Question

show all work please

Suppose you have decided to start saving money to take a
long-awaited family vacation in Northern Brazil, which you want to
take 5 years from today. You estimate the amount you will have to
pay at that time will be $10,000. The savings account you
established for your trip offers 5% per annum interest compounded
quarterly. How much will you have to deposit each year if your
first deposit is made 1 year from today and the final deposit is
made 1 year **before you depart**? (Hint: Consider
effective annual rate in your calculation)

$1,723.57

$2,204.55

$2,010.56

$1,869.23

Answer #1

suppose that you have just celebrated your 18th birthday today.
You decide to start saving money to purchase your first home in 12
years, which will cost $650,000. You aim to save sufficient money
to pay the 15% initial deposit, and will take a mortgage to cover
the 85% of property cost. The nominal interest rate for the savings
account is 13% per annum compounded fortnightly. The nominal
interest rate charged by the mortgage provider is 6% per annum
compounded...

You have decided to begin saving for a vacation to Hawaii. You
believe that the full cost of the vacation, with airfare,
accommodations, and dining will be $5,000. You are going to begin
saving $150 per month, beginning one month from today. If your
account pays interest at a rate of 7.2% APR compounded monthly, how
many months will it take to save $5,000? Round your answer UP to
the nearest whole month.

You decide to start saving for a dream vacation by putting money
into a savings account that pays 2.5% APR compounded annually. You
will make the first deposit $4,500 at the end of the first year and
increase their deposit by $300 each year after that, how much money
will be in that account in 15 years? (Assume you do make your last
deposit at the end of 15 years.)

You have been saving money to buy a home and today, you decided
to buy a home and take out $350,000 mortgage loan from a bank. This
loan requires you to make a monthly payment for 30 years and the
interest rate on your loan is 4% APR compounded monthly. What is
your monthly mortgage payment for this loan? Please show your excel
formula in your answer and explain step-by-step calculation to
arrive to your answer.

PLEASE SHOW WORK FOR THE QUESTIONS BELOW
Question 1
If you invest $14,441 today at an interest rate of 5.99 percent,
compounded daily, how much money will you have in your savings
account in 3 years? Round the answer to two decimal
places.
Question 2
To what amount will the following investment accumulate?
$38,756, invested today for 19 years at 10.42 percent, compounded
monthly. Round the answer to two decimal places.
Question 3
You placed $4,067 in a savings account...

PLEASE SOLVE IN EXCEL SHOW ALL WORK! MUST USE FORMULAS!! Thank
you!!
You are saving for retirement in 40 years. You deposit $20,000
in a bank account today that pays 3.5% interest, compounded
semiannually. You leave those funds on deposit until you retire.
You also contribute $5,000 a year to a pension plan for 20 years
and then you stop making contributions to the fund. You leave your
money in the pension fund until you retire. The pension plan grows...

You have decided to place $361 in equal deposits every month at
the beginning of the month into a savings account earning 4.63
percent per year, compounded monthly for the next 5 years. The
first deposit is made today. How much money will be in the account
at the end of that time period? Round the answer to two decimal
places.

Today is your 21st birthday and you just decided to start saving
money so you can retire early. Thus, you are going to save $500 a
month starting one month from now. You plan to retire as soon as
you can accumulate $1 million. If you can earn an average of 8%on
your savings, how old will you be when you retire?

1. You want to start saving for your daughter's college
education now. She will enter college at age 18 and will pay fees
of $5,000 at the end of each of the four years. You will start your
savings by making a deposit in one year and at the end of every
year until she begins college. If annual deposits of $3,960.46 will
allow you to reach your goal, how old is your daughter now? Assume
you can earn 6%...

You have decided to place $972 in equal deposits every month at
the beginning of the month into a savings account earning 14.83
percent per year, compounded monthly for the next 12 years. The
first deposit is made today. How much money will be in the account
at the end of that time period?
Round the answer to two decimal places.

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