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A father is trying to save for his daughter's wedding in two years. ( Long engagement! ) . He thinks he can make the following
A father is trying to save for his daughter's wedding in two years. Long engagement! He thinks he can make the following contributions to an account: $ today and $ in one year. The father thinks he can earn in the market each of the next two years. If the wedding is expected to cost $ two years from today, how much will he need to contribute at the time of the wedding to cover its cost?
Answer format: Currency: Round to: decimal places.
A relative has promised to pay you $ today, and he will pay you additfonal payments every year for the next five years. Each year he will add $ to the previous payment. So the payment in year will equal $ You decide to save every dollar you are given and will invest the money in an account paying annual interest. How much money will you have accumulated in five years? Keep in mind that you will have six total cash flows to invest.
Answer format: Currency: Round to: decimal places.
A student is trying to value an internship opportunity for the upcoming summer. The internship will last three months and pay her $ at the end of each month. She will also get a "signing" bonus at the beginning of the internship for $ If the student can invest this money in an account that pays APR with monthly compounding, what is the value of her account at the end of her internship?
Answer format: Currency: Round to: decimal places.
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