Please show how to solve in simplest way with work, if needed excel is acceptable: [ multi part question]
You are considering an investment that pays an annual rate of 11.15% compounded monthly. If you invest $1,200 at the end of each month, how many months will it take for your account to grow to $120,000? a.) 49 months b.) 55 months c.) 83 months d.) 68 months e.) 71 months
Please show how to solve in simplest way with work, if needed excel is acceptable:
Suppose you inherited $250,000 and invested it at 6.25% compounded annually. How much could you withdraw at the end of each of the next 15 years?
a.) $16,667b.) $22,024c.) $19,258d.) $26,163e.) $28,361
Please show how to solve in simplest way with work, if needed excel is acceptable:
Amy is planning for her daughters college education to begin 7 years from today. She estimates the annual living expenses to be roughly $9.00 per year for a four year degree. How much must Amy deposit today, at an interest rate of 9% for her daughter to be able to withdraw $9,000 per year for four years of living expenses? Assume the first payment occurs on the first day of college.
a.) $26,853b.) $23,747c.) $29,157d.) $17,386e.) $19.549
Please show how to solve in simplest way with work, if needed excel is acceptable:
You need to borrow $46,000 to purchase a new truck. The current loan rate is 4.9% compounded monthly. You decide that you want to pay the loan off in equal monthly payments over 5 years. What is the size of your monthly payment?
a.)$ 685.26b.) $865.97c.) $701.37d.) $442.93e.) $533.99
