Question

In: Finance

You want to quit your job and go back to school for a law degree 4...

You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $2,100 per year, beginning immediately. You will make 4 deposits in an account that pays 5.7% interest. Under these assumptions, how much will you have 4 years from today?

Solutions

Expert Solution


Related Solutions

You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $5,000 per year, beginning immediately.
Part A: You want to quit your job and return to school for an MBA degree 3 years from now, and you plan to save $5,000 per year, beginning immediately. You will make 3 deposits in an account that pays 5.2% interest. Under these assumptions, how much will you have 3 years from today?a. $16,614.78b. $17,943.97c. $17,445.52d. $18,442.41e. $14,953.30Part B: What is the PV of an annuity due with 5 payments of $7,900 at an interest rate of 5.5%?a. $41,285.20b....
You are deciding if you should go to Law School, which is a three year degree....
You are deciding if you should go to Law School, which is a three year degree. If you do not go to law school, you will earn $47,000 per year. While you are in law school, you will have the opportunity to take a part-time job working for a professor for $12,000 per year. Tuition is $30,000 per year. Once you get a law degree, you will earn $100,000 per year. For simplicity, assume no raises. a) Suppose the interest...
To complete your last year in business school and then go through law school, you will...
To complete your last year in business school and then go through law school, you will need $35,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $35,000 one year from today). Your uncle offers to put you through school, and he will deposit in a bank paying 9.73% interest a sum of money that is sufficient to provide the 4 payments of $35,000 each. His deposit will be made today. How...
Drew is undecided about whether to go back to school and get his master’s degree. He...
Drew is undecided about whether to go back to school and get his master’s degree. He is trying to perform a cost-benefit analysis to determine whether the cost of attending the school of his choice will be outweighed by the increase in salary he will receive after he attains his degree. He does research and complies data on annual salaries in the industry he currently works in (he has been working for 10 years), along with the years of experience...
Chris is undecided about whether to go back to school and get his master’s degree. He...
Chris is undecided about whether to go back to school and get his master’s degree. He is trying to perform a cost-benefit analysis to determine whether the cost of attending the school of his choice will be outweighed by the increase in salary he will receive after he attains his degree. He does research and compiles data on annual salaries in the industry he currently works in (he has been working for 10 years), along with the years of experience...
Jack is undecided about whether to go back to school and get his master’s degree. He...
Jack is undecided about whether to go back to school and get his master’s degree. He is trying to perform a cost-benefit analysis to determine whether the cost of attending the school of his choice will be outweighed by the increase in salary he will receive after he attains his degree. He does research and compiles data on annual salaries in the industry he currently works in (he has been working for 10 years), along with the years of experience...
Think about the type of job or career you want when you finish your degree (or...
Think about the type of job or career you want when you finish your degree (or a job you have now). Describe a scenario where you would have to use one of the following skills: Create and Sort/Filter a table Create a Pivot Table Importing Data Why would this be the best way to organize your data? What will this help you do? Why would you choose this method over another? Be specific.
Consider the following scenario: Your good friend Kyle would like to go back to school to...
Consider the following scenario: Your good friend Kyle would like to go back to school to complete a bachelor’s degree in Early Childhood Education so that he can fulfill his dreams of teaching 2nd grade. Years ago, he started college, but work and life responsibilities got in the way of him finishing. He knows that you recently enrolled at Ashford University and wants to ask your advice as he plans his next move. In order to help pay for his...
Consider the following scenario: Your good friend Kyle would like to go back to school to...
Consider the following scenario: Your good friend Kyle would like to go back to school to complete a bachelor’s degree in Early Childhood Education so that he can fulfill his dreams of teaching 2nd grade. Years ago, he started college, but work and life responsibilities got in the way of him finishing. He knows that you recently enrolled at Ashford University and wants to ask your advice as he plans his next move. In order to help pay for his...
You quit your job (which paid an annual wage of $40,000) inorder to start your...
You quit your job (which paid an annual wage of $40,000) in order to start your own business. You run your business out of a room in your home which you formerly rented out to a college student for $1,000 per month. Your monthly mortgage and homeowners insurance costs total $2,000. You hire an assistant at an annual wage of $20,000. Costs for materials for your business are $100,000 per year. Additional expenses for your business total $10,000. During your...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT