Beth decides to save $250 every month for the next five years so she can start a small baking business in her home. She is investing the money and can earn 6% on her investment. How much will Beth have saved over the five years? Use the factor tables found in Canvas or your financial calculator to solve: Round your answer to the nearest dollar: $
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- 1. Kyoko has $10,000 that she wants to invest. Her bank has several investment accounts to choose from, all compounding daily. Her goal is to have $15,000 by the time she finishes graduate school in 6 years. To the nearest hundredth of a percent, what should her minimum annual interest rate be in order to reach her goal? If you use an online financial calculator (look up "compound interest calculator") to answer this, provide a screenshot of three different scenarios that you tried, as well as the correct one.Use a financial calculator or computer software program to answer the following questions: a) Melanie is trying to save money for retirement and has a future goal of $750,000 at the end of 20 years. Determine the present value of her goal using a discount rate of 12%. b) How would the present value change if the $750,000 is to be received at the end of 15 years instead? Explain the impact and show your work?Use a financial calculator or computer software program to answer the following questions: Melanie is trying to save money for retirement and has a future goal of $750,000 at the end of 20 years. Determine the present value of her goal using a discount rate of 11%. How would the present value change if the $750,000 is to be received at the end of 15 years instead? Explain the impact and show your work?
- Matt plans to start his own business once he graduates from college. He plans to save $2,900 every six months for the next four years. If his savings earn 8% annually (or 4% every six months), determine how much he will save by the end of the fourth year. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.) Total savingsBilly Dan and Betty Lou were recently married and want to start saving for their dream home. They expect the house they want will cost approximately $255,000. They hope to be able to purchase the house for cash in 7 years. To determine the appropriate discount factor(s) using tables, click here to view Tables I. II. II. or IV in the appendix. Alternatively, if you calculate the discount factor(s) using a formula, round to six (6) decimal places before using the factor in the problem. Required a. How much will Billy Dan and Betty Lou have to invest each year to purchase their dream home at the end of 7 years? Assume an interest rate of 9 percent. b. Billy Dan's parents want to give the couple a substantial wedding gift for the purchase of their future home. How much must Billy Dan's parents give them now if they are to reach the desired amount of $255,000 in 9 years? Assume an interest rate of 9 percent. Complete this question by entering your answers in the tabs below. Required A…Angela wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $34,000 (if she needs more, she will work odd jobs). Angela believes she can invest her savings at 8% until she depletes her funds. (Click the icon to view Present Value of $1 table.) of $1 table.) (Click the icon to view Future Value of $1 table.) of $1 table.) Read the requirements. (Click the icon to view Present Value of Ordinary Annuity (Click the icon to view Future Value of Ordinary Annuity Requirement 1. How much money does Angela need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 8% interest rate, Angela needs
- Matt plans to start his own business once he graduates from college. He plans to save $3,000 every six months for the next five years. If his savings earn 10% annually (or 5% every six months ), determine how much he will save by the end of the fifth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.)Malek and his partner just had a baby. They want to start saving up for the child's college. Their goal is to have $20,000 after 18 years. They find a fund that offers 6% annual interest compounded monthly. They open the account with a starting balance of $0. a) Suppose they will use a spreadsheet to compute their monthly deposit. Choose the correct function from the pull-down menu, and enter the values that you would input into that function. ( b) Enter the above expression into Google sheets. Find the monthly deposit needed to meet their goal. Monthly deposit = $ (Round to the nearest cent) c) What is the total amount of money that they deposit into the account over the 18 years? Total amount deposited = $ (Round to the nearest dollar) d) How much interest would they earn from this investment? Interest = $ (Round to the nearest dollar) Please answer all parts of the question.a 20 year old college student wants to save $3 a day for her retirement. Every day she places $3 in a drawer. At the end of the year, she invests the accumulated savings ($1095) in a brokerage account with an expected annual return of 12%. 1) how much will she have when she is 65 years old? (Draw a timeline and use both the formula and financial calculator methods) 2) How much must a 40 year old investor needs to deposit annually to catch the 20 year old when the investor becomes 65 years old? (draw a time line and use both the the formula and financial calculator methods)
- Answer the following question step by step using a financial calculator. Show all working step by step: Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3 years. She will have enough to pay for the trip if she invests $2,500 per year until that anniversary and plans to make her first $2,500 investment on their first anniversary. Assume her investment earns a 4 percent interest rate, how much will she have saved for their trip if the interest is compounded in each of the following ways?a. Annually b. Quarterly c. MonthlyTo be able to take her dream vacation, Maya decides to save for 4 years. She opens a savings account with $500. The account pays simple interest at an annual rate of 4%. She doesn't make any more deposits. Answer the following questions. If necessary, refer to the list of financial formulas. (a) How much total interest will Maya earn? (b) What will the total amount in the account be (including interest)?Matt plans to start his own business once he graduates from college. He plans to save $1,700 every six months for the next five years. If his savings earn 10% annually (or 5% every six months), determine how much he will save by the end of the fifth year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.) Total savings