Currently (in August, 2021), Abby wants to have $20,000 available in August 2025 to make a college tuition payment.To be able to have this amount available, Abby will make equal annual deposits in an investment account earning 12% annually in August 2021,2022,2023,2024, and 2025. What is the annual amount to be deposited? a.$5,548 b.$4,000 c.$3,148 d.$2,270

Q: Your daughter will start college one year from today, at which time the first tuition payment of…

A: Using excel PV function

Q: Abby Mia wants to know how much must be deposited in her local bank today so that she will receive…

A: The formula to compute present value is as follows:

Q: Can you please help me work out this problem in detail?   Tony Ring wants to attend Northeast…

A: We need to use the concept of time value of money to solve the question. According to the concept of…

Q: John Rider wants to accumulate $100,000 to be used for his daughter’s college education. He would…

A: 1.Calculate the amount John invested on December 31, 2016:

Q: Aira is planning to deposit RM10,000 today in Investment account that pays interest of 8% per annum.…

A: Amount of money in the account at the end of year 10 is the future value of the amount at the end of…

Q: Grandparents plan to open an account on their grandchild's birthday and contribute each month until…

A: a) Answer: Annuity due. Annuities are regular periodic payments made over a specified period. When…

Q: For numbers 4 to 5: Maria wants to have ₱750,000.00 at the end of 4 years for her graduation…

A: The future value of the annuity is the future worth of a cash flow series at a certain rate of…

Q: Assume today is 1 September, and this is the birthday of your two children, Ashley and Alex. Ashley…

A: Time value tells that money received today is of more value than that of receiving the exact value…

Q: A father wants to set aside money for his 5-year old son's future college education. Money can be…

A: Present Value annuity- The present value of an annuity is the present worth of future outflow from…

Q: Chasity and Garrett plan to send their son to university. To pay for this they will contribute 9…

A: Answer: Calculation of the size of the annual contribution required: Step 1: Calculation of the…

Q: Millet wants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Given, Amount required is P200,000 Rate 10% compounded quarterly.

Q: A financial planning service offers a college savings program. The plan calls for you to make six…

A: Annual Payments = $14,000 Time = 6 years Annual Receipts after 6 years = $25,000 Time = 4 years

Q: John Rider wants to accumulate $40,000 to be used for his daughter’s college education. He would…

A: Present Value Factor(PVF)=11+rateterm Future Value Annuity(FVA)=(1+rate)term-1rate Future Value…

Q: (Refer to this word problem. , Samuel wishes to have P500,000 available for his son's college…

A: Accumulated value (F) = P 500000 t = 14 years = 28 semiannual periods r = 4.4% per annum = 2.2%…

Q: To benefit the ISU College of Business, Bill Vickers would like to establish a “perpetual”…

A: Future Value (FV)= $210,000 per year Time period (n)= 13 years  Annual return (i)= 4.1 percent…

Q: Ms. R. would like to buy a mobile home. For this purpose, she takes out a loan on 01.01.2021 Amount…

A: "Hi there, thanks for posting the questions. But as per our Q&A guidelines, we must answer the…

Q: A student plans to deposit P1,500 in a bank now and another P3,000 for the next two years. If he…

A: Amount left can be calculated using the formula of the future value.

Q: Aika wishes to set aside a total of P60,000 as savings for the year 2022. She plans to deposit her…

A: A. On Deposit of P30,000 made on June 1, 2022, interest will accrue for 7 months and On Deposit of…

Q: 1. Q Susan is a university student who was gifted a $3000 check upon graduating high school in June…

A: PV= $3000 r= 6% annual interest compounding quarterly= 0.06/4= 0.015 t= 7 months from End of June…

Q: Suppose you want to save money for your child's college expenses. You deposit $1,000 at the…

A: Future value of an annuity due is defined as the formula, which used to get calculated the end value…

Q: Gina has planned to start her college education four years from now. To pay for her college…

A: An Annuity is a continuous flow of systematic timely cash flows made or received for a stipulated…

Q: John Rider wants to accumulate $100,000 to be used for his daughter’s college education. He would…

A:

Q: A father decides to invest k300 each month at 12% per year compounded monthly to pay for his 12 year…

A: Data given: pmt= k 300 r=12% (compounded monthly) n=17-12 =5 years

Q: Samuel David wants to make 5 equal annual withdrawals of $8,000 from a fund that will earn interest…

A:

Q: Ms. Pan Aram has set the goal of accumulating Php 4,000,000 for her son's college fund, which will…

A: Here, Future value of deposited amount = Php 4,000,000 Number of years = 18 years Interest rate = 8%…

Q: To pay for your child's education, you wish to have accumulated P15,000 at the end of 15 years. To…

A: Future value (F) = P15,000 Time period (n) = 15 years Rate of interest = 6% (compounded annually)

Q: he college tuition is expected to increase with an average of 5% per year for the next 5 years. The…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: A family wants to have a $160,000 college fund for their children at the end of 15 years. What…

A: Using excel PMT function

Q: Flora is planning ahead for a 3-month world tour to celebrate completing graduate school. The trip’s…

A: given, FV = $7000 N =4 R=5% M=12

Q: Anne wants to accumulate $25,000 by December 31, 2019. To accumulate that sum, she will make twelve…

A: Future value of annuity formula: FVA=A×1+rmn×m-1rmwhere,r = rate of interestm = fequency of…

Q: on. How much should be deposited?

A: Present Value of Annuity: It represents the present worth of the future value of the annuity and is…

Q: After graduation, you plan to work for Asia Corporation for 12 years and then start your own…

A:

Q: Joey has 750,000 in bank account as of December 31,2018. If he deposited P40,000 in the account at…

A: Interest is the amount paid to the bank against loan taken. It is determined by multiplying the…

Q: A mother wishes to have Php800,000 eight years from today for her son’s graduation. How much should…

A: Future value (FV) = Php800,000 Monthly interest rate (r) = 0.0116666666666667 (i.e. 0.14 / 12)…

Q: how large must each payment be for you to end up with $1,000 on January 1, 2022?

A: Time value of money (TVM) means that the amount of money received in the present period will have…

Q: Brooke and Collin plan to send their son to university. To pay for this they will contribute 10…

A: The PMTs done at the end of each period are ordinary annuity.

Q: Millet wants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Present value = Future value/(1 + r)n Present value = Amount needed to be deposited Future value =…

Q: Your mother plans to join the employee's cooperative. She wants to know how much her money would…

A: The interest on the money invested is earned for period it is invested in the scheme. The interest…

Q: 1. Q. Susan is a university student who was gifted a $3000 check upon graduating high school in June…

A: Given, The fund Amount is $3000 and the interest rate is 6% a. Caluclating Future Value  waited 2…

Q: What lump sum do parents need to deposit in an account earning 10%, compounded monthly, so that it…

A: The present value of a future amount can be calculated by using this equation Present value =Future…

Q: A family wants to have a $220,000 college fund for their children at the end of 16 years. What…

A: The series of regular payment at the end of each specified intervals is known as ordinary annuity.…

Q: Your brother will begin his education this year. The university tuition is TL37420 per year and paid…

A: The present value of annuity due is the present value of a series of cash payments that are expected…

Q: Suppose it costs $18,000 per year (in early 2014 dollars) for tuition, room, board, and living…

A: given data  cost = $18000  a) inflation average per year = 8% total cost of a four year education…

Q: Assuming that you graduated on December 31st 2020 from the University of Buraimi and immediately on…

A: given, amount you save in Muscat bank (p) = $300 every month years (t) = 20 rate (r) = 10%

Q: A person decides to pay at the beginning of each semester for 6 years the sum of $3315. Calculate…

A: The interest rate is the rate at which the specific amount is accumulated at the end of the period…

Q: To pay his university education, Mr. Ahmed is saving $ 1000, at the beginning of each year for the…

A: The formula to compute future value of annuity due:

Q: Aika wishes to set aside a total of P60,000 as savings for the year 2022. She p at a bank that…

A: The future value of deposit is interest accumulated over the period of time and deposit made at the…