Francine currently has $70,000 in her 401k account at work, and plans to contribute $5,000 each year for the next 20 years. How much will she have in the account in 20 years, if the account averages a 6% annual return?

Q: Ms. Cristiana Piccini is valuing an investment that pays her $27,000 per year for the first ten…

A: Calculation of Value of Investment: Excel Spreadsheet:

Q: Marie, an employee at McCormick, has determined that she will need $5500 per month in retirement…

A: An annuity is a series of cash flows with an equal amount occurring at equal time intervals for a…

Q: An engineer will deposit 10% of her salary each year into a retirement fund. If her current annual…

A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…

Q: John and Rosamond want to retire in 15 years and can save $110 every three months. They plan to…

A: Individuals save for retirement using various instruments in order to have a sufficient amount…

Q: Steve Madison needs $250,000 in 10 years. How much must he invest at the end of each year, at 5%…

A: Annuity amount = Futur value of annuity amount / {[(1+r)^n-1] /r}

Q: Barry plans to invest $350 a month for the next 30 years, how much money will he have in his account…

A: Given data, monthly payment = $350 number of years = 30 years annual rate = 12%   To calculate the…

Q: Jerry intends to use the money from his loan (and his personal savings if necessary) to make an…

A: Effective rate of return is the actual interest rate received or paid by the depositor or borrower…

Q: John and Rosamond want to retire in 15 years and can save $150 every three months. They plan to…

A: A= $150 r=6.72% n=15 m=4

Q: Karren has just retired and plans to consume $9,460 from the retirement account every year for the…

A: The retirement account value is calculated as the present value of withdrawals.

Q: Beverly is considering starting her small family business in five years’ time. She has decided to…

A: Annuity is a stream of equal cash flows(deposits) over specified time. Where cash flow is due at the…

Q: Mr. Hopper expects to retire in 30 years, and he wishes to accumulate $750,000 in his retirement…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: how much must brix save in his account at the end of each month in order to have 125,000.00 at the…

A: Monthly Compounding Interest Rate = 5.88%/12 = 0.49% per month Time Period = 5 years × 12 = 60…

Q: If you desire to have $80,000 for a down payment for a house in 7 years, what amount would you need…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Ginny has already accumulated $15,000 in her RRSP. If she contributes $2,000 at the end of every six…

A: Annuity refers to series of equalized payments that are made at end or start of specific interval…

Q: Susan plans to make an investment today which promises to return to her $3,000 each year for ten…

A: Using excel PV function

Q: Janice is hoping to save $200,000 by the time she retires in 20 years. How much must Janice deposit…

A: Future value is::$200000.. Contribution annually.. Rate of Interest is:::4%.... Required Deposit…

Q: Patrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants…

A: The rate of interest required to have the desired amount can be calculated with the help of rate…

Q: Freya plans to invest $1,600 every six months for 25 years. How much will this investment be worth…

A: Given information: Investment every 6 months : $1,600 Time period : 25 years Rate of interest : 8.2%

Q: Stuart Daniels estimates that he will need $26,000 to set up a small business in 7 years. How much…

A: The present value of a cash flow is the current worth of a cash flow at a certain rate of interest…

Q: Edgar wants to have $600,000 in his retirement account in thirty years.if he begins with a single…

A: Paying someone or something, or being compensated, is an event or a procedure.

Q: Sarah wants to have $20,000 in nine years. If she puts the money in an account which pays 4%…

A: For solving we have to calculate present value of future value considering compounding monthly…

Q: An engineer planning for her retirement will deposit 15% of her salary each year into a stock fund.…

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

Q: Enrique already knows that he will have $300,000 when he retires. If he sets up a payout annuity for…

A: Given: Present value = $300,000 Interest rate = 4.55% Year = 15 Interest compounded = Quarterly

Q: Kristen plans to retire at age 56, and estimates that $50,400 a year in retirement for 25 years will…

A: Current Age = 27 Retirement Age = 56 Time Period for savings = 29 years or 348 months   Retirement…

Q: Theresa figures she needs $200,000 in ten years to pull off an early retirement to an undisclosed…

A: The future value of the annuity is the total value of all the payments which is occurred regularly…

Q: Natalie’s RRSP is currently worth $250,000. She plans to contribute for another five years, and then…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: Suzette is receiving $10,000 today, $15,000 one year from today, and $25,000 four years from today.…

A: GIVEN, PV0= $10,000 PV1= $15,000 PV4= $25,000 R= 9.6% N = 30

Q: Bianca wants to have Php 60,000 in the future. If she decides to deposit 1000 at the end of every…

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

Q: Jesse wants to have $1,400,000 in his retirement account 45 years from today. If his account earns…

A: For amortizing loans, the monthly deposits formula is: Loan Payment (P) = Amount (A) / Discount…

Q: In 6 years Dawn wants her current savings of $3700 to grow to $7300? What per annum rate, compounded…

A: Current saving (P0) = $3700 Future value after 6 years (FV) = $7300 Annual rate (r) = ? Period (p) =…

Q: John and Rosamond want to retire in 10 years and can save $130 every three months. They plan to…

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

Q: Rosina plans on saving $2000 a year and expects to earn an annual rate of 6.9 percent. How much will…

A: A study that proves that the 1value of money today is higher than the future value of money is term…

Q: Winston is saving for a trip that he'd like to take for his 25th birthday in three years. If he…

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

Q: Debbie invests $5,500 in her IRA account each year for 40 years.  If she earns 7% return annually on…

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

Q: Marie's current salary as a Systems Engineer is $100,000 per year. She's planning to place 18% of…

A: The future value of an investment is calculated by multiplying the invested amount by 1+r factor for…

Q: Every year, you receive your entire annual salary at the end of the year. This year, your…

A: Inflation rate With nominal rate and real rate, the inflation rate is calculated as show below.…

Q: Maria Anguiano's current salary is $80,000 per year, and she is planning toretire 25 years from now.…

A: Future value is the value of the present cash flows after certain period. Due to interest that can…

Q: An individual who makes $32,000 per year anticipates retiring in 30 years. If his salary is…

A: Future Value is the value of current investments at a certain future date at the assumed…

Q: Gregory's investment manager offers her an interest rate of 9.00% compounded monthly on her…

A: From the given data in the question, we have understood the future value of an ordinary annuity is…

Q: Soledad decides to save P2,700 at the end of every 6 months, which is the amount paid into her…

A: Future Value = P x [{(1 + r)^n} - 1] / r Here, P = Periodic Payment i.e. P2700 r = Periodic Interest…

Q: Don Harrison's current salary is $60,000 per year, and he is planning to retire 25 years from now.…

A: Excel Spreadsheet:

Q: Assuming that a $45,000 shop loan is financed at 12% over 4 years, what is the monthly shop payment?…

A: 2.  Loan amount = $45000      Interest -12%      Period = 4 years Amount (A) = P* [i *…

Q: Rodney would like to save $57,000 over the next 15 years. How much must he deposit at the beginning…

A: Annuity refers to the fixed periodic payments which are paid monthly, quarterly, semi-annually or…

Q: Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from…

A: Open MS Excel --> Go to formulas --> Use FV function(Future value) Calculate the future value…

Q: Izzie contributes $100 every other week from her paycheck to her retirement savings account. which…

A: