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Suppose you need $1,000 in one year and
$2,000 more in two years. If you can earn 9%,
how much do you need to put up today?
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- Suppose you want to buy a new house. You currently have $15 000 and you figure you need to have a 10% down payment plus an additional 5% of the loan amount in closing costs. If the type of house you want costs about $150 000 and you can earn 7,5% per year, how long will it be before you have enough money for the down payment and closing costs?Suppose you want to buy a new house. You currently have $20,000, and you figure you need to have a 10% down payment plus an additional 5% in closing costs. If the type of house you want costs about $150,000 and you can earn 8.5% per year, how long will it be before you have enough money for the down payment and closing costs?You have a client who wants to buy a house. He needs $40,000 for a down payment and has $30,000 right now. If he can earn 5% compounded quarterly, on his savings, how long will it take to reach his goal?
- How much do you need to save each year for 30 years in order to have $775,000, assuming you are investing the money in an account that earns 8%? How much of the $775,000 comes from contributions (your out of pocket costs)?You want to purchase a house in 10 years. you estimate the cost will be $184,500.00. you want to make a 20% down payment and pay closing costs, which are 8.5%. how much are the down payment and closing costs? How much do you need to save each month to reach your goal?suppose you want to make sure you have 2,000,000 when you retire in 35 years. what even annual payment would you have to make to get to your goal. if you can earn 6% a year
- Suppose you save $100 per month. How long will it take you to accumulate $10,000 if the annual interest rate is 5%?1.) Starting with $15,000, how much will you have in 10 years if you can earn 6 percent on your money? 2.) If you can earn only 4 percent? If the average new home costs $275,000 today, how much will it cost in 10 years if the price increases by 5 percent each year? 3.) If you can earn 4 percent, how much will you have to save each year if you want to retire in 35 years with $1 million?Suppose you will need $20,000 in 3 years. How much must you invest per month in order to have $20,000 if money earns an annual rate 12% compounded monthly? How much of the $20,000 is interest?
- (Use Calculator or Formula Approach) Suppose you need $15,000 in 3 years . If you can earn 6% annually, how much do you need to invest today? If you could invest the money at 8%, would you have to invest more or less than at 6%? How much?How much do you need to save each year for 30 years in order to have $775,000, assuming you are investing the money in an account that earns 8%? How much of the $750,000 comes from principal (you’re out of pocket costs)?you want to have $10,000 in 5 years and can earn 3.2% annually. How much must you deposit today to achieve your goal?