The parent wishes to prepare the future of their 10 year old son. Determine the monthly savings that the parent should make with interest of 8.12% per annum to amount P1,200,000.00 at the time his son will be 18. O a. P8,951.74
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- The parent wishes to prepare the future of their 10 year old son. Determine the monthly savings that the parent should make with interest of 8.12% per annum to amount P1,200,000.00 at the time his son will be 18.When your son is born you want to determine what lump amount would you have to be paid into an account bearing interest of 10%/yr to provide withdrawals of $10,000 on each of your son's 18th, 19th, 20th, and 21st birthdaySuppose you have a 1-year old daughter and you want to provide R81 000 in 19 years towards hercollege education. You currently have R2 000 to invest. What interest rate must you earn to havethe R81 000 when you need it?
- Q.1. You decide you want your child to be a millionaire. You have a son today and you deposit $15,000 in an investment account that earns 9% per year. The money in the account will be distributed to your son whenever the total reaches $1,000,000. How old will your son be when he gets the money (rounded to the nearest year)?9. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Ryan inherited an annuity worth $3,280.16 from his uncle. The annuity will pay him five equal payments of $800 at the end of each year. The annuity fund is offering a return of Ryan's friend, Sebastian, wants to go to business school. While his father will share some of the expenses, Sebastian still needs to put in the rest on his own. But Sebastian has no money saved for it yet. According to his calculations, it will cost him $30,044 to complete the business program, including tuition, cost of living, and other expenses. He has decided to deposit $4,200 at the end of every year in a mutual fund, from which he expects to earn a fixed 7% rate of return. It will take approximately for Sebastian to save enough money to go to business school.19. Andrew wants to open an account for his grandson that he hopes will have$30,000 in it when he turns 21. How much should he put into an accountmonthly that earns 2.5% interest, compounded monthly, if he begins when hisgrandson is born?A. $84.46B. $96.47C. $90.64D. $73.44
- 9. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. A. Anthony inherited an annuity worth $3,811.62 from his uncle. The annuity will pay him four equal payments of $1,100 at the end of each year. The annuity fund is offering a return of . B. Anthony’s friend, Jack, wants to go to business school. While his father will share some of the expenses, Jack still needs to put in the rest on his own. But Jack has no money saved for it yet. According to his calculations, it will cost him $32,406 to complete the business program, including tuition, cost of living, and other expenses. He has decided to deposit $4,200 at the end of every year in a mutual fund, from which he expects to earn a fixed 10% rate of return. It will take approximately for Jack to save enough money to go to business school.A couple plans to save for their child's college education. What principle must be deposited by the parents when their child is born in order to have 38? $1000 when? The child. Reaches? The age of eighteen assume the money earns nine percent interest compounded quarterly9. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Joshua inherited an annuity worth $6,830.77 from his uncle. The annuity will pay him eight equal payments of $1,100 at the end of each year. The annuity fund is offering a return of Joshua's friend, willie, has hired a financial planner for advice on retirement. Considering Willie's current expenses and expected future lifestyle changes, the financial planner has stated that once Willie crosses a threshold of $1,387,311 in savings, he will have enough money for retirement. Willie has nothing saved for his retirement yet, so he plans to start depositing $25,000 in a retirement fund at a fixed rate of 6.00% at the end of each year. It will take v for Willie to reach his retirement goal.
- A mother wants to insure the education of his son. On the 7th birthday of the son, he invest in a fund the amount of P 200,000.00 earning at 6.5% interest rate compounded monthly; on the 10th birthday another P 200,000.00 at an interest rate of 7.3% compounded monthly: on the 15th birthday another sum of money at 8% compounded monthly. If on the 18th birthday the son have a total withdrawable amount of P1.3M, how much is the 3rd investment?You deposit a lump sum P in a trust fund on the day your child is born. The fund earns 6.5% interest compounded continuously. Find the amount P that will yield the given balance A on your child's 27th birthday. (Round your answer to the nearest cent.) A = $5,000,000 P = $Sara wants to have $530,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 9%, to ensure that she has $530,000 in 18 years time? OA. $112,357 OB. $202,243 OC. $119,492 O D. $157,300