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1. Cash flow problems: a) Steve wants to have $2,000,000 in retirement funds in 30...

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Finance

1. Cash flow problems:

a) Steve wants to have $2,000,000 in retirement funds in 30 years. He anticipates an investment return of 8% per year. Calculate how much Steve needs to invest year year.

b) From Question "a", how much Steve will need to invest each year if he starts investing funds immediately.

c) Ms. Jun finances a car for $50,000. Her interest rate is 6% per year. Assuming she makes 5 yearly payments, calculate the amount of each year payment.

d) From Question "c", assume she makes her first of 5 yearly payments when she purchases the car. Calculate the amount of yearly payment.

e) From Question "c", calculate the amount of Ms. Jun's payments if she makes monthly payments.

Note: The problems are from one question. Please provide step-by-step answers and specify formula used to answer each problem.

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