Stella has $3,000,000 in her investment fund. She wishes to withdraw $338,868 at the end of each of the next 13 years. What interest rate must she earn in order to accomplish her goal.

Q: On her 31st birthday, Jean invests $1,000 into her employer’s retirement plan, and she continues to…

A: Given information: Annual payment of $1,000 Interest rate is 6% Number of periods is 10,

Q: On a girl's 10th birthday, her father started to deposit P5,000 quarterly at the end of each term in…

A: Convert 1% compounded monthly to its equivalent interest rate for quarterly interval. Here, 'R'…

Q: Ethan wants to set up a fund for his son's education such that he could withdraw $2,982.00 at the…

A: Quarterly withdrawals (P) = $2,982.00 Period = 6 Years Quarterly period (n) = 6*4 = 24 Interest rate…

Q: wishes to provide herself, or her estate, with an income of $10,000 at the end of each year for 10…

A: Deposit A Amount = 10,000 End of year deposits N = 10 years   Deposit B Amount = 10,000 End of year…

Q: At two years of age, Deja was given $700,000. The amount is put into a trust earning 5% monthly. If…

A: It is being given that when the withdrawals of certain amounts being made over the period of time…

Q: At two years of age, Deja was given $700,000. The amount is put into a trust earning 5% monthly. If…

A: In finance, a trust is considered as an arrangement between a third party, a trustee, and the…

Q: The will of Don José Luis, who has just died, specifies that the beneficiary of his 15,000,000.00…

A: Insurance Amount = 15,000,000 Interest Rate = 24%/12 = 2% per month Periodic Amount = 250,000…

Q: Lucas is starting a college fund for his newborn daughter. He decides to invest $200 a month in an…

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

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: A woman expects to have $10,000 in 4 years to buy a pair of earrings. She plans to create a sinking…

A: A sinking fund is one that loses money for a specific reason. The concept of the time value of money…

Q: Tatsumi invested Php 10,000 now for the college education of his three-year old son. If the fund…

A: Amount invested today (A) = Php 10000 Age of son today = 3 years He needs to withdraw for 4 years (m…

Q: What is the amount of the payments that Tom Brokaw must make at the end of each of 8 years to…

A: Amount required = $70,000 Interest Rate(r) = 8% Years(n) = 8 Let Annual Payments = P

Q: Van

A:

Q: Una Day is planning to retire in 20 years, at which time she hopes to have accumulated enough money…

A: Retirement fund:  A retirement fund is a particular fund into which people contribute money in order…

Q: . Your grandmother has established a trust fund that pays you $3,500 each year for 15 years. upon…

A: Given: CF=$3500t=15 yearsr=7% i.e 0.07

Q: Allison and Leslie, who are twins, just received $20,000 each for their 24th birthday. They both…

A: Parts 1-2:Calculation of Age at which they become millionaires and Annual Contribution:Excel…

Q: Erika and Kitty, who are twins, have just received $30,000 each for their 25th Each sister plans to…

A: Given information: Future value is $1,000,000 Present value is $30,000 Interest rates of Erika and…

Q: Jane decides to make 5 end-of-year deposits of $10,000 into a fund starting one year from now. 6)…

A: Calculate the amount at the end of 5 years as below: Resultant Table: Hence, amount at the end of…

Q: Michelle is 25 years old and has decided to start a retirement program. Beginning in exactly one…

A: Time period is 30 years Annual savings are $15,000  Interest rate is 4% To Find: Amount saved for…

Q: Donna is 40 years old today and she wishes to accumulate $2,240,000 by her sixty fifth birthday so…

A: SOLUTION- LET THE AMOUNT TO BE DEPOSITED ANNUALLY =X RATE OF INTEREST =6% P.A CURRENT AGE =40 YEARS…

Q: Cody invested the profit of her business in an investment fund that was earning 2.25% compounded…

A: Given, The amount of withdrawal is $5000. Interest rate is 2.25% compounded monthly.

Q: At the age of 35 John began contributing 10,500 Php every month to a retirement fund. If his money…

A: Using excel nper function

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.

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: Denise has $180,983 saved for her upcoming retirement and will make no further contributions. She…

A: Interest rate = 5% compounded semiannually Annuity amount (A) = $5000 per quarter for 20 years (80…

Q: Allison and Leslie, who are twins, just received $15,000 each for their 21th birthday. They both…

A: According to the time value principle, the future worth of a dollar sum available today is different…

Q: Allison and Leslie, who are twins, just received $20,000 each for their 27th birthdays. They both…

A: a) The computation as follows: The age at which Allison becomes millionaire is 63.38 years. Working…

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

A: The question can be solved in excel as follows:

Q: The Alavis have decided to invest in a their Son. college fund for They invested $50,000 deferred…

A:

Q: Allison and Leslie, who are twins, just received $30,000 each for their 21th birthday. They both…

A: Here, Amount Received by Allison on 21st Birthday is $30,000. Amount Received by Leslie on 21st…

Q: Mary plans to make the following contributions to her retirement account: $10,000 for each of the…

A: In order to find how much money she will have one has to calculate the future value after 20 years.

Q: etirement for 20 years, a self-employed engineer deposits P6,000 every end of 3 months in a fund…

A: Given information : Time period (years) 20 Periodic deposits 6000 Payment  quarterly…

Q: ) Gabrielle needs $200,000 in eight years. She has set up a sinking fund that earns 5% compounded…

A: Future Value is $200,000 Time period is 8 years Interest rate compounded monthly is 5% To Find:…

Q: A man who won 730,000 pesos in a lottery decided to place 50% of his winnings in a trust fund for…

A: A man won a lottery of worth = 730,000 pesos He invested 50% in trust funds for his son education =…

Q: Georgia McBeal is trying to save for her retirement. She believes she can earn 10% on average each…

A: Average return is the return which an investor earns from investing in an investment. Higher the…

Q: For 13 years, Janet saved $250 at the beginning of every month in a fund that earned 4.5% compounded…

A: Compounding is a method of charging interest in which Interest is charged on the amount including…

Q: Using the appropriate interest table, provide the solution to each of the following four questions…

A: For finding the yearly annual payments, we need to use the formula for Future Value of Annuity- FV…

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…

Q: Abul plans to retire in exactly 20 years. His goal is to create a fund that will allow him to…

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

Q: Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they…

A: To calculate the deposit amount we will use the present value formula as follows:   Deposit amount =…

Q: Alan is investing $40,000 in a fund that earns 5% interest compounded annually. Click here to view…

A: Present Value of annuity refers to the present value of all the future payments of and series of…

Q: On Sarah’s 18th birthday, she creates a trust fund to pay her a sequence of nine semiannual payments…

A: pva=A×1-11+RMM×NRM A=ANNUITY R=RATE OF INTEREST M=FREQUENCY OF COMPOUNDING N=NUMBER OF YEARS

Q: nnifer started to deposit ₱1,000 monthly in a fund that pays 6% compounded quarterly. How much will…

A: In this we need to calculate the future value of annuity.

Q: Joe Hernandez has inherited $25,000 and wishes to purchase an annuity that will provide him with a…

A: Time value tells that money received today is of more value than that of receiving the exact value…

Q: On his 21st birthday, Silver put P300,000 into a retirement fund account that pays 10% interest per…

A: we need to use compound interest formula to calculate value of retainment fund at the age of 65…

Q: Mr. Blochirt is creating a college investment fund for his daughter. He will put in $7,000 per year…

A: In this question we need to compute the amount of money Mr. Blochirt daughter have when she starts…

Q: Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage.…

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

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: Jeffrey invested the profit of his business in an investment fund that was earning 3.50% compounded…

A: FV = 0 N = 7*2 PMT = 5000 rate = (1 + 3.50%/12)^6 - 1 = 1.7628% use PV function in Excel