Question

You need to have 48,334 dollars to buy a new car 6 years from now. How much do you need to save at the end of each month if your savings account pays 4% per year, compounded quarterly?

Answer #1

You want to buy a new ski boat 2 years from now, and you plan to
save $7,000 per year, beginning one year from today. You will
deposit your savings in an account that pays 6.2% interest. How
much will you have just after you make the 2nd deposit, 2 years
from now?
$17,609
$14,434
$14,290
$15,156
$16,599

3c3.
You need to accumulate $75,706 for your son's education. You
have decided to place equal year-end deposits in a savings account
for the next 5 years. The savings account pays 14.25 percent per
year, compounded annually. How much will each annual payment
be?
Round the answer to two decimal places.
3b3.
You plan to buy a house in 13 years. You want to save money for
a down payment on the new house. You are able to place $323...

. You plan to buy a Ferrari sports car in 5 years. Your dream
model costs $225,000 now and you expected the price to go up 10%
per year. To get your dream car, you plan to make a monthly saving
starting one month from now for 60 monthly savings. How much do you
need to save each month in order to buy the car in 5 years,
assuming that the interest rate is 6% (find the answer that is...

You want to buy a house in 15 years that costs $300,000 now.
Inflation is 3%. How much do you need to save each year to be able
to buy the house (for cash, without a mortgage,) if you can earn 6%
(compounded annually) on your savings? (Answer to the nearest
cent.)
How do I solve this in excel?

You want to buy a car which will cost you $10,000. You do not
have sufficient funds to purchase the car. You do not expect the
price of the car to change in the foreseeable future. You can
either save money or borrow money to buy the car.
Plan 1: You decide to open a bank account and start saving
money. You will purchase the car when you have sufficient savings.
The nominal interest rate for the bank account is...

2. You want to buy a new car 3 years from now, and you
plan to save $1,000 per month, beginning today. You will deposit
your savings in an account that pays a 3.6% annual interest. How
much will you have 3 years from now?
A. $43, 201.80
B. $35,179.30
C. $38, 069.70
D. $27, 338.30
3. Dell computer has two promotions to sell its $3,000
laptop computers. One promotion is the low interest rate loan (the
nominal annual interest...

You plan to buy a house in 6 years. You want to save money for a
down payment on the new house. You are able to place $401 every
month at the end of the month into a savings account at an annual
rate of 14.64 percent, compounded monthly. How much money will be
in the amount after you made the last payment?

Lena plans to invest 5,100 dollars in 2 year(s) and 6,100
dollars in 1 year(s). She expects to earn 15.64 percent, compounded
quarterly. How much money does Lena expect to have in 11 years?
Carlton plans to save $630 every 6 months for 14 years. He plans
to make his first savings contribution in 6 months and he expects
to earn 9.22 percent per year. How much does he expect to have in
14 years?
Davi currently has $29,000 saved...

You want to buy a car which will cost you $10,000. You do not have
sufficient funds to purchase the car. You do not expect the price
of the car to change in the foreseeable future. You can either save
money or borrow money to buy the car.
Plan 1: You decide to open a bank account and start saving
money. You will purchase the car when you have sufficient savings.
The nominal interest rate for the bank account is...

4. You want to buy a new car in 3 years which will cost $42,000.
You plan to get a 5-year car loan at a 6% interest rate but don’t
want your monthly payments to be over $300. You plan to save the
rest needed by making monthly deposits into the bank, earning 7.5%
on your money. How much do you need to save monthly over the next 3
years to reach your goal?
6. You are buying a new...

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