Sofia wants to start saving immediately for a trip to Hong Kong one year from now. She wants to accumulate P220,000 for the trip. Her savings account pays 12% compounded bimonthly. What must she deposit at the beginning of every two months to reach the target in one year?
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- Mary wants to have $14000 for a trip to Mexico in five years. How much does she need to deposit at the end each month into an account earning 3.6% compounded monthly in order to have the money she needs?A young engineer wants to surprise her husband with a European vacation for their tenth anniversary, which is five years from now. She determine that the trip will cost $7,000. Assuming an interest rate of 5.5% compounded daily, approximately how much money does she need to deposit today for the trip?what effective annual rate of return would rayne need to earn if she deposits 1,000 per month into an account beginning one month from today in order to have a total of 1000000 in 30 years?
- Sofia plans to save for next two years. She plans to put away $1000 every 6 months starting 6 months from now. What will be the value of her savings after two years if her savings accounts earns at a rate of 8% compounded semi- annually?What will be the deposit amount for Jane if she wants to buy a car within 7 years with a price of BDT2500000 and the Bank interest rate is 9%? Remember that Jane wants to make those payments in advance of each Quarter.Polin needs to accumulate$10,000. To do so she plans to make deposits of $1250 per year with the first payment being made a year from today in a bank account that pays 12% annually. Her last deposit will be less than $1250 if less is needed to round out to $10,000. How many years will it take you to reach $10,000 goal and how large will the last deposit be?
- Danny is saving towards his vacation. He has determined that the total cost including airfare and accommodation will amount to $5,000. a. If he sets aside $400 per month from his salary, starting from the end of this month, in an account that pays interest of 9% per annum, will he have enough to make the trip at the end of the year? b. How much more will he have in the account if he made his first deposit of $400 today? What kind of annuity is this?Michelle wants to set aside funds to take an around the world cruise in four years. Assuming that Michelle has $26000 to invest today in an account expected to earn 5% per annum, how much will she have to spend on her vacation? O $21388. O $31603. O $112063. O $33183.Samantha wants to open a clothing store using her own money. She estimates that she will need about $80,000. How much should she deposit quarterly into an account with an APR of 2.4% in order to accrue enough money in ten years? Round your answer to the nearest dollar.
- A person needs $18,000 immediately as a down payment on a new home. Suppose that she can borrow this money from her company credit union. She will be required to repay the loan in equal payments made every six months over the next 11 years. The annual interest rate being charged is 11% compounded continuously. What is the amount of each payment?Ann would like to have $20,000 saved in 7 years from today and can earn 3.8% on deposits. She plans to make sporadic deposits of $2,000 one year from today, $2,500 3 years from today, $500 at year 7. She plans to make one additional payment 4 years from today. How much must she deposit in 4 years to meet her goal?Sureshna wants to save $450,000.00 to book a space flight on Virgin Galactic. She makes deposits of $38,956.65 every six months into an investment account (at the start of each period) and it will take 5 years to reach the target. What is the nominal interest rate r26) on the investment account? a) This question deals with the value of an annuity b) There will be payments. The payment period is c) The payment amount is $ d) The nominal interest rate is e) The present/future value is S