Willow is saving $8,100 at the beginning of each month, for 9 years. How much will they have if the money earns 10% compounded monthly? Group of answer choices $464,141 $1,409,835 $475,745 $1,421,584.
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Willow is saving $8,100 at the beginning of each month, for 9 years. How much will they have if the money earns 10% compounded monthly? Group of answer choices $464,141 $1,409,835 $475,745 $1,421,584.
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- You are scheduled to receive $10,000 in three years. When you receive it, you will invest it for six years at 7.2 percent per year. How much will you have in nine years? (hint: draw a timeline) Multiple Choice $18,696.19 $17,290.61 $13,788.43 $15,176.40 $16,611.93Jasmine won a prize: the right to receive 36 payments of $100 per month with the first payment one month from today. If money is worth 6% compounded monthly, what is the economic value of these payments one year from today? a $3489.84 b $3600.00 c $2256.29 d $3287.10 e $3933.61Sara met with a financial planner and has determined that she will need $1,250,000 when she retires in 30 years. She has found an annuity that pays 5.65%, compounded monthly. What will she need to save each month, if a) Sara waits 20 years to start saving? N: P/Y: I%: C/Y: PMT: FV: End or Begin $645.10 $1,024.80 $9,021.75 $1,000,000
- Isabella is saving $6,200 at the beginning of each month, for 2 years. How much will they have if the money earns 15% compounded monthly? Group of answer choices $58,745 $174,440 $172,286 $56,622You are scheduled to receive $45,000 in two years. When you receive it, you will invest it for 8 more years at 6 percent per year. How much will you have in 10 years? Multiple Choice $80,588.15 $75,309.32 $68,137.01 $51,341.32 $71,723.16After retirement, you expect to live for 25 years. You would like to have $90,000 in income each year. How much should you have saved in your retirement account to receive this income if the annual interest rate is 9 percent per year? (Assume that the payments start one year after your retirement.) Multiple Choice $884,032.16 $99.986.08 $2,250,000.00 $1,456,153.94
- Use the table to solve the following problem. Round to the nearest cent. Jenny Sherrer has $ 29,000 to invest and believes that she will earn 8% compounded semiannually. Find the compound amounts if she invests for 4 years and for 8 years. Then find the additional amount earned due to the longer period. $ 14,627.89 $ 5,762.59 $ 45,675.29 $ 20,390.48Sue now has $215. How much would she have after 6 years if she leaves it invested at 8.5% with monthly compounding? Select one: a. $384.77 b. $357.39 C. $350.17 d. $375.33You are thinking about purchasing an investment from Get-Rich-Quick Investmemnt company. If you buy the investment, you will receive $50 every month for five(5)years. Payment will be made at the end of each month. If your required rate of return is 9% how much should you be willing to pay for this investment? Group of answer choices $4,632.87 $2,735.25 $2,525.10 $2,408.67
- Sara met with a financial planner and has determined that she will need $1,250,000 when she retires in 30 years. She has found an annuity that pays 5.65%, compounded monthly. What will she need to save each month, if a) Sara begins saving now? N: P/Y: I%: C/Y: PMT: FV: End or Begin $1,323.80 $9,473.56 $645.10 $1,000,000You would like to receive $6000 per month for 30 years after you retire in 40 years from now. The first monthly payment is to be received at the end of the 1st month after you retire. The retirement account is expected to provide 11% return. What is the amount you must deposit each year for 40 years to achieve your goal? Group of answer choices $28,921.22 $1,082.86 $3,956.71 $21,912.45 $2,233.41Emmy wants to save 6000 dollars for a down payment on a car. How much will she need to invest in an account with 7.9% APR compounded 9 times per year, in order to reach her goal in 4 years? Round your answer to the nearest cent. Submit Question