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- 2. how long will it take in years for sarah to save $10,000 by depositing $300 every six months into her account at 4.5% compounded semi-annually?4. You wish to purchase a house that costs $294,000, and the bank requires you to have 12% of the purchase price as a down payment. Your annual salary is $44,000 and you can save 18% of this salary every year. How long will it take for you to save for the required down payment? about _____ years?Mrs. Euclid wants to have Php246,916.30 , within 3 years for her daughter's graduation. How much should she set aside at the end of each month for placement in a bank if the bank pays 9% compounded monthly? O Php8,000.00 O Php4,000.00 O Php6,000.00 O Php10,000.00
- Leonard wants to have $400,000 in his RRSP when he retires in 31 years. How much must he deposit at the end of each month into the RRSP in order to reach his goal? Assume that he can earn j12=4.8% on his money. Your Answer: AnswerTak wants to save $10 000 for a vacation. He deposits $150 at the end of each month for 4.5 years in an account that earns 8.7% per year compounded monthly. Will Tak have enough money saved at the end of 4.5 years? Why? Paragraph В I U + vH5. Mary has $55,000 in a brokerage account, and she plans to deposit an additional $8,500 at the end of every future year until her account totals $300,000. She expects to earn 15% annually on the account. How many years will it take to reach her goal
- 8. An amount of P 250,000 is deposited now into a savings account that earns 8% per year. This amount will take care for the yearly allotment of a grandmother until shedies. The first allotment will be one year after the deposit is made. How much can thegrandmother withdraw every year?2.63. Louis Trichardt would like to save $15,000 to use as a down payment on a house. He will deposit $500 a month in a savings account that pays interest at the rate of 6% per year, compounded monthly. How long will it take him to accomplish his objective?I need this ASAP Mrs. Reyes decided to save money for her grandchild. She deposit Php 400 each month into an account earning 3% interest compounded quarterly. a) How much will you have in the account in 30 years? Round off your answer in two decimal places
- 1. In order to save $57,000 in five years, John will start saving money next month. He already has $10,000 in his account. The account is paying him 0.1 percent interest per month. In order to have $57,000 in five years, how much will he have to deposit into that account each month? (Show work)A young engineer wants to provide his newly born daughter a lump sum of P 2.0M when she graduates college at the end of 21 years. To achieve this he deposits at the end of every month a certain amount in a fund that earns 12% compounded monthly. How much is the monthly deposit?6. If you desire to have $80,000 for a down payment for a house in 7 years, what amount would you need to deposit each year for these 7 years? Assume that your money will earn 10 percent per year. 7. Kate deposits $9,900 each yearinto her retirement account. If these funds have an average earning of 11 percent over the 40 years until her retirement, what will be the value of her retirement account?