Kurt wants to have RM25,000 in an investment account four years from now. The account will pay 0.2 percent interest per month. If he saves money every month, starting one month from now, how much will he have to save each month to reach his goal?
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Kurt wants to have RM25,000 in an investment account four years from now. The account will pay 0.2 percent interest per month. If he saves money every month, starting one month from now, how much will he have to save each month to reach his goal?
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- Danny is saving towards his vacation. He has determined that the total cost including airfare and accommodation will amount to $5,000. a. If he sets aside $400 per month from his salary, starting from the end of this month, in an account that pays interest of 9% per annum, will he have enough to make the trip at the end of the year? b. How much more will he have in the account if he made his first deposit of $400 today? What kind of annuity is this?6. Michael wants to have $20,000 in an investment account seven years from now. The account will pay 0.4 percent interest per month. If Michael saves money every month, starting one month from now, how much will he have to save each month?You are contributing money to an investment account so that you can purchase a house in six (6) years. You plan to contribute seven payments of $2,000 a year--the first payment will be made today (t = 0), and the final payment will be made six years from now (t = 6). If you earn 11 percent in your investment account, how much money will you have in the account six years from now (at t = 6)? Select one: a. $20,856 b. $15,350 c. $19,567 d. $17,412 e. $11,683
- Raya is saving for a new car. He needs to have OMR 21000 for the car in three years. How much will he have to invest today in an account paying 8 percent annually to achieve his targetMark deposits $40,000 now into an account which will earn interest at a rate of 8% per year, how much money can he withdraw annually, if he makes his first withdrawal 5 years from now and he wants to make a total of 10 withdrawals?John has an investment opportunity that promises to pay him $16,000 in four years. He could earn a 6% annual return investing his money elsewhere.Suppose the opportunity requires John to invest $13,200 today. What is the interest rate John would earn on this investment?
- Jon is planning to buy a house in 20 years. He wants to invest 870 USD now and hopes to have 9870 USD to spend on the house when he buys it. What kind of interest rate would he need if his investment is compounded monthly?Paolo is considering purchasing a Sunlife Capital investment. Paolo will receive P1,000 every three months for the next two years if he purchases the investment. He would make the first P1,000 payment as soon as he purchases the investment. How much should Paolo be willing to pay for this investment if his required rate of return is 16%? * P1,345.60 P10,764.80 P7,002.05 P1,368.57Kelvin has 45 years left until retirement and wants to retire with RM4 million. Assuming that his monthly salary is RM50,000, and he can earn an annual return of 9 percent on the money he invests monthly. If he saves a constant percentage of his salary, what percentage of his salary must he save each month?
- Greg wants to have $50 000 in five years. He has $20 000 today to invest. The bank is offering five- year investment certificates that pay interest compounded quarterly. What is the minimum nominal interest rate he would have to receive to reach his goal?Christopher wants to have 50,000 pesos in 4 years by saving equal regularpayments. He can make a deposit at the end of each month in account thatearns 8.5% per year compounded quarterly. How much must he deposit toachieve his goal?Chester hopes to earn $1200 in interest in 2.5years time from $60,000that he has available to invest. To decide if it's feasible to do this by investing in an account that compounds monthly, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate of interest have to be? Round to two decimal places.
