If you desire to have $25,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 3 percent.
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If you desire to have $25,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 3 percent.
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- If you desire to have $15,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 2 percent.If you desire to have $15,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 2 percent. Use the appropriate factor(s) from the tables providedyou need $8,000 four years from now for a down payment on your future house. How much money must you deposit today if your credit union pays 5% interest compounded annually? Pick the closest answer.
- If you desire to have $15,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 5 percent. Use the appropriate factor(s) from the tables provided (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)To save for a down payment on a home, suppose you decide to invest in an annuity that pays 7.0% annual interest, compounded annually. If you contribute $8,000 every year for 5 years, how much interest would you earn during the 5years? Enter your answer, rounded to the nearest cent, without the dollar sign or comma ($21,678.1235 should be entered as 21678.12.)To save for a down payment on a home, you invest in an annuity that pays 7.0% annual interest, compounded annually. If you contribute $8,000 every year for 5 years, how much interest would you earn during the 5 years? Round your answer to the nearest cent.Do NOT round until you have calculated the final answer.
- You would like to have enough money saved to receive a $90,000 per year perpetuity after retirement. The annual interest rate is 8 percent. Required: How much would you need to have saved in your retirement fund to achieve this goal? a) Assume that the perpetuity payments start on the day of your retirement. b) Assume that the perpetuity payments start one year from the date of your retirement.You want to be able to withdraw $35,000 from your account each year for 20 years after you retire. If you expect to retire in 30 years and your account earns 7.9% interest while saving for retirement and 7.7% interest while retired:Round your answers to the nearest cent as needed.a) How much will you need to have when you retire?$b) How much will you need to deposit each month until retirement to achieve your retirement goals?$c) How much did you deposit into you retirement account?$d) How much did you receive in payments during retirement?$e) How much of the money you received was interest?You want to make five annual payments of $6,000 beginning now in order to accumulate $35,000 for a down payment on a house in five years. What is the annual interest rate you would need to receive to accomplish this goal?
- 1. What is the amount you would have to deposit today to be able to take out $2070 a year for 2 years from an account earning 14 percent. 2. If you desire to have $38300 for a down payment for a house in 11 years, what amount would you need to deposit today? Assume that your money will earn 4 percent.You need to have $25000 for a down payment on a house in 5 years. If you can earn an annual interest rate of 4.7 percent , how much will you have to deposit today?Can you help me work out this problem in detail? Ben wants to receive $6,000 a year for 10 years. How much must he invest today in an annuity that pays 7% annually?