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
- 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'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.You 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 $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 15,400.00You 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)Suppose that a car that you want costs $9000. You make a down payment of $1000 and finance the rest for 4 years at 1.9% interest, compounded monthly. If you make monthly payments for 4 years, what is the total amount of interest that you'll end up paying? Round your answer to two decimal places if rounding is necessary. The $ sign is already written next to the answer box, so do not type a $ sign in your answer.
- If 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 XBhupatbhai← Suppose you start saving today for a $45,000 down payment that you plan to make on a house in 6 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $45,000 goal in 6 years. An account with daily compounding and an APR of 4% D You should invest $ (Do not round until the final answer. Then round to two decimal places as needed.)