It is likely that airplane tickets will increase 8% in each of the next 5 years. The cost of a plane ticket at the end of the first year will be 10622. How much money would need to be placed in a savings account now to have money to pay for a trip at the end of each year for the next 5 years? Assume the savings account pays 2% annual interest. Round your answer to 2 decimal places.
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- It is likely that airplane tickets will increase 5% in each of the next 4 years. The cost of a plane ticket at the end of the first year will be $10571. How much money would need to be placed in a savings account now to have money to pay for a trip at the end of each year for the next 4 years? Assume the savings account pays 2% annual interest. Round your answer to 2 decimal places. Add your answerShow complete solution (please write eligibly) 1. Find the uniform annual amount that is equivalent to a uniform gradient series in which the first year’s payment is $500, the second year’s payment is $600, the third year’s payment is $700, and so on, and there are a total of 22 payments. The annual interest rate is 11%. Round answer to 2 decimal places.8. What is the future value of a 7%, 5-year ordinary annuity that pays $300 each year?
- 6) Two annuities in perpetuity have the same effective annual interest rate. The first annuity pays $40 every 5 years, starting at the end of the 10th year and has present value $100. The second annuity pays $20 at the end of each 3 months, starting at the beginning of the first three months. Find the present value of the second annuity.QUESTION 1 Muhammad takes out a loan of $ 2,130, at 8% simple interest, for 8 years. How much will he pay back at the end of year 8? QUESTION 2 Calculate the amount of interest on an investment of AED 103,971 at 8% simple interest for 5 years. QUESTION 3 If you deposit today $7,335 in an account for 6 years and at the end accumulate $10,885, how much compound interest rate (rate of return) you earned on this investment ? QUESTION 4 You will deposit 12,025 at 10% simple interest rate for 9 years, and then move the amount you would receive to an investment account at 12 % compound rate for another 3 years. How much money would you have at the end of the entire period ?Show complete solution (please write eligibly) 1. Find the uniform annual amount that is equivalent to a uniform gradient series in which the first year’s payment is $500, the second year’s payment is $600, the third year’s payment is $700, and so on, and there are a total of 22 payments. The annual interest rate is 11%. Round answer to 2 decimal places. Use any of the following formula to solve the problem
- Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.URGENT! PLEASE WRITE LEGIBLE. Question Suppose we deposit $1500 into an account that pays a simple interest rate of0.5% each month. Find the amount of interest earned at the end of 3 years?2. My son's YouTube channel (ILYAD) is making around $1000 per year at the moment (assume payments at the end of each year). How much will he have in his RESP account 12 years from now if he keeps collecting money from YouTube? Let's assume his revenue remains the same for the next 4 years (starting today) then the revenue increases to $1500 per year, from year 4 to 8, and then it increases to $2000 per year for the remaining years. Consider 5% annual interest rate for this problem
- QUESTION 1 A student has inherited $5,000. If it is placed in a savings account that earns 4% interest, how much is in the account in 30 years? Assume that the unit for your answer is in $. Only state the numeric value of your calculation.Suppose you are considering working at a local coffee shop 5nights a week. You expect to save $125 a month from the jobafter meeting all your expenses. To be eligible for the job youmust undergo a week’s work training at the coffee shop.Assume the training costs you $100.Suppose you plan to workthe next 9 months there and you can borrow and lend moneyat an annual rate of 6% compounded monthly.What is the net present value of this work to you?person is planning for his retired life. He has 10 more years of service. He would like to deposit 20% of his salary, which is $ 4,000, at the end of the first year, and thereafter he wishes to deposit the amount with an annual increase of $ 500 for the next 9 years with an interest rate of 15%. Find the total amount at the end of the 10th year of the above series.