hool level assuming that the last contribution and his graduation will be held at the end of
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Kyle is a grade 5 student currently taking his modular class at home since the pandemic happened in the last
month of the first quarter of that year 2020 here in the Philippines. His Mom Lea tried to invest in Kyle’s future for
college which saves money of 500PhP twice a month which started at the beginning of the second quarter. What
will be the accumulated value after he finished his Senior High School level assuming that the last contribution
and his graduation will be held at the end of the second quarter with the equivalent of 8% cost of money
compounded on the stated period of contribution?
Requirements: Cash Flow diagram, Formula and solutions
Step by step
Solved in 2 steps
- Kyle is a grade 5 student currently taking his modular class at home since the pandemic happened in the last month of the first quarter of that year 2020 here in the Philippines. His Mom Lea tried to invest in Kyle’s future for college which saves money of 500PhP twice a month which started at the beginning of the second quarter. What will be the accumulated value after he finished his Senior High School level assuming that the last contribution and his graduation will be held at the end of the second quarter with the equivalent of 8% cost of money compounded on the stated period of contribution?PLEASE PROVIDE A CLEAR SOLUTION THANK YOUbut tion Johnny wants to save some money for his daughter Alexis's education. Tuition costs $12,500 per year in today's dollars. Alexis was born today and will go to school starting at age 18. She will go to school for 4 years. Johnny can earn 11% on his investments and tuition inflation is 7%. How much must Johnny save at the end of each year, if he wants to make his last savings payment at the beginning of his daughter's first year of college? O a. $2,694.56. b. $2,789.04. X OC. $2,861.65. O d. $3,176.43.Ali has decided to take a trip back home to California in 1 ½ years, but she needs to save up some money first. She deposits $55 every week into an account that has an APR of 0.14%. How much money will she be able to save up for her trip?
- Michiko and Saul are planning to attend the same university next year. The university estimates tuition, books, fees, and living costs to be 12,000 per year. Michikos father has agreed to give her the 12,000 she needs to attend the university. Saul has obtained a job at the university that will pay him 14,000 per year. After discussing their respective arrangements, Michiko figures that Saul will be better off than she will. What, if anything, is wrong with Michikos thinking?Keith Stone has a 10-year-old daughter, Kate, who will be entering college in 8 years. Keith estimates college costs to be $16,000, $17,000, $18,000, and $19,000 payable at the beginning of each of Kate's four years in college. How much must Keith save each year (assume end-of-year payments) for each of the next 8 years to have enough savings to pay for Kate's education? Assume Keith can earn 9% on his savings.Joanna’s Dad is looking to deposit a sum of money immediately into an account that pays an annual interest rate of 10% so that her first-year's college tuition costs are provided for. Currently, the average college tuition cost is $15,000 and is expected to increase by 5% annually (the average annual inflation rate). Joanna just turned 3 and is expected to start college when she turns 18. How much money will Joanna’s Dad have to deposit into the account?
- James decided to work in Baie-James in northern Quebec for a few years. He wanted to earn some big bucks working up north after he graduated in December 2020. His plan was to save as much as he could, to then travel throughout Africa. He received a gross annual salary of $130,000 in 2021 and the same in 2022. He made a Tax-Free Savings Account contribution of $6,000 on January 1, 2022, and $6,500 on January 1, 2023. He also made a Registered Retirement Savings Plan contribution of $23,400 on January 1, 2023, which he plans to use on his 2022 personal income tax return. He is making great money and saving it all. What is James’ average rate of tax in 2022? (ignore Non-Refundable Tax Credits, Quebec Abatement, and any employer withholdings) Tax bracket Tax rate $46,295 and under 27.53% $46,295-$50,197 32.53% $50,197-$92,580 37.12% $92,580-$100,392 41.12% $100,392-$112,655 45.71% $112,655-$155,625 47.46% $155,625-$221,708 50.28% over $221,708 53.31%…Your parents start saving for your sister's college education. She will begin college at age 18 and will need $4,000 per year at the end of each of the next 4 years. They will make a deposit one year from today in an account which pays 6% compounded annually, and an identical deposit each year including the year she starts college. If a deposit of $1,987 will allow them to reach their goal, how old is your sister now?Jharold need P4,000 per year for four years to go to college. His father invested P5,000 in 7% account for his education when he was born. If he withdraw P4,000 at the end of year 17th, 18th, 19th and 20th birthday, how much money will be left in the account at the end of the 21st year?
- James decided to work in Baie-James in northern Quebec for a few years. He wanted to earn some big bucks working up north after he graduated in December 2020. His plan was to save as much as he could, to then travel throughout Africa. He received a gross annual salary of $130,000 in 2021 and the same in 2022. He made a Tax-Free Savings Account contribution of $6,000 on January 1, 2022, and $6,500 on January 1, 2023. He also made a Registered Retirement Savings Plan contribution of $23,400 on January 1, 2023, which he plans to use on his 2022 personal income tax return. He is making great money and saving it all. What is James' average rate of tax in 2022? (ignore Non- Refundable Tax Credits, Quebec Abatement, and any employer withholdings) Tax bracket $46,295 and under $46,295- $50,197 $50,197- $92,580 $92,580- $100,392 $100,392- $112,655 $112,655- $155,625 $155,625- $221,708 over $221,708 Select one: a. 38% b. 34% C. 32% d. 41% e. 29% Tax rate 27.53% 32.53% 37.12% 41.12% 45.71% 47.46%…Taurus needs P 4,000 per year for four years to go to college. His sugar mama invested P 5,000 in 7 % account for your education when you were born. If you withdraw P4,000 at the end of your 17th, 18th, 19th and 20th birthday, how much will be left in the account at the end of the 21st year?A) When Liam Corbett was born, his grandparents opened a 529 college savings plan for him so that he had enough money to pay for college once he turned 18. His college education is expected to cost $225,000 on the day he turns 18 years old. Determine if there will be enough in the account given the following assumptions (Show your calculations): Assumption #1: The grandparents contribute $6,200 per year starting the day Liam is born and the account earns an average annual rate of return of 7%. Assumption # 2: The grandparents contribute $5,000 per year starting the day Liam is born and the account earns an average annual rate of return of 7%. Assumption # 3: The grandparents contribute $5,000 per year starting the day Liam is born and the account earns an average annual rate of return of 9%. Assumption #4: The grandparents contribute $8,500 per year starting the day Liam is born and the account earns an average annual rate of return of 4%. Assumption # 5: The grandparents contribute…
