Please answer question 9 and then 8. Thank you 7. You are able to save $30 every month (at the end of every month). How long will it take you toafford a $2,000 gaming PC if interest rate= 3%, compounded monthly?a.Assume you currently don't have any savings61.74 months66.67 months37.17 monthsiv. 36.97 monthsb. Assume you already have $1,000 in your savings accounti. 17.72 monthsi.iii.33.33 monthsii.iii.) 29.68 monthsiv. 38.17 months8. Your uncle just retired. He has $800,000 in his savings account. He believes he will live another25 years. How much money can he live on monthly (assume that he withdraws his first month'sspending today, not at the end of the month)?a. If the interest rate = 10%i. $7,209.53ii. $6,676.85iii. $597.96iv. $7,269.61b. If the interest rate = 4%?i. $4,267.46ii. $4,222.69iii. $4,391.60iv. $4,208.67c. He sadly passes away 5 years after his retirement. How much money does he have at thetime of his passing (assume 4% interest rate)?i. $546,638.32ii. $949,615.01iii. $696,836.93iv. $697,767.039. You plan to retire in 45 years and would like to be able to spend $4,000 a month (at the end ofevery month) in retirement, and you estimate that you will live for 25 years in retirement. Howmuch do you need to save per month (end of every month) between now and retirement to meetyour goal?a. Assume interest rate = 5%i. $175.52ii. $353.01iii. $337.66iv. $2,222.22b. Assume interest rate = 10%i. $41.99ii. $606.06iii. $9,828.96iv. $506.30

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You plan to retire in 45 years and would like to be able to spend $4,000 a month (at the end of every month) in retirement, and you estimate that you will live for 25 years in retirement. How much do you need to save per month (end of every month) between now and retirement to meet your goal? a. Assume interest rate= 5% i. $175.52 ii. $353.01 iii. $337.66 iv. $2,222.22 b. Assume interest rate= 10% i. $41.99 ii. $606.06 iii. $9,828.96 iv. $506.30

You plan to retire in 45 years and would like to be able to spend $4,000 a month (at the end of every month) in retirement, and you estimate that you will live for 25 years in retirement. How much do you need to save per month (end of every month) between now and retirement to meet your goal? a. Assume interest rate= 5% i. $175.52 ii. $353.01 iii. $337.66 iv. $2,222.22 b. Assume interest rate= 10% i. $41.99 ii. $606.06 iii. $9,828.96 iv. $506.30

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PA: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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