1. Millet wants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She would like the fund to be available by the time her daughter is 20. She decides on an investment that pays 10% compounded quarterly. How large must the deposit be?

Q: Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos…

A: Quarterly payment (Q) = 15000 pesos n = 25 years = 100 quarters Interest rate = 10.5%

Q: Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 5…

A: Compound interest is a type of interest that includes the initial principal as well as all the…

Q: Tom and Sandy have set up a sinking fund in order to have $18,000.00 in 4 years for their child's…

A: Money to accumulate in Sinking Fund= $18,000.00 Time period= 4 years Interest rate= 6.84% compounded…

Q: At two years of age, Deja was given $700,000. The amount is put into a trust earning 5% monthly. If…

A: In finance, a trust is considered as an arrangement between a third party, a trustee, and the…

Q: A newborn child receives a $9,000 gift toward a college education from her grandparents. How much…

A: As per the given information: Principal amount or amount of money deposited (P) - $9,000 Time period…

Q: A professor has two daughters that he hopes will one day go to college. Currently, in-state students…

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A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Will and Jane Sparks are establishing a college fund for their 1-year-old daughter, Jennifer. They…

A: The question gives the following information:

Q: 1. Abbigail wish to establish a trust fund from which her daughter can withdraw $6,000 every six…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: Jia has just won a $20 million lottery, which will pay her $1 million at the end of each year for 20…

A: The value which shows the equivalent worth of payment that is expected to be realized in future by…

Q: Meredith, who is single, would like to contribute $6,000 annually to her Roth IRA. Her AGI is…

A: The following calculations are done in the records of Meredith who is single and is filing…

Q: Sherry is a 25-year-old who just started working. At age 25 she received, she received $20 000 from…

A: Monthly Payment = $140 Interest Rate = 4.5% Time Period = 15 Years

Q: Meredith, who is single, would like to contribute $6,000 annually to her Roth IRA. Her AGI is…

A: Roth IRA is a scheme for contribution into retirement account by the citizens of the United States…

Q: Arthur wishes to have 80,000 in her bank account. How much suould she deposit in a bank account that…

A: the answer with complete calculation are as follows

Q: Millet wants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Given, Amount required is P200,000 Rate 10% compounded quarterly.

Q: Millet wants to provide a ₱200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: The present value is the discounted amount of the annuities deposited or received and the redemption…

Q: Will and Jane Sparks are establishing a college fund for their 1-year-old daughter, Jennifer. They…

A: As per the given information: Amount = $40,000Annualized rate of return (r) = 8%No. of years (n) =…

Q: A newborn child receives a $7,000 gift toward a college education from her grandparents. How much…

A: Inerest rate (decimal form) = Interest rate100=5%100=0.05   Quarterly interest rate (decimal form)…

Q: Jia has just won a $20 million lottery, which will pay her $1 million at the end of each year for 20…

A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…

Q: A recent college graduate's gift from her grandparents is $24,000. How much will this provide at the…

A: Compound interest formula: A=P1+rnnt A = Accumulated amount at the end P = Principalr = Nominal…

Q: Mr. and Mrs. Maglalang decide to set aside ₱ 500,000 today and place it on a bank savings account…

A: Assuming college debut happens in 18th year, Duration of the fund (n) = 18 years = 72 quarters r =…

Q: A couple wants to begin saving money for their daughter's education. $16,000 will be needed on the…

A: The present value of the annuity is the current worth of a series of cash flows at a certain rate of…

Q: Kate deposits P5,000 to her bank account every year when she was in highschool for four years to…

A: Future worth is computed by multiplying the existing value with a given interest rate.

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A: There is need of planning for savings for the education of the children so that they can study…

Q: For her​ daughter's education, Georgina Harcourt has invested an inheritance in a fund paying 3.8​%…

A: Present Value of annuity refers to the value of regular payments of equal amounts at a specified…

Q: ) Gabrielle needs $200,000 in eight years. She has set up a sinking fund that earns 5% compounded…

A: Future Value is $200,000 Time period is 8 years Interest rate compounded monthly is 5% To Find:…

Q: Will and Jane Sparks are establishing a college fund for their 1-year-old daughter, Jennifer. They…

A: Introduction Sinking Fund A sinking fund is an account earning compound interest into which you make…

Q: A couple plans to save for their child's college education. What principal must be deposited by the…

A: Here, we need to calculate the present value which needs to be deposited or kept aside by the couple…

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A: Present Value of annuity refers to the current value of a series of equal cash flows or payments at…

Q: . If Jennifer contributes $500 every quarter into her superannuation fund for the next 45 years, how…

A:

Q: Having received a large inheritance, Jing-mei's parents wish to establish a trust for her college…

A: Future Value =$120,000 N = 7

Q: Millet wants to provide a 200,000 graduation gift for her daughter mae is now 16 years old. She…

A: We'll use compound interest formula to determine the amount of deposit (principal amount): A=P1+rnnt…

Q: For her daughter's university education, Carla Hackl has invested an inheritance in fund paying 9.2%…

A: The present value is the present worth of the amount that will be paid or received in the future.

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A: Cash flow diagram is the diagram which indicates the flow of cash. It indicates the outflows as well…

Q: Parvati wants to donate enough money to Camosun College to fund an ongoing annual bursary of $2,250…

A: We need to find present value of future donation by using this equation. Present value =FV(1+r)n…

Q: Millet wants to provide a P200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Present value = Future value/(1 + r)n Present value = Amount needed to be deposited Future value =…

Q: What principal must be deposited

A: Compound interest is the amount of interest that is added with the principal amount of deposit or…

Q: Ann was given a gift of $10,000 by her grandparents. She has a choice between 2 accounts to invest…

A: Option 1- Present value of gift (PV)= $10,000 Interest rate (r)= 2.35% compounded monthly= 0.001958…

Q: ) Mr. and Mrs. Lacks want to collect money for college expenses in a bank at 9% interest rate…

A: The concept of compounding is used to calculate loan payment or deposit amount. It is a concept of…

Q: 0. Tammy is saving up money for an emergeney fund. She hopes to have 4 months' worth of income…

A: The PMT function or formula can be used to determine the amount of monthly payments to accumulate a…

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A: Annuity means where regular payment is made at the end of regular period and full amount with…

Q: A family want to have a $241,000.00 higher education fund for their children at the end of 22 years.…

A: The calculation is:

Q: 1) millet wants to provide a ₱200,000 graduation gift for her daughter mae who is now 16 years old.…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: A father wants to set aside money for his 5-year old son's future college education. Money can be…

A: Present Value  The present value is the value of cash flow stream or the fixed lump sum amount at…