How much will they have in this account at the end of 1 year?

Q: Tracy wants to have $400,000 when she retires in 40 years' time. How much should she deposit at the…

A: Payment per period can be calculated using PMT function in excel.   PMT(rate, nper, pv, [fv],…

Q: Michael is updating his estate plan for himself and his family. He would like to provide an income…

A: It is assumed that, 10.5 years from now.

Q: john is planning for his wedding with fiance jane. they believe they need 30,000 for ceremony to be…

A:

Q: Meg's pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). She…

A: Given data; rate of interest = 4% payment after retirement= $20,000 number of years after retirement…

Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $7,000 each year…

A: Current amount (PV) = $ 70000 Annual deposit (P) = $ 7000 Interest rate (r) = 6% Number of annual…

Q: At what interest rate will you need to invest in the current IRA account balance in order to achieve…

A:

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: 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: 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: John and Rosamond want to retire in 8 years and can save $230 every 3 months. They plan to deposit…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: A metallurgical engineer decides to set aside money for his newborn daughter's college education. He…

A: Let’s assume the engineer deposits X for one year for 14 years:

Q: Sharie is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: Robert wants to deposit $300 into a fund at the beginning of each month. If he can earn 10%…

A: Given information : Monthly deposit = $300 Interest rate = 10% Tenure = 6 years

Q: client plans to send a child to college for four years starting 18 years from now. having set aside…

A: First we need to calculate present value of at 17 years for 4 year collage fee by using this formula…

Q: A couple will retire in 40 years; they plan to spend about $35,000 a year in retirement, which…

A: Now problem needs to solved in two steps first calculate Present value of retirement fund and next…

Q: Jane just turns 30 years old and wants to start a savings plan, where she contributes $X every month…

A: Given:

Q: Marryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3…

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

Q: Gwen decides to make regular deposits every month into an account that earns 8% annual interest,…

A: The question is based on concept of present value and future value of money .  formula as: FV=pmt…

Q: Siri plans to retire when her simple annuity savings account has enough money to receive 10000.00…

A: We need to use excel FV function to calculate future value of payment and NPER function for…

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: When Jasmine retires she has $950,000 in a retirement account that earns 6% annual interest,…

A: Using PMT function in excel

Q: As soon as Erika graduated from college and got her first fulltime job, she decided she would start…

A: Monthly deposit (m) = $400 Monthly deposit period (p) = 120 (i.e. 10 years * 12) Monthly interest…

Q: A couple plans to pay their child's college tuition for 4 years starting 18 years from now. The…

A:

Q: Andrew would like a retirement income of $3,000 per month (beginning of month payments) for 19 years…

A: Retirement income is $3000 per month Time period is 19 Years Interest rate is 3.6%

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: Michael is updating his estate plan for himself and his family. He would like to provide an income…

A: Annuity means finite no. of payments which are same in size and made in equal intervals for the…

Q: Michael is updating his estate plan for himself and his family. He would like to provide an income…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: Metehan Atay invests 550 pounds per week in the bank for an investment that will earn him 20% per…

A: An annuity is a sequence of periodic cash flows with a fixed amount at equal time intervals over a…

Q: It is Jerry's 14th birthday and his parents plan to invest some money so that they will have $17 000…

A: Amount required at 18th birthday = $17000 Quarterly interest rate (r) = 0.0215 (i.e. 0.086 / 4)…

Q: In 7 years Harry and Sally would like to have $20,000 for a down payment on a house. How much should…

A: A down payment seems to be a monetary payment made at the start of a purchase deal. It is frequently…

Q: A couple wants to retire in 35 years and can save $400 every month. They plan to deposit the money…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Sara decides to set up a retirement fund by depositing $24 at the end of each day for 13 years. How…

A: Let's begin by calculating Effective Interest rate Formual for Effective Interest Rate = (1  +…

Q: Ashley invests $250 a month in her 401(k) retirement account, which earns an 8 percent annual…

A: Monthly payment (P) = $ 250 Annual interest rate = 8% Monthly interest rate (R) = 8%/12 = 0.6667%…

Q: Hannah wants to have $1500 to help pay for a new deck in 13 years. If she wants to put her money…

A: Present Value = Future value / e^rt Where r = 8.50% t = 13 years

Q: John and Rosamond want to retire in 8 years and can save $230 every three months. They plan to…

A: In this problem we have to convert interest into quarterly interest and period into quarterly period…

Q: John and Rosamond want to retire in 6 years and can save $190 every three months. They plan to…

A: The time-value-of-money concept is used to determine the actual worth of money you have now and what…

Q: Annie would like a retirement income of $4,000 per month (beginning of month payments) for 23 years…

A: Given:

Q: Paul opens a savings account today and deposits $1,000 now. He is certain that he will be able to…

A: Since the payments are being made at the beginning of the period i.e. months thus this is a case of…

Q: To help out with her retirement savings, Kaitlin invests in an ordinary annuity that earns 4.8%…

A: Rate of Interest = 4.8% Compounded Monthly Time Period(t) = 18 years  n = 12 Future Value = $97,000…

Q: Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3…

A: Annuity means series of finite no. of payments which are same in size and made in equal intervals…

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

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Sofia and Manuel are purchasing a home. They wish to save money for 15 years and purchase a house…

A: Given: Time =15 yearsMonths =15×12=180Value of House =$200000Rate =5% compounded…

Q: After paying for their children's college education, Amy and Randy have $15,000 in annual savings.…

A: Annual saving (A) = $15000 r = 7.5% per annum n = 15 years We need to find the future value of…

Q: Starting next year, Moussa Al Khatib will need $10,000 annually for 4 years to complete his…

A: Given information: Amount needed in next year $10,000 Number of years 4 Interest rate is 5%.

Q: Mr & Mrs. John have decided to start a monthly savings program in order to provide for their son's…

A: Accumulated amount (F) = RM 50,000 Annual interest rate = 6% Monthly interest rate (r) = 6%/12 =…

Q: A couple will retire in 40 years.   They plan to spend $50,000 of their savings each year, with the…

A: Present value refers to the worth of the amount in current times that is expected to be received in…

Q: Arnold and Helene would like to visit Austria in two years to celebrate their 25th wedding…

A: Future Value = Present Value(1+Interest÷100)× (1+Interest÷100)