You're trying to save to buy a new $192,000 Ferrari. You have $42,000 today that can be invested at your bank. The bank pays 5 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)
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- You're trying to save to buy a new $195,000 Ferrari. You have $32,000 today that can be invested at your bank. The bank pays 3.9 percent annual interest on its accounts. How long will it be before you have enough to buy the car? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Length of time yearsYou're trying to save to buy a new $190,000 Ferrari. You have $31,000 today that can be invested at your bank. The bank pays 3.8 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your aonswer to 2 decimal places, e.g., 32.16.) Length of time yearsYou're trying to save to buy a new $275,000 Ferrari. You have $50,000 today that can be invested at your bank. The bank pays 4.8 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of years
- You're trying to save to buy a new $141,720 Mercedes. You have $74,461 today that can be invested at your bank. The bank pays 5.74 percent annual interest on its accounts. How long will it be (in years) before you have enough to buy the car? Answer to two decimals.ed You're trying to save to buy a new $192,000 Ferrari. You have $42,000 today that can be invested at your bank. The bank pays 5 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of yearsYou would like to put some money into an account so that you will have $6000 in the account 13 years from now. If the account earns 3.5% interest per year, compounded quarterly, how much should you invest now in order to reach your goal? Give the answer correctly to 2 decimal places. dollars Do NOT use the dollar sign in the answer box. ns
- You are saving for a new car. You place $14,200 into an investment account today. How much will you have after four years if the account earns (a) 4%, (b) 6%, or (c) 8% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1)You are saving for a new car. You place $15,400 into an investment account today. How much will you have after four years if the account earns (a) 2%, (b) 4%, or (c) 6% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Investment Amount $ 15,400 15,400 15,400 Interest Rate 2% 4% 6% Compounding Annually Annually Annually Period Invested 4 years 4 years 4 years $ Future Value 15,400.00If you want to have $23,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 3 percent. Use the TVM keys on your calculator ... NOT the tables in the book Enter your answer as a negative value in the form: -$nn,nnn.nn Numeric Response 19,262.13 X
- You’re trying to save to buy a new €170,000 Ferrari. You have €40,000 today that can be invested at your bank. The bank pays 5 per cent annual interest on its accounts. Required: How long will it be before you have enough to buy the car? (Round your answer to 2 decimal places (e.g. 32.16).) The length of timeYou want to be able to withdraw $5000 from an account at the end of each year for the next 12 years. How much money should you invest now into an account earning 5.5% interest per year, compounded annually, in order to fund the desired withdrawals? Assume the account is empty after the last withdrawal is made. Give the answer to 2 decimal places, and do not use the $ sign in the answer box. The amount to invest now is Blank 1. Calculate the answer by read surrounding text. dollars.If you earn 5% per year on your bank account, how long will it take an account with $110 to double to $220? (Do not round intermediate calculations. Round your answer to 2 decimal places.)