A young student 22 years old has just graduated from college. She accepts a good job and desires to establish her own retirement fund. At the end of each year thereafter she plans to deposit P2,000 in a fund at 15% annual interest. How old will she be when the fund has an accumulated value of P1,000,000

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A: amount of corpus needed at retirement = 75,000/0.065 (interest/interest rate) amount of corpus…

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Q: A young woman 22 years old has just graduated from college. She accepts a good job and desire to…

A: Current age = 22 Years Annual deposit (P) = P2000 Interest rate (r) = 15% Future value (FV) =…

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A: Here,

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A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…

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A: given, Annuity ( A)= $15000 rate (r) =12% n = 9 (10th to 18 th year)

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A: Future value can be referred to as the value of an underlying asset or security at a future date.…

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A: Accumulated amount required (A) = P 2000000 n = 20 years = 40 semiannual payments Let S = First…

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A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

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A: Given: Daily deposit =$2500 at the end of each yearInterest rate (r)=8%N=15 yearsK=1 compounded…

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A: Solution-a1=$40,000a2=$40,000+$210     =$40,210

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A: The question can be solved in excel as follows:

Q: Molly Lincoln, a 25-year-old personal loan officer at First National Bank, understands the…

A:

Q: A 22-year-old engineering graduate wants to accumulate $2,000,000 to be available when she retires…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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A: future value of annuity formula: fva=pmt×1+rn-1r

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A: Future Value:   The future value is the amount that will be received at the end of a certain period.…

Q: A young woman, 22 years old has just graduated from college. She accepts a good job and desires to…

A: Let n = Years for which deposits are made Deposit (D) = P 2000 r = 15%

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A: The calculation is:

Q: Nest egg at 4% 2b. Nest egg at 8%

A: 1.

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A: An annuity is a stream of equivalent periodic cash flows occurring at equal time intervals. The…

Q: A self employed individual, Jimmy Carpenter, is opening a retirement account at a bank. His goal is…

A:

Q: A woman deposits $10,000 at the end of each year for 14 years in an account paying 7% interest…

A: Future Value of Ordinary Annuity refers to the concept which determines the sum total of all the…

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A: Given: Future value (FV) = 30,000 Present value (P) = 10,000 Interest rate = 12%

Q: A young engineering student has just graduated in college. He is able to obtain his first job and…

A: Annual deposit = P 5000 Annual interest rate = 12% Future value = $ 2,000,000

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