You expect to receive $30,000 at graduation in two years. You plan on investing it at 7 percent…

A: Time until Investment = 2 YearsInvestment Amount = pv = $30,000Interest rate = r = 7%Future Value =…

Q: You plan to make a series of deposits in an interest-bearing account. You will deposit $1,000 today,…

A: The future value of all the cash flows can be obtained by doing the sum of individual future value…

Q: Suppose you start saving today for a $50,000 down payment that you plan to make on a house in 5…

A: Down payment = $50,000Interest rate = 6% (Daily compounding)Number of years = 5 years

Q: You estimate that by the time you retire in 35 years, you will have accumulated savings of $3.5…

A: b.) For real expenditure , firstly we will calculate real rate of interest using formula :   Real…

Q: (Comprehensive problem) You would like to have $59,000 in 15 years. To accumulate this amount, you…

A: Annuity is the series of equal cash payments over the period.

Q: (Comprehensive problem) You would like to have $57,000 in 13 years. To accumulate this amount, you…

A: Here,ParticularsValuesFuture value (FV) $  57,000.00Number of years (NPER)13.00Interest rate…

Q: (Comprehensive problem) You would like to have $52,000 in 12 years. To accumulate this amount, you…

A: Future value = $52,000Period = 12 yearsInterest rate = 10% compounded annually

Q: An investor is considering an investment that will pay $2,280 at the end of each year for the next…

A: Payment = p = $2280Time = t = 10Rate of Return = r = 12%

Q: Six years from today you need $10,000. You plan to deposit $1,500 annually, with the first payment…

A: Solution:

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,050 per year - with the…

A: The objective of this question is to find out how many years it will take to accumulate $10,000 by…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year - with the…

A: The FV of an investment refers to the combined value of the cash flows of the investment after they…

Q: You have $20,800.51 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

A: The number of years required to accomplish the goal can be find out by using the future value of…

Q: You have $51, 854.38 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

A: The time value of money is a concept in finance that takes into account the effects of compounding…

Q: Let’s say that you are saving up for retirement and decide to deposit $3,000 each year for the next…

A: The objective of this question is to calculate the difference in the final amount of savings when…

Q: Use the savings plan formula to answer the following question.   You put ​$300 per month in an…

A: Monthly investment = $300Interest rate = 2.5%Period = 17 years

Q: You plan to deposit $1,500 per year for 4 years into a money market account with an annual return of…

A: Future value of annuity=C×1+in-1iC=Cash flow per periodi=Interest raten=Number of payments

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year with the…

A: Future value is an estimate of future cash values ​​that may be received at a future date,…

Q: You would like to have $78,000 in 12 years. To accumulate this amount, you plan to deposit an equal…

A:

Q: You want to buy a house within 3 years, and you are currently saving for the down payment. You plan…

A: Period = 3 yearsGrowing annuity = $9000Growth rate = 20%Interest rate = 11%

Q: Suppose you start saving today for a $30,000 down payment that you plan to make on a house in 7…

A: Down payment = $30,000Number of years = 7APR = 8%To find: Amount of deposit made in the account…

Q: You need $25,356 at the end of 9 years, and your only investment outlet is an 9 percent long-term…

A: Present value is an estimate of current value of future cash flows for a specific period of time at…

Q: At the moment you don't have any money saved for retirement, but have resolved to start making $425…

A: Given, The amount of monthly payments is $425 Effective annual rate is 9.9% Amount to be accumulated…

Q: You will deposit $354 each year into an investment account that earns 5% interest (as an effective…

A: The question is based on the concept future value of annuity payment for 10 years at end of period,…

Q: How much will accumulate in three years by depositing $560 at t Note: Use tables, Excel, or a…

A: Future value estimates are critical for making sound financial decisions, such as retirement…

Q: deposits

A: Introduction: The term annuity refers to series of payments which are made at intervals. Examples of…

Q: Suppose you want to save $220,000 for retirement. You will do so by putting monthly deposits into an…

A: Retirement planning involves the set of activities that determines the income goals that an…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,300 per year - with the…

A: Amount required = $10,000 Yearly Payment = $1,300 rate of interest = 13% no of years = ?

Q: Your first deposit of $5,000 will be made today. You also plan to make four additional deposits at…

A: Present value is the current worth of the amount that is deposited in some future date at given…