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can somebody break this down for me? I don't get how you get future value of annuity factor. 1 Homework Saved A. Jamie Lee needs
can somebody break this down for me? I don't get how you get future value of annuity factor. 1 Homework Saved A. Jamie Lee needs to save a total of $9,000 in order to get started in her cupcake caf venture. She is presently depositing $1.800 a year in a regular savings account. Calculate the future value of these deposits. B. Assuming that she leaves her emergency fund of $1,800 untouched, how much will her emergency fund be worth? C. What if Jamie Lee had a relative that could give her money now that she could invest? What is the minimum amount she would need now to ensure that she had $9,000 when she wanted to open the cupcake cafe? D. As Jamie Lee is planning ahead for operating the cupcake caf, she calculates that she will need $30,000 per year in salary. What is the value of five years of salary when the cupcake caf opens? (Assume that she will take the salary as a one-time payment each year.) Use the table below and Exhibit 1A. Exhibit 1-8. Exhibit 1.C. and Exhibit 1-D to calculate the balances of the information provided above, Assume that the time period for each scenario is 5 years, and the interest rate is 3%. A. Future Value of a Series of Deposits Current amount $ 1,800.00 times equals Future value of annuity factor 5 2040 Future value amount $ 9,367 20 B. Future Value of a Single Amount Regular deposit amount 1,800.00 times Future value factor equals Future value amount $ 1,800.00 1 0000 C. Present Value of a Single Amount Future amount desired times Present value factor equals Present value amount S O DO SA Prev 1 of 1 Next
can somebody break this down for me? I don't get how you get future value of annuity factor.
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