1. You want to be a millionaire when you retire in 35 years.
How much do you have to save each month if you can earn an 11.5 percent annual return? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Savings per month
$
How much do you have to save each month if you wait 15 years before you begin your deposits? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Savings per month
$
How much do you have to save each month if you wait 25 years before you begin your deposits? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Savings per month
$
2.
Toadies, Inc., has identified an investment project with the following cash flows.
Year
Cash Flow
1
$
1,575
2
1,695
3
1,780
4
1,830
If the discount rate is 7 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Future value
$
If the discount rate is 12 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Future value
$
If the discount rate is 23 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Future value
$
| 1. You want to be a millionaire when you retire in 35 years. |
| How much do you have to save each month if you can earn an 11.5 percent annual return? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Savings per month | $ |
| How much do you have to save each month if you wait 15 years before you begin your deposits? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Savings per month | $ |
| How much do you have to save each month if you wait 25 years before you begin your deposits? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Savings per month | $ |
2.
| Toadies, Inc., has identified an investment project with the following cash flows. |
| Year | Cash Flow | |||||
| 1 | $ | 1,575 | ||||
| 2 | 1,695 | |||||
| 3 | 1,780 | |||||
| 4 | 1,830 | |||||
| If the discount rate is 7 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
| If the discount rate is 12 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
| If the discount rate is 23 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
|
|
Related questions
5.
| Toadies, Inc., has identified an investment project with the following cash flows. |
| Year | Cash Flow | ||||||||||||||
| 1 | $ | 1,575 | |||||||||||||
| 2 | 1,695 | ||||||||||||||
| 3 | 1,780 | ||||||||||||||
| 4 | 1,830 | ||||||||||||||
| |||||||||||||||
6.
| You want to buy a new sports coupe for $88,500, and the finance office at the dealership has quoted you a 7.0 percent APR loan for 72 months to buy the car. |
| What will your monthly payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Monthly payment | $ |
| What is the effective annual rate on this loan? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Effective annual rate | % |
7.
| You |
| If you deposit $6,100 at the end of each of the next 15 years into an account paying 11.30 percent interest, how much money will you have in the account in 15 years? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
| How much will you have if you make deposits for 30 years? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
| Gold Door Credit Bank is offering 6.9 percent compounded daily on its savings accounts. You deposit $5,300 today. |
| How much will you have in the account in 4 years? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
| How much will you have in the account in 12 years? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
| How much will you have in the account in 19 years? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Future value | $ |
