You want to create a college fund for a child who is now 3 years old. The fund should grow to $60,000 in 15 years. If an investment available to you will yield 6 percent per year, how much must you invest in a lump sum now to realize the $60,000 when needed? Round to the nearest cent. DO NOT INCLUDE COMMAS OR $. Type your response
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- WITH SOLUTION PLS Suppose you make an annual contribution of P8,698 each year to a college fund for a niece. He is 6 years now, and you will start next year and make the last deposit when he is 18. The fund is a money market account earning 5.29% per year. What will it be worth immediately after the last deposit?5. Calculating Present Value. Brenda Young desires to have $20,000 eight years from now for her daughter's college fund. If she will earn 4 percent (compounded annually) on her money, what amount should she deposit now? Use the present value of a single amount calculation. nere to search W 17 4+ 10 14 IDI 10 72 *3 #3 3 24 4. 8. 00 96 %23Problem 10. A local businessman has set up a school fund that will last forever that can earn 3.1% compounded monthly. How much. money do you have to deposit today in order to be able to provide three annual 10,000 scholarships, each to be paid at thebeginning of the year?
- 4. Suppose you make an annual contribution of BD300 each year to a college education fund for a niece. She is 4 years old now, and you will start next year and make the last deposit when she is 18. The fund is a money market account earning 6.5%/year. What will it be worth immediately after the last deposit? You may also set up spreadsheet solution AGE Beginning Balance Ending Balance Deposit Interest10 of 19 (2 complete) Use the savings plan formula to answer the following question. Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 7%. How much should you deposit monthly to accumulate $80,000 in 15 years? You should invest $ each month. (Do not round until the final answer. Then round to two decimal places as needed.) Enter your answer in the answer box e Type here to search Cop 立4. Suppose you make an annual contribution of BD100 each year to a college education fund for a niece. She is 4 years old now, and you will start next year and make the last deposit when she is 18. The fund is a money market account earning 6.5%/year. What will it be worth immediately after the last deposit? You may also set up spreadsheet solution
- Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 10% annual interest rate, compounded quarterly, in order to have $30,000 in the fund at the end of 10 years? Question content area bottom Part 1 They should deposit $enter your response here. (Round up to the nearest cent.)Jane wants to create a fund today that will provide her a 4% guaranteed compounded annual rate. She wants to withdraw $15,000 one year from now and $27,000 two years from now, after which the fund will be depleted. How much must she invest today to achieve this goal? Group of answer choices $42,400.00 $40,775.89 $41,912.43 $39,386.10A. Choose the letter of the correct answer and write it on the space provided. 1. To save for her high school graduation, Mary decided to save P200 at the end of each month. If the bank pays 0250% compounded monthly, how much will be her money by the end of 6 years? A. P12,507.02 B. P13,507.02 2. How much should be invested in a fund each year paying 2% compounded annually to accumulate P100,000.00 for 5 years? A. P19,215.84 B. P20,215.84 3. What is the present value of a semi-annual payments of P8,000 at the end each term for 12 years with interest rate of 12% compounded quarterly? A. P96,573.25 4. A teacher saves P5,000 every 6 months in a bank that pays 0.25% compounded monthly. How much will be her savings after 10 years? A. P101,197.06 B. P102,197.06 5. What is the present value of P5,000 payable semi-annually for 10 years if money is worth 9% compounded annually? A. P64,589.25 C. P14,507.02 D. P15,507.02 C. P21,215.84 D. P22,215.84 B. P97,573.25 C. P98,573.25 D. P99,573.25 C.…
- QUESTION 2 If you planning to invest some funds in the following manner; K20,000 at the end year 1,K30,000 at the end of year 2 and K10,000 at the end of year 3.How much would this account have at the end of year 4 assuming the funds earn interest of 12% compounded per annum You have inherited two endowment funds from your grandfather. One fund will pay K30, 000.00 annually indefinitely, while the other fund will pay K12, 000 annually for 20years.The insurance company has offered to buy this fund from you. Calculate the combined market value on such fund if interest were 18% in the market. An investment company offers an account which requires a one off investment of K18, 000.00 and grows to K237, 870.00 in 12 years time. Find the interest rate that the investment is offeringSuppose you want to begin a college fund for your newborn child. You hope to accumulate $45,000 by 20 years from now. If a current investment opportunity yields 6%, how much must you invest in a LUMP SUM today to have the $45,000 when needed in 20 years? $14,900 $13,200 $136,200 $14,000 $144,300Independent Activity 2Starting on her 30th birthday, a woman will invest an amount every yearshould be the amount invested should she want her fund toon her birthday in an account that grows at an annual rate of 7%. WhatP 300,000.00 just before her 65th birthday?