Question
1. I will invest $164per month. If the rate is 8.02%,how much will you have in 19 years? 2. I would like to have $38339
1. I will invest $164per month. If the rate is 8.02%,how much will you have in 19 years?
2. I would like to have $38339 in 7 years. If the rate is 8.33%,how much do you have to invest each year?
3. You would like to have $49402 in 16 years. If the rate is 9.07%,how much do you invest monthly?
4. Your grandfather has an annuity that is worth $89764 today. It will give him monthly payments for 21 years. If the rate is 4.04%, what will be his monthly payment?
5. Your mother has an annuity that will give her monthly payments for 6 years. She tell you it is worth $134859 today. If her required return is 11.04%, what is the monthly payment?
Please answer however many you can answer, If you can double-check your solution to ensure everything is right
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