You won the lottery today and immediately deposit your funds into an investment account that earns 9% compounded monthly for 3 years until you finish school. You then retire and start to receive your BEGINNING of the month payments of $11,151.98 for 60 years (before the money runs out). How much did you win?? (Timeline is 63 years and interest is 9% comp. monthly for 63 years as well).

Q: On the day you entered college, you borrowed $30,000 from your local bank. The terms of the loan…

A: The computation of total interest is done as shown:

Q: New parents wish to save for their newborn's education and wish to have $46,000 at the end of 17…

A: Computation of yearly payment:Hence, the yearly payment is -$1,682.02.

Q: You have just deposited $5,000 into an account that promises to pay you an annual interest rate of…

A: Amount of deposit=$5000Interest rate=5.3%Number of years=10

Q: George secured an adjustable-rate mortgage (ARM) loan to help finance the purchase of his home 5…

A: This question provides that the interest rate goes down to 5.50 per year from 6.0% per and it is…

Q: el started to deposit P5,000 quarterly in a fund that pays 1% compounded quarterly. How much will be…

A: The money grow with time and depending on the interest rate and compounding the future value grow…

Q: You have just won the lottery and took a lump sum payout. After talking with a financial adviser you…

A: Present value of $16,000: Present value: $376,205.407024

Q: Assume today is 1 September, and this is the birthday of your two children, Ashley and Alex. Ashley…

A: PV is the current worth of cash flows that are expected to happen in the future.

Q: Assume today is 1 September, and this is the birthday of your two children, Ashley and Alex. Ashley…

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

Q: AN INSTRUCTOR PLANS TO RETIRE IN ONE YEAR AND WANTS AN ACCOUNT THAT WILL PAY HIM P25,000.00 A YEAR…

A: Present value of annuity is the current value of the future payments that are calculated using the…

Q: Steven just deposited $10,000 in a bank account that has a 12 percent nominal interest rate, and in…

A: Given, Deposit amount = $10,000 Nominal interest rate = 12% (Compounded monthly) Additional…

Q: Belle decided to start a new investment account.  She deposits $1,000 into an account that earns…

A: Using excel FV function

Q: Saturnino won a lottery and will receive a check for P700,000 at the beginning of each quarter for…

A: An annuity is a periodic cash flow that occurs at regular intervals. The future value of the annuity…

Q: Joe secured a loan of $15,000 two years ago from a bank for use toward his college expenses. The…

A: Monthly payment The minimum value that is required to be paid each month by an individual for the…

Q: Assume today is 1 September, and this is the birthday of your two children, Ashley and Alex. Ashley…

A: Present value of annuity due would be provided the current value of an amount which is accumulated…

Q: Eric invested his savings in a bank at 3.75% compounded monthly. How much money did he invest to…

A: The value of current payment or upcoming flow of payments at any future date when flow of payment…

Q: You have just deposited $9,500 into an account that promises to pay you an annual interest rate of…

A: GOAL (FV) 27940 INTEREST RATE 6.20% YEARS 8+12=20 PMT 0 PV 9500

Q: How much will you have saved at the end of 6 years? Find the interest.

A: A stream of equal cash flows paid or received periodically is termed as annuity. Annuity is either…

Q: To save up for your dream business, you committed to deposit P2,000, starting today, every month in…

A: Present value (PV)= P2,000 Interest rate (r)= 6% Number of period (n)= 5 Future value (FV)

Q: Use the formula for the value of an annuity to solve:To offer scholarship funds to children of…

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

Q: value of the investment after 5 years b) How much interest was earned

A: An annuity is the fixed amount that is deposited at a fixed interval of time over a predetermined…

Q: William got a loan for 25,000 dlls to be payable in 19 years with interest rate of 1.7 percent per…

A: Loan amount = 25000 dlls Period = 19 Years Annual interest rate = 1.7%

Q: Josie wants to be able to celebrate her graduation from CSULA in 4 years. She found an annuity that…

A: *As per bartleby in case of interlinked question, answer first 3 only   Here in the given question…

Q: You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10…

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

Q: Jacqueline invested the profit of her business in an investment fund that was earning 2.50%…

A: Let the amount invested in the fund be $ X. Interest rate = 2.50 % compounded monthly The money is…

Q: how much money will have accumulated at the end of the 10-year period

A: Future Value of Annuity: It is the future worth of a series of cashflows/payments compounded over a…

Q: Assume today is 1 September, and this is the birthday of your two children, Ashley and Alex. Ashley…

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

Q: Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement…

A: Annuity refers to series of equalized payments that are made at start or end of definite period. It…

Q: Assume today is 1 September, and this is the birthday of your two children, Ashley and Alex. Ashley…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 2% interest…

A: Future value (FV) refers to a means of estimating how much an asset or cash's present value (PV)…

Q: he college tuition is expected to increase with an average of 5% per year for the next 5 years. The…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: You have just deposited $12,000 into an account that promises to pay you an annual interest rate of…

A: Calculate the future value at the end of the year 8 as follows: Future value = Present…

Q: After graduation, you plan to work for Asia Corporation for 12 years and then start your own…

A:

Q: Matthew invested the profit of his business in an investment fund that was earning 3.75% compounded…

A: Data given: APR( monthly) = 3.75% Semi-annual withdrawal = $ 2500 No.of years to first withdrawal =…

Q: petual annuity that pays 2% interest compounded monthly. The prize money is paid out in fixed…

A: Perpetual annuity is a concept of infinite payment of cash flow series. Here the total amount of…

Q: At the beginning of your freshman year, your favorite aunt and uncle deposit $10,000 intoa 4-year…

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

Q: You just won the lottery. You and your heirs will receive $40,000 per year forever, beginning 10…

A: PV today, of a perpetuity starting a year from now is given by = P / r where P = perptuity amount…

Q: Assume today is 1 September, and this is the birthday of your two children, Ashley and Alex. Ashley…

A: Ashley is 5 years old8 Time is taken to go to college =18 years - 5 years =13 years   Interest rate…

Q: You plan to buy the house of your dreams in 18 years. You have estimated that the price of the house…

A: Monthly payment refers to the periodic payments made towards the acquisition of an asset or security…

Q: Julian won the lottery. He deposits some of his winnings into an account earning 2.75% interest…

A: Interest rate = 2.75%  Deposits = $25,000  Time period = 5 years  Quarterely payments = $1,000…

Q: You turned 22 today and you want to retire on your 58th birthday.    Starting with the day of your…

A: Present value is defined as the current value of future sum of the cash flow stream or money, which…

Q: Tuition is expected to increase with an average of 5% per year for the next 5 years. The annual cost…

A: Mutual funds are pool of funds invested by the mutual fund companies on behalf of the investors…

Q: A student plans to deposit $1,500 in the bank now and another $3,000 for the next 2 years. If he or…

A: Deposit now = $ 1500 Deposit after 2 years = $ 3000 Withdraw after 5 years = $ 5000 Future value…

Q: Today is 1 September, and this is the birthday of your two children, Tom and Lilly. Tom is 1 year…

A: A financial measurement that calculates the worth of a potential sum of money or stream of payments…

Q: my cousin hershey is a newly public school teacher who plans for education of her future children.…

A: Annuities assume that money is put into the account on a regular schedule and money is left in the…

Q: Suppose your parents deposit $4,000 into an account at the end of each year for 11 years. The…

A: Information Provided: Return for the first 11 years = 1.40%Return for the next 16 years = 6.90%…

Q: You just won a special lottery which will entitle you to an annual payment $45000 for 10 years, but…

A: In this we have to calculate future value FACTOR and future value.

Q: Tyler invested the profit of her business in an investment fund that was earning 3.75% compounded…

A: Present Value:  The present value is the present sum of a series of fixed payments. The series of…