Question

In: Finance

Please Show your work. 13. If you want to accumulate $250 after 30 years and your...

Please Show your work.
13. If you want to accumulate $250 after 30 years and your bank pays 2%, how much will you have to deposit monthly?

14. If you borrow $250 for 25 years at 6%, what will be your monthly payment?

15. If you can earn 15%, how long will it take for an investment today of $700 to grow to $5000?

16. If you save $100 monthly and your bank promises 15%, how many months will it take to accumulate $25,000?

Solutions

Expert Solution

Calculation for each of the question is shown below

Following shows the working


Related Solutions

Please show your work and do not use calculators. You need to accumulate $114,480 for your...
Please show your work and do not use calculators. You need to accumulate $114,480 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 14 years. The savings account pays 6.88 percent per year, compounded annually. How much will each annual payment be? Please show your work and do not use calculators.
****PLEASE ANSWER ASAP**** PLEASE SHOW WORK You want to maximize your utility and find your consumer...
****PLEASE ANSWER ASAP**** PLEASE SHOW WORK You want to maximize your utility and find your consumer optimum. Here is a table of your current situation: Taco Bell drink: $1.00 Taco Bell burrito supreme: $5.00 Income: $11.00 Drink    Total Utility                               Burrito supreme                        Total Utility 0            0                                                       0                                                0 1             100                                                 1                                                           600 2             220                                               2                                                          1100 3             280                                                 3                                                         1500 4             330                                                 4                                                         1600 5            350                                                  5                                                         1650 Calculate the Marginal Utility then the MU/P to find...
After making payments of $688.96 for 13 years on your 30-year loan at 7.75%, you decide...
After making payments of $688.96 for 13 years on your 30-year loan at 7.75%, you decide to sell your home. What is the loan payoff?
You plan to work for Strickland Corporation for 12 years after graduation and after that want...
You plan to work for Strickland Corporation for 12 years after graduation and after that want to start your own business. You expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). The first deposit will be made a year from today. In addition, your grandmother just gave you a $50,000 graduation gift that you...
You plan to work for Strickland Corporation for 12 years after graduation and after that want...
You plan to work for Strickland Corporation for 12 years after graduation and after that want to start your own business. You expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). The first deposit will be made a year from today. In addition, your grandmother just gave you a $20,000 graduation gift that you...
please show your work and formula on excel You are now 25 years old. You would...
please show your work and formula on excel You are now 25 years old. You would like to retire when you are 65 years old. You want to receive starting at 65 an annual income of $150,000 per year until you are 95. How much money must you have in your retirement account when you are 65? Assume you can earn 4% per annum.
You want to accumulate $1 million by your retirement date, which is 25 years from now....
You want to accumulate $1 million by your retirement date, which is 25 years from now. You will make 25 deposits in your bank, with the first occurring today. The bank pays 8% interest, compounded annually. You expect to receive annual raises of 3%, which will offset inflation, and you will let the amount you deposit each year also grow by 3% (i.e., your second deposit will be 3% greater than your first, the third will be 3% greater than...
What is the monthly sinking fund payments required to accumulate $410,000 after 30 years given that...
What is the monthly sinking fund payments required to accumulate $410,000 after 30 years given that interest rate is 10.0%?
MUST SHOW ALL WORK Suppose you want to purchase a home for $445,000 with a 30-year...
MUST SHOW ALL WORK Suppose you want to purchase a home for $445,000 with a 30-year mortgage at 4.17% interest. Suppose also that you can put down 20%. Find (a) What are the monthly payments? (b) What is the total amount paid for principal and interest? (c) What is the amount saved if this home is financed for 15 years instead of for 30 years?
Please show the work: Current book value per share is $30. For the next three years,...
Please show the work: Current book value per share is $30. For the next three years, the net income and dividends paid per share are shown in the table below. Compute the ending book value and residual income for each of the three years. The required rate of return on equity is 11%. The share price at the end of year 3 will be 2.5 times the book value at that time. Year 1 Year 2 Year 3 Net Income...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT