Lara wishes to buy a gift for her parent's golden wedding anniversary. She decided to deposit a consistent amount of money every week into her savings account at an interest rate of 1.5% and made a decision not to withdraw any amount from the account. How much money will she have after 2 years if she decided to deposit $750 each week?

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A: Sum Deposit = ? 20,000 every month for 4 years starting on 18th birthday Interest Rate = 10%…

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A: Future Value: The worth of the asset at some future date based on the assumed rate of growth is…

Q: How much money did he have for retirement?

A: Future Value of annuity = A= R* (1+rm)n-1rmwhereA - future valueR - periodic paymentr - nominal…

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

A: The amount deposited in the fund is the present value of the annuity. It is the discounted value of…

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

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

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

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A: Deoposit Per Year is 'D' from 2010 till 2018 Withdrawl Amount is 250,000 from 2021 and increased by…

Q: Arthur wishes to have 80,000 in her bank account. How much suould she deposit in a bank account that…

A: the answer with complete calculation are as follows

Q: Charlotte wishes to accumulate $100,000 in a savings account in 10 years. If she wishes to make a…

A: Present value indicates the current value of a future earning or sum incurred in the future years…

Q: Today is Hanan 23rd birthday. Starting today, Hanan plans to begin saving for her retirement. Her…

A: Annual Deposit =$1000 Amount Provided by her aunt = $10000 Years(n) = 42 Inteerst Rate(r) =10% =…

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

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Q: what will be the size of each installment?

A: Information Provided: College fund interest rate = 4% p.a. Tax free account = 3.5% compounded…

Q: How much money can they expect to withdraw?

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Q: Yumi's grandparents presented her with a gift of $21,000 when she was 8 years old to be used for her…

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A: Future value It is a value that a person will receive in the future on an investment that is done…

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A: Future worth is computed by multiplying the existing value with a given interest rate.

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

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Q: how much will be the savings account when Tony's son becomes 16 years old?

A: Future value of an annuity: It is the future worth of the annuity cash flows over a given period. It…

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A: This problem expects the present value of 45,000.  interest = 4.8% period = 16 years   We also need…

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Q: Mrs. Lorez wants all of her grandchildren to go to college and decides to help financially. How much…

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Q: When she turned 30, Arwen started depositing $400 per month in a retirement account that earns 2.4%…

A: An annuity is a series of cash flows that contain a fixed amount for a specific duration at equal…

Q: At the time of her grandson's birth, a grandmother deposits $12,000 in an account that pays 3.5%…

A: Amount deposited =$12,000 Interest rate = 3.5/12 = 0.21666667% Years = 21 Terms of compounding =…

Q: At the time of her grandson's birth, a grandmother deposits $4000 in an account that pays 4.5%…

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Q: When you were born, your dear old Aunt Minnie promised to deposit $1,000 in a savings account for…

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Q: Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6%…

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Q: Shelly deposits the $2000 she got as a birthday gift from her grandmother into an account earning…

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

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Q: Amy makes her first $15,000 payment into a conservative savings plan, earning 8% per year into her…

A: Amy Details Currently, Amy is 28 years old. Annual Payment Each year for 10 years = $15000 Interest…

Q: ne has just graduated from high school and has received an award for $5,000. She would like to…

A: The compounding increase the effective interest on the and more compounding increases future value…

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: 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: Yumi's grandparents presented her with a gift of $18,000 when she was 8 years old to be used for her…

A: Given data; Investment at the age of 8 years = $ 18000 interest rate in investment = 3.5% compounded…

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 =…