You plan to start your own business and are investing today to grow some seed money.  You have $15571 to invest and aim to have $29610 in 7 years.  What interest rate must you earn to meet your goal? Include 2 decimal

Q: Suppose you are 30 years old and would like to retire at age 60. Furthermore, you would like to have…

A: The amount in your saving account at the time of retirement can be calculated using the perpetuity…

Q: has found a mutual fund that will earn 10 percent semi-annually. How much will Sar ay? What if Sarah…

A: Money have time value and value of money change with time, Money today will not be same tomorrow.

Q: year investment certificates that pay interest compounded quarterly. What is the minimum nominal…

A: Information Provided: Present value = $20,000 Future value = $50,000 Term = 5 years Interest rate =…

Q: ou have $300,000.00 saved in a retirement account paying 4% interest compounded monthly and are…

A: Pension Scheme : It is the plan for pension after retirement to deposited the lump sum amount at…

Q: 10. You are saving for retirement. To live comfortably, you decide you will need to save $1 million…

A: Annual deposit is calculated using following equationAnnual deposit = Where, FV is future value of…

Q: You wish to start a business and will need a total of $50,000 to get started. You have $20,000…

A: Future Value = fv = $50,000Present Value = pv = $20,000Time = t = 5 Years Interest Rate = r = 12%

Q: 1. Calculate the APR (assume P-$100, -1 year) for each account. Round to 2 decimal places, in…

A: Using the formula below we can determine the effective annual interest rate for compounding monthly…

Q: 1. Your client Bob has sent you an email asking for help figuring out how long his money will last.…

A: The time value of money is a concept that recognizes the inherent worth of money received or…

Q: daniels estimates that he will need $22,000 to set up  small business in 8 years. a) how much ( in…

A: Future value of annuity includes the amount being deposited and amount of interest accumulated over…

Q: Suppose that your friend has a farm in 2019 and wants to make an investment 150,000 in 2030 for all…

A: Future Investment = 150,000 Time duration = 2030-2019 = 11 years

Q: If I want to invest my money, how long (in years) will it take $6774 to earn $1205 interest (simple)…

A: Interest is (I) is $1,205. The principal (P) is $6,774. The interest rate (R) is 7%.

Q: You have an investment opportunity that promises to pay you $18, 499 in four years. Suppose the…

A: Investment is the key allotment of monetary assets with the purpose of creating wages or…

Q: After you graduate, you set a plan to buy a $250,000 house in 5 years with an FHA loan that requires…

A: Present value (PV) is a financial concept that refers to the current worth of a future stream of…

Q: 14. Your grandfather left you $40,000 when he died. You can invest the money to earn 9% per year. •…

A: An annuity is a financial product that provides a series of regular payments to an individual over a…

Q: Your brother plans to start investing.  He will invest $804 today; $991 in 2 year and $1294 in 6…

A: The concept of time value of money will be applied here. Money invested today grows in future due to…

Q: 1. Greta wants to go on a vacation around the world in 4 years. If she puts $50 into an account each…

A: Here, Weekly Deposit (PMT) is $50 Time Period in Years is 4 years Time Period in weeks (n) is…

Q: Assume that you wish to save $25,000 in 5 years to remodel your kitchen. Assume that you can earn an…

A: We will use formula of present value of money to know how much amount should be invested now to have…

Q: Ronald has an investment opportunity that promises to pay him $45,000 in five years. He could earn a…

A: Present value refers to the current date value of all future cash flows discounted at the interest…

Q: You plan to deposit $900 PER YEAR into an account earning 5.25% interest compounded annually. How…

A: Since you posted multiple questions ,we will solve the  second page last question for you. if u want…

Q: Find how much money needs to be deposited now into an account to obtain $40,000 in 5 years if the…

A: Future value (FV) = $40,000 Period (n) = 5 Years Interest rate (r) = 7%

Q: How much money would you need to deposit every year for 40 years to become a millionaire if the…

A: Given, The amount required in 40 years is 1,000,000 Interest rate 12%

Q: How much you have to invest each year to reach the goal (assume end of year investments and an…

A: The retirement corpus is 750,000. To calculate the end of year payments, the PMT function in excel…

Q: Use the savings plan formula to answer the following question. Your goal is to create a college fund…

A: The time value of money is beneficial to shareholders as it emphasizes the importance of receiving…

Q: An investment you are considering is expected to make payments annually forever. The amount of the…

A: Given,  The payment is $4.75 Growth rate is 2.9% Amount of investment is $80.

Q: (Use beginning mode.) Person A invests $100/month 9% interest for 30 years. Person B invests…

A: The concept that indicates that any sum is worth more currently as compared to what it will be in…

Q: You are thinking about buying a real estate property.  If you buy the property, you think you will…

A: The most that you should be willing to pay for the property is [selling price today*1/(1+r%)^t]

Q: Say you want to invest a certain amount of your salary each year. This year you take $2,500 out of…

A: The value of current payment or upcoming flow of payments at any future date when flow of payment…

Q: Chris offers you an investmet where if ou investment where if you invest $1,000 today, he'll return…

A: The annual rate of return refers to the yield earned on an investment over the course of one year.…

Q: You deposit $100 each month into an account earning 7% interest compounded monthly. a) How much will…

A: Given:P = $100 (monthly deposit)r=0.07 (7% annual interest rate, expressed as a decimal)n=12…

Q: On a whim you purchased a scratch−off lottery ticket at the gas station. It must have been your…

A: Future value is the worth of current or present amount in some future date at given interest rate.

Q: You would like to have $42000 in five years to make some improvements on your house. What is the…

A: Compound = Monthly = 12 Future value = fv = $42,000 Time = nper = 5 * 12 = 60 Interest rate = rate =…

Q: Lily has an account that pays 3.48% simple interest per year and wants to accumulate $4,000 in…

A: Interest per year can be calculated as: = Principal * Rate * Time

Q: 1. If you want to have $500,000 when you retire and you put $85,000 in your retirement account right…

A: The NPER function can be used in the excel sheet to determine the number of years that needs to be…

Q: Steven Garcia invests $14,404.31 now for a series of $2,700 annual returns beginning one year from…

A: Formulae: PV=PMT×(1−(1+r)−n)/rWhere:PV = Present Value (the initial investment)PMT = Payment per…

Q: You want to begin saving for your daughter’s college education and you estimate that she will need…

A: Time value of money is one of useful concept being used in finance. It says that amount invested…

Q: You have just retired with savings of $2 million. If you expect to live for 54 years and to earn 10%…

A: Current Savings are $2 million The time period is 54 years The interest rate is 10% Annuity type is…

Q: How much money do you need today to ensure that you will have $18000 in 4 years, assuming you can…

A: The present value of money is the amount that a future cash flow is worth today, taking into account…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 5% interest. Feel…

A: Retirement amount = $400,000Number of years = 25Interest rate = 5%To find: a) Monthly deposit, b)…

Q: 3.7 Future Value of Investments 1. Greta wants to go on a vacation around the world in 4 years. If…

A: This is based on the concept of time value of money. Money deposited today or at regular time…

Q: You are contributing money to an investment account so that you can purchase a small piece of…

A: Annuity refers to the fixed regular periodic payments that are paid monthly, quarterly,…

Q: You would like to provide $145,000 a year forever for your heirs. How much money must you deposit…

A: The perpetuity is a stream of cash flow which will be continuing forever and it will pay a certain…

Q: You decide to invest $100 into a savings account with an interest rate of 2% annually in2015. The…

A: present value in savings account = $100 interest rate annually = 2% future value = $120 time period…

Q: Assume that your parents wanted to have $130,000 saved for college by your 18th birthday and they…

A: The FV of an investment refers to the combined value of the investment's cash flows at a future date…

Q: You plan to spend $400 to buy a new IPAD at the beginning of year3 and $1,000 to buy a new phone at…

A: The objective of this question is to calculate the amount of money that needs to be saved each year…