You wish to save P2,500,000 for your retirement by saving a certain sum every month for the next 40 years. If you can earn 9% compounded monthly, and you make your deposits at the beginning of each month, how much would you have to deposit each month to achieve your objective? a. P616.59 b. P534.04 c. P565.67 d. P530.06 e. None of the above

Q: suppose you put $1500 into your IRA this year. You do not make any additional contributions to the…

A: given, pv = $1500 r=10.5% n = 42 years

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: How much must you deposit each year into your retirement account starting now and continuing through…

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

Q: If you deposit OMR 28416 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: You have just made your first $ 200,000 yen contribution to your retirement account. Assuming you…

A: The future value of a cash flow is the future worth of a cash flow at a certain rate of interest and…

Q: Assume you deposit $5,700 at the end of each year into an account paying 11. interest. a. How much…

A: Yearly Deposit are of $5,700 Interest rate is 11% Time period is 19 years for Part(A) and 38 Years…

Q: You would like to save $250,000for retirement. If you are planning to retire 30 years from now, how…

A: The monthly deposit is the amount that is paid every month until the maturity of the period.

Q: year, to make a down payment of $75,752 on a vacation home If you can earn 3.03 percent on your…

A: The future value idea is a useful tool for investors to compare various investment prospects.…

Q: To supplement your planned retirement in exactly 42 years, you estimate that you need to accumulate…

A: The future value of an annuity is the worth of a series of recurrent payments at a future date,…

Q: You would like to have $800,000 when you retire in 40 years. How much should you invest each quarter…

A: The future value of an annuity is the amount that a series of payments, or annuity, will grow to…

Q: Your uncle is about to retire, and he wants to buy an annuity that will provide him with $55,928 of…

A: Annuity = a = $55,928Time = t = 10 YearsRate of Return = r = 8%

Q: If you deposit OMR 20930 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: When interest is compounded multiple times in a year: Future value = Present value *(1+r/m)n*m  r is…

Q: อ [What is the APR on your personal credit card(s)?] (4.7) 4-52. A financial consultant offers you a…

A: To solve this problem, we can use the concept of the annuity formula. The formula for the present…

Q: You would like to have $800,000 when you retire in 30 years. How much should you invest each quarter…

A: Amount required (FV) = $800,000 Quarterly interest rate (r) = 0.005 (i.e. 0.02 / 4) Number of…

Q: Answer the following problems. Show your solutions. Annuity 1. How much money will you accumulate by…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: You have decided you would like to deposit $5,000 into your account today and not touch it until you…

A: Future value of amount is the value of today money in future based on time and interest and is equal…

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 6% interest. How…

A: Using excel PMT function = PMT(rate,nper,pv,fv)

Q: A) How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: Requirement is to save $1,000,000 in 35 years. Investor is going to deposit same amount at the end…

Q: If you make monthly deposits of $497.00 into an ordinary annuity earning 3.09% compounded monthly,…

A: An annuity is a series of equivalent periodic cash flows for a specific duration. In the case of an…

Q: suppose you start saving today for a 40000 down payment that you plan to make on a house in 8 years.…

A: Present Value is the current value of all the cash flows which is to be received in the future which…

Q: 7. If you deposit $5,000 at the end of each of the next 20 years into an account paying 10.8 percent…

A: Future value of a present value is the value of that amount after taking into account the time value…

Q: Suppose you want to have $400,000 for retirement in 30 years. Your account earns 5% interest. How…

A: Computation as follows: Hence, each month deposit will be $480.62.

Q: Suppose you want to have $400,000 for retirement in 20 years. Your account earns 5.1% interest. How…

A: Future value required (FV) = $400,000 Interest rate = 5.1% Monthly interest rate (r) = 5.1%/12 =…

Q: Suppose you want to have 800000 for retirement in 35 years. Your account earns 5% interest.   hoe…

A: Amount that need to be deposit every month can be calculated using the formula of future value of…

Q: Today you are opening a savings account and depositing an initial $5,000 into it. You plan to…

A: Maturity Value is that amount which will be received at the end of certain period of time. It…

Q: 4. (a) If you will be making equal deposits into a retirement account for 10 years (with each…

A: An annuity refers to a financial product that provides a fixed sum of money to an individual at…

Q: Suppose that you are to make annual deposit of $3,000 into a retirement account that pays 11%…

A: Future value of the amount is the worth of the current amount in some future specified date at given…

Q: Suppose you deposit $1,500.00 into and account 7.00 years from today into an account that earns…

A: Future value is an estimated value of a current asset at an assumed growth rate over a certain…

Q: Suppose someone needs dollars 8969 in his account 5 years from now and the required rate of return…

A: Amount - 8969 Time - 5 years Rate of return - 0.1 per year compounded continuously

Q: Suppose that you'd like to retire in 40 years and you want to have a future value of $ 800000 in a…

A: Compound = monthly = 12 Time = t = 40 * 12 = 480 Future value = fv = $800,000

Q: Boris wants to save $93,000.00 for retirement. He already has $5,580.00, and he will make bi-weekly…

A: Required amount for retirement(FV)  $ 93,000.00 Current amount in account(PV)  $   5,580.00 Time…

Q: Suppose you want to have $500,000 for retirement in 20 years. Your account earns 8% interest. How…

A: Future value of each month payment (FV) = $500,000 Number of years to retirement = 20 Number of…

Q: You plan to depost $5.300 a paying 10.3 percent interest & How much money will you have in the…

A: We can determine the FV of an annuity using the formula below:In the formula above, PMT = periodic…