Jharold need P4,000 per year for four years to go to college. His father invested P5,000 in 7% account for his education when he was born. If he withdraw P4,000 at the end of year 17th, 18th, 19th and 20th birthday, how much money will be left in the account at the end of the 21st year

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A: amount of corpus needed at retirement = 75,000/0.065 (interest/interest rate) amount of corpus…

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

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A: To open the "FV function" window - MS-Excel --> Formulas --> Financials --> FV.

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A: Future value required (FV) = $150,000 Interest rate (r) = 6% Number of annual payments (n) = 18…

Q: how much will John have in his retirement account at age 60?

A: Present age is 25 Rate of return = 8% Retirement age = 60

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

Q: Alice needs P 4,000 per year for four years to go to college. Her father invested P 5,000 in 7%…

A: Future value of an amount is calculated as: = Amount * (1+rate)^number of periods

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A: Investment Now(Yo)  = $ 3000 For 10years Investment in Y1 = $ 1500 for 9 years Investment in Y2 = $…

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…

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A: Data given:: Tuition costs today = $29000 Annual growth rate in tuition = 5.7% Interest rate on…

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A: Investment is done in various instruments to earn a return in order to have a higher amount in the…

Q: The Madrigal family is experiencing some financial pressures, even though the couple has a mbined…

A: Combined Income = P 1,236,000 Alma's Monthly Salary = P 29,000

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: Juan received an inheritance from his grandfather. Worried of spending the money unproperly, he…

A: Total amount = $3,000,000 Time = 2 years No of weeks = 52 *2                      = 104 Rate = 2%…

Q: Ji Hyun's generous grandfather invests $1,000 when she is born into an index fund that produces a 7%…

A: Calculation of money will be in account.

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A: The correct answer for the above mentioned is given in the following steps for your reference.

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

A: Deposit: It is a saving which one earns during his or her earning period and saves the same amount…

Q: jesse recieved $5,000 from his grandmother when he turned 18. if he invests it at 5.5%(12), how much…

A: The question gives the following information:

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

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A: Annual university expenses (E) = GH₵ 30000 Expense period (p) = 4 years Interest rate (r) = 0.14…

Q: When Derrick turned 15, his grandparents put $10,000 into an account that yielded 1.4% interest,…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: Taurus needs P 4,000 per year for four years to go to college. His sugar mama invested P 5,000 in 7…

A: The worth of money changes with time, therefore the TVM considers the value of money according to…

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A: Present Value: It is the present worth of the annuity payments or savings made in the future.…

Q: When Xian was born, his father Brian deposited a sum of money for the college education of Xian.…

A: Present Value = Future Value x 11+in

Q: is thinking of establishing a fund for his daughter’s college education. He wants his daughter to be…

A: There is need of planning for savings for the education of the children so that they can study…

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A: GIVEN, YEARLY PAYMENT = $1500 N = 15 YEARS R = 12% LET FOUR YEARLY WITHDRAWAL = A  withdrawal from…

Q: per year for four years to go to college. Your father invested P16300 per year in a 10.163% account…

A: You must do proper planning for the future that must be done on time and within interest rate so…

Q: My son Liam is now 2 years old. I want to plan for his college education once he reached 17 yo until…

A: value of the amount when the child turns 17 = 10,000 * (1 + 14%/2)15*2 = 76,122.55

Q: 4. Rodel decided to sell their farm and to deposit the fund in a bank. After computing the interest,…

A: The regular or lump-sum amount that is received or paid after a specific time period rather than…

Q: Tara invests $3000 today and another $1,500 a year from now until 5 years. She stops investing from…

A: Calculation of Future worth of Investment 5 years from now Future value = ($ 3,000 X Future value…

Q: A professor has two daughters that he hopes will one day go to college. Currently, in-state students…

A: Since, first payment of fees starts at 16th year and we are given fees at current money value, so…

Q: Mrs. Christell Lee deposited Php50,000 now in an account for the college education of her 3-yeard…

A: Future value from present value concept is used to determine the value of deposits before starting…

Q: A man wants to help provide a college education for his young daughter. He can afford to invest…

A: The annual investment is the amount to be paid at the end of the period. It is paid on annual basis.…

Q: Isabel Lopez, from Lewiston, Idaho, is age 19, and she recently received an inheritance of $50,000…

A: The future value function can be used for determining the future value of a present sum, or the…

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A: Given  Tuition cost = $20000

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A: Given information : Current age of kid 2 Initial investment made 50000 Interest rate 10.50%…

Q: Belinda invested a sum of money for her two-year-old child education in the amount of fifty thousand…

A: Compounding is a strategy for calculating the future value (FV) of current cashflows using a…

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A: Determine the value of fund at the end of 10 years assuming that the college fees is to be paid at…

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A: Savings refers to money put aside for some specific work or for emergency needs. Saving is used to…

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: Two people plan to invest $50,000. Matt is going to invest it in one lump sum and leave it in the…

A: Future value of investment is the compounded value of all the cash flows in the tenure of the…

Q: A man invests P10,000 now for the college education of his 2-year old son. If the fund earns 14%…

A: We can define effective interest rate as that rate which has been adjusted for the effect of…

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

A: Present Value  The present value is the value of cash flow stream or the fixed lump sum amount at…