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- What amount of money (in Php) invested today at 13.61% interest can provide the following scholarships: Php 35,459 at the end of each year for first 7 years, Php 45,410 each year for the next 7 years, and Php 55.212 therafter?Richard wants to ensure that at least some of his descendants are well educated in perpetuity. He is planning for 5 college students each generation at ₱125,000 each. He estimates that the generations will be spaced every 25 years, but the first generation will be in 10 years. If the trust will earn 6%, how much money should be deposited now? Solutions manual only, we don't need Microsoft Excel.You are an avid 34 year old coffee drinker, and never miss a day without your $4.00 Starbucks caffe latte. However, you also understand the importance of the time value of money and saving for retirement early, so you set a New Year's Resolution to abstain from your coffee-drinking ways this year. At the end of the year, you will place all of your coffee savings in a retirement account. How much will this savings amount to when you retire in 30 years at the age of 65, if invested at a 7.5% annual interest rate (rounded to the nearest dollar)? Assume that the cost of the cup of coffee remains unchanged throughout the year.
- Richard wants to ensure that at least some of his descendants are well educated in perpetuity. He is planning for 5 college students each generation at $125,000 each. He estimates that the generations will be spaced every 25 years, but the first generation will be in 10 years. If the trust will earn 6%, how much money should be deposited now? Please state the formula and the given. Step by step Solutions.The surface area of a certain plant that requires painting is 8,300 sq. ft. Two kinds of paint are available whose brands are A and B. Paint A costs Php 1.50 per sq.ft. but needs renewal at the end of every 4 years while paint B costs PHP 1.90 per sq.ft. If money is worth 12% effective, how often should paint B be renewed so that it will be economical as paint A? a.6.465 years b.7.465 years c.5.465 years d.8.465 yearsshow your solution As an engineer, you plan to put aside 20% of your yearly income. You expect to make Php1 million in the first year, and then you expect your income to increase by 10,000 each year for the next 6 years. At the interest rate 10% per year, what is the accumulated amount after 6 years? a.Php 524,456 b.Php 807,723 c.Php 967,893 d.Php 1,714,683
- The average annual cost of damages caused by floods at Dona Rosario Villagelocated along Butuanon river is estimated at P700,000. To build a gravity dam to protectthe area from the floods, would cost P2,500,000 and would involve an annual maintenancecost of P20,000. With interest at 8% compounded annually, how many years will it takefor the dam to pay for itself? OPTIONS A. 4.0 years B. 4.5 years C. 5.0 years D. 5.5 yearsThe sole proprietor of the FM2 Financial Services, Bondo, receives allaccounting profits earned by her firm and a K28,000-a-year salary she pays herself. Itis noteworthy that she also has a standing salary offer of K35,000 a year if she agreesto work for Bank of Zambia. If she had invested her capital outside her own company,she estimates that would have made a return of K22,000 a year. Further, informationhas reached you that last year, Bondo’s accounting profit was K50,000. Calculate hereconomic profit?How many months will it take for PHP 580,000 to amount to PHP 800,000, at a discount interest rate of 5.5%?
- An expenditure of Php 1,000,000 is made to modify a material-handling system ina small job shop. This modification will result in first-year savings of Php 100,000,a second-year savings of Php 200,000, and a savings of Php 250,000 per yearthereafter. How many years must the system last if an 18% return on investmentis required? The system is tailor made for this job shop and has no market (salvage)value at any time.Q19 solutio n nededSuppose a friend of yours invests $100 each month in an individual retirement account (IRA) for a decade and earns an unbelievable APR of 12% a year (1% per month) on her investment. She will end up with $100 (F/A, 1%, 120) = $100 (230.0387) = $23,003.87 after 10 years. If you decide to invest $200 each month over 10 years, but can earn only a meager APR of 3% per year on it, roughly how much will you have accumulated after 10 years?Choose the closest answer. (a) $19,000 (b) $24,000 (c) $28,000 (d) $46,000.