Kelsey wants to set up a fund for his son's education such that he could withdraw $1,232.00 at the beginning of every 3 months for the next 4 years. If the fund can earn 4.10% compounded semi-annually, what amount could he deposit today to provide the payment?
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- Willie deposits a fixed monthly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of $75,000 in 15 years. Assuming an APR of 3.5%, how much will Wilie deposit monthly to reach his goal? How much of the 75,000 will Willie ultimately deposit and how much is interest earned?Zachary wants to set up a fund for her son's education such that she could withdraw $1,764.00 at the beginning of every 3 months for the next 3 years. If the fund can earn 4.60% compounded semi-annually, what amount could she deposit today to provide the payment?Willie deposits a fixed monthly amount into an annuity account for his child’s college fund. He wishes to accumulate a future value of $125,000 in 15 years. Assuming an APR of 3.5% how much money should Willie deposit monthly in order to reach his goal. How much of the $125,000 will Willie ultimately deposit in the account, and how much is interest earned?
- Jessie is thinking of establishing a fund for his daughter’s college education. He wants his daughter to be able to withdraw P60,000from the fund on her 18th birthday, again on her 19th birthday, again on her 20th birthday, up to her 23rd birthday. If the fund earns interest at 12% per year compounded annually, how much should Jessie deposit at the end of each year, fromthe time his daughter reaches 5 years old up to her 17th birthday?Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 7% annual interest rate, compounded monthly, in order to have $30,000 in the fund at the end of 15 years?Mr. J. J. Parker is creating a college fund for his daughter. He plans to make 15 yearly payments of $1500 each with the first payment deposited today on his daughter’s first birthday. Assuming his daughter will need four equal withdrawals from this account to pay for her education beginning when she is 18 (i.e. 18, 19, 20, 21), how much will she have on a yearly basis for her college career? J. J. expects to earn a hefty 12% annual return on his investment. (show work)
- James deposits $266.40 each month into an annuity account for his child's college fund in order to accumulate a future value of $80,000 in 18 years. How much of the $80,000 will James ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.Brenda Young desires to have $16,500 eight years from now for her daughter’s college fund. If she will earn 12 percent (compounded annually) on her money, what amount should she deposit now?Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 10% annual interest rate, compounded quarterly, in order to have $50,000 in the fund at the end of 15 years? They should deposit $
- Andrew deposits $306.06 each month into an annuity account for his child's college fund in order to accumulate a future value of $80,000 in 16 years. How much of the $80,000 will Andrew ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.Shauna wishes to establish a trust fund from which her son can withdraw $50,000 every six months for 18 years, when he reaches 30 years old. After 8 years, he will receive $500,000 for college. The trust will be invested at 8.7% per annum compounded semi-annually. How large should the trust be?Allain Dupre wants to set up a scholarship fund for his school. The annual scholarship payment is to be $3,600 with the first such payment due two years after his deposit into the fund. If the fund pays 4.5%compounded annually , how much must Alain deposit