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Finance HW. Please help. It is due in less than an hour. It's Finance... the attachment is below. I'm not sure why this has to
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Calculate your answer based on the FVA-factor.
a. Starting with $16,000, how much will you have in 20 years if you can earn 15 percent on your money? Round the answer to the nearest cent. Round FV-factor to three decimal places.If you can earn only 10 percent? Round the answer to the nearest cent. Round FV-factor to three decimal places.Calculate your answer based on the FV-factor. b. If you inherited $25,000 today and invested all of it in a security that paid a 12 percent rate of return, how much would you have in 30 years? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FVfactor. c. If the average new home costs $315,000 today, how much will it cost in 11 years if the price increases by 3 percent each year? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor.$ d. You think that in 8 years it will cost $240,000 to provide your child a 4-year college education. Will you have enough if you take $79,000 today and invest it for the next 8 years at 8 percent? Round the answer to the nearest cent. Round FV-factor and FVAfactors to three decimal places. approximately$ -Select-moreless -Select-YesNo , you will have than your estimate of $240,000. If you start from scratch, how much will you have to save each year to have $240,000 in 8 years if you can earn a 8 percent rate of return on your investments?Calculate your answer based on the FVA-factor.$ Calculate your answer based on the financial calculator.$ e. If you can earn 9 percent, how much will you have to save each year if you want to retire in 40 years with $1 million? Round the answer to the nearest cent. Round FVA-factor to three decimal places. Calculate your answer based on the FVA-factor.$ Calculate your answer based on the financial calculator.$ f. You plan to have $900,000 in savings and investments when you retire at age 64. Assuming that you earn an average of 7 percent on this portfolio, what is the maximum annual withdrawal you can make over a 20-year period of retirement? Round the answer to the nearest cent. Round PVA-factor to three decimal places. Calculate your answer based on the FVA-factor.$ Calculate your answer based on the financial calculator.$ Continue without savingStep by Step Solution
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