Calculating present and future values Use future or present value techniques to solve the following problems. Starting with $20,000, how much will you have in 12 years if you can earn 12 percent on your money? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor. $ Calculate your answer based on the financial calculator. $ If you can earn only 6 percent? Round the answer to the nearest cent. Round FV-factor to three decimal places.
Calculating present and
Use future or present value techniques to solve the following problems.
- Starting with $20,000, how much will you have in 12 years if you can earn 12 percent on your money? Round the answer to the nearest cent. Round FV-factor to three decimal places.
Calculate your answer based on the FV-factor.
$Calculate your answer based on the financial calculator.
$If you can earn only 6 percent? Round the answer to the nearest cent. Round FV-factor to three decimal places.
Calculate your answer based on the FV-factor.
$Calculate your answer based on the financial calculator.
$ - If you inherited $40,000 today and invested all of it in a security that paid a 9 percent
rate of return , how much would you have in 25 years? Round the answer to the nearest cent. Round FV-factor to three decimal places.Calculate your answer based on the FV-factor.
$Calculate your answer based on the financial calculator.
$ - If the average new home costs $315,000 today, how much will it cost in 9 years if the price increases by 3 percent each year? Round the answer to the nearest cent. Round FV-factor to three decimal places.
Calculate your answer based on the FV-factor.
$Calculate your answer based on the financial calculator.
$ -
You think that in 10 years, it will cost $216,000 to provide your child a 4-year college education. Will you have enough if you take $76,000 today and invest it for the next 10 years at 7 percent? Round the answer to the nearest cent. Round FV-factor and FVA-factors to three decimal places. _____, you will have approximately $ ______
than your estimate of $216,000.
If you start from scratch, how much will you have to save each year to have $216,000 in 10 years if you can earn a 7 percent rate of return on your investments?
Calculate your answer based on the FVA-factor.
$Calculate your answer based on the financial calculator.
$ -
- If you can earn 9 percent, how much will you have to save each year if you want to retire in 35 years with $1 million? Round the answer to the nearest cent. Round FVA-factor to three decimal places.
Calculate your answer based on the FVA-factor.
$Calculate your answer based on the financial calculator.
$ -
- You plan to have $1,100,000 in savings and investments when you retire at age 60. Assuming that you earn an average of 7 percent on this portfolio, what is the maximum annual withdrawal you can make over a 20-year period of retirement? Round the answer to the nearest cent. Round PVA-factor to three decimal places.
Calculate your answer based on the PVA-factor.
$Calculate your answer based on the financial calculator.
$ -
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