fund and needs to decide what to do with it.

Q: A man wants to set up a 529 college savings account for his granddaughter. How much would he need to…

A: The equivalent annual cost is the periodic payment made towards the acquisition of an asset or…

Q: Mr. and Mrs. Revilla decided to sell their house and to deposit the fund in a bank. After computing…

A: The question is related to the annuity due. The details are given. The present value of annuity due…

Q: A father is now planning a savings program to put his daughter through college. She is 13, plans to…

A: The present value of the amount represents the current value of the future cash flows. The…

Q: A father is now planning a savings program to put his daughter through college. She is 13, plans to…

A:

Q: Mr. and Mrs. Revilla decided to sell their house and to deposit the fund in a bank. After computing…

A: Determine the present value of the annual withdrawals after 5 year of deposit using the Excel PV…

Q: Laura is saving for the college education of hertwochildren. They are two years apart in age; one…

A: As a first step let’s plot the cash flows on a time diagram.Please see the white board. In the table…

Q: Demitri's parents begin saving for his college fund when Demetri is 10 years old. They invest $5,000…

A: Money Deposited when Demetri is 10 = $5000 Interest rate =1.2% compounded annually Years = 18-10 = 8…

Q: Palma wants to establish a fund for her granddaughter's college education. What lump sum must she…

A: Computation:

Q: Marilyn wishes to retire at age 65 with $2,000,000 in the bank. At the age 21, she decides to begin…

A: Calculate the monthly payments as follows:MS-Excel --> Formulas --> Financials -->PMT

Q: Michelle is attending college and has a​ part-time job. Once she finishes​ college, Michelle would…

A: The value of any current asset, depending on the assumed rate of growth, at a future date is called…

Q: Alexis and Will are purchasing a home. They wish to save money for 10 years and purchase a house…

A: formula to find future value of annuity: fva=A×1+rmm×n-1rmwhere,A= annuityr = rate of interestm =…

Q: A father is now planning a savings program to put his daughter through college. She is 13, plans to…

A: Current annual cost= $18000 College savings= $7000 Interest= 9%

Q: Brittany's parents want their child to go to the same college that they did. After talking with the…

A: Working of the amount put down by the Brittany’s Parents is shown: Hence, the amount deposited will…

Q: RIVATE UNIVERSITY & Fees $25,100 & Board $8,000 Supplies $1,300 xpenses $750 tal (1 Year): 351 50

A: First we have to calculate the college expenses and earnings and than we need to calculate how much…

Q: Bayan wants to buy a house in six years. She hopes to be able to put down OMR 25000 at that time. If…

A: CD stands for certificate of deposit. In this instrument, a customer can deposit money in a bank and…

Q: Mr. and Mrs. Revilla decided to sell their house and to deposit the fund in a bank. After computing…

A: The question is related to the annuity due. The details are given. The present value of annuity due…

Q: Alvin’s Uncle Arnold gave him $16,000 from selling the old family farm. Alvin wants to start college…

A: Today’s worth of dollars at a later date is the Present Value of the dollar. For example, the value…

Q: Jessica is 25 year old now and he wants to start saving up for her retirement fund.She will retire…

A: Retirement planning is the calculation of requirement of a lum sum corpus for the time period when a…

Q: Keith Stone has a 10-year-old daughter, Kate, who will be entering college in 8 years. Keith…

A: Time value of money is a concept that helps in determining the value of cash (or money) at a future…

Q: Jennifer is planning to attend college when she graduates from high school 4years from now. She…

A: The frequency of payment is annual. However the interest rate is 12% compounded daily. Further there…

Q: Maria, a 25-year-old teacher, wants to start saving for her retirement. Maria wants a comfortable…

A: GIVEN, Age of Maria = 25  retirement age = 65 therefore number of years of savings = 65- 25 = 40…

Q: Sarah wants to save $20,000 to use for a down payment on a home. She deposits some money into a…

A: Individuals can save for expenditure by investing in financial instruments in which money grows at a…

Q: A father is now planning a savings program to put his daughter through college. She is 13, plans to…

A: Required: Compute the value of annual deposits to be made by the father so that college expenses can…

Q: A mother is thinking about funding her daughter’s medical education in 6 years when she is expected…

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

Q: Mr. and Mrs. Revilla decided to sell their house and to deposit the fund in a bank. After computing…

A: The present value or discounting value method is an important part of the time value of money. It…

Q: A couple is saving for their newborn daughter’s college education. She will need $25,000 per year…

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

Q: Skye plans to attend a 4-year public university. She will receive $4,300 in scholarships and grants…

A: Savings refers to the disposable income which is left by incurring all expenses. In order to…

Q: Revere College predicts that in 18 years it will take $200,000 to attend the college for four years.…

A: Present Value  = Future value / (1+rate)^n Where, Future Value = $200000 n = 18*12 = 216 r= 9%…

Q: Jana, now 23 years old, is a grade school teacher in Batangas City. She has been invited by her high…

A: A deposit or payment of equal amount of money at equal intervals of time is called annuity.…

Q: Gil decided to sell their farm and to deposit the fund in a bank. After computing the interest, he…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Mr. and Mrs. Revilla decided to sell their house and to deposit the fund in a bank. After computing…

A: Annuity Due: It is  an annuity where payment is due immediately at the start  of each period.

Q: For college graduation, Jose's dad gives him $15,000 toward a car. Jose thinks it through: With 10K…

A: Investment amount (P) = $15000 Amount required = $35000 r = 12% n = 8 years

Q: Your daughter needs to be able to draw $50,000 a year from her college savings fund (you started…

A:

Q: Parents wanted to save enough money to send their daughter to college. The parents were unable to…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: Your friend is celebrating her 30th birthday today and wants to start saving for her anticipated…

A: Annual deposit refers to the amount that is deposited or invested each year at given interest rate…

Q: Jackie just turned 16 and wants to buy a car—now! Problem is, she has no money. She does have a…

A: Jackie will get present value of $6,000 and pay interest of 1.5% a year for 2 years on it. so, her…

Q: Tala McLouf, a 21-year-old BBA graduate, likes to plan for her future ahead, and would like to save…

A: Since the question has more than 3 sub-parts, the first 3 subparts are answered. If you want the…

Q: Holly wants to have $200,000 to send a recently born child to college. She sets up a 529 plan and…

A: Using excel PMT function

Q: Ann was given a gift of $10,000 by her grandparents. She has a choice between 2 accounts to invest…

A: Option 1- Present value of gift (PV)= $10,000 Interest rate (r)= 2.35% compounded monthly= 0.001958…

Q: Aini wishes to have 93,000USD to purchase a car in 6 years as part of her financial goals. How much…

A: Future Value = 93,000 USD Time Period = 6 Years Interest Rate = 8%

Q: A man needs to set up a 529 colleges saving account for his granddaughter. How much will he need to…

A: using the PMT function in excel

Q: Lara wishes to buy a gift for her parent's golden wedding anniversary. She decided to deposit a…

A: Future Value of Annuity The future value of annuity refers to the total value of the investment at…

Q: week into her savings account at an interest rate of 1.5% and made a decision not to withdraw any…

A: Amount required after 3 year =350,000 Which also includes interest of 1.5% Net amount required to be…

Q: Jack and Jill are saving for a rainy day and decide to put ​$60 away in their local bank every year…

A: Future value is the value of current cashflow at the future date compounded at the specified rate.…

Q: Sara has just graduated from college. She has determined that to purchase a home in 9 years she…

A: The amount of the annual annuity payment can be calculated using the below excel formula:

Q: Lauren is the proud mother of a new baby girl and plans tosend her daughter to college 19 years from…

A: L will send her daughter to college in 19 years. Her daughter will withdraw $21,000 at the beginning…

Q: Sami just purchased a new sports car and wants to set aside cash for future maintenance expenses.…

A: No Expenses in first 5 years Annual Maintenance Cost per year in Year 6 -10 = 2000 Interest Rate =…

Q: A first-year engineering student wants to have $30,000 at graduation 4 years from now to buy a new…

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

Q: A father is now planning a savings program to put hisdaughter through college. She is 13, plans to…

A: Given information: Annual cost is $12,000 Expected to increase by 6% annually Annual savings of…

Q: Last year Jane's grandmother offered to put enough money into a savings account to generate $5000 in…

A: Interest Payment = 5000 Time Period = 1 year Rate of return = 6%