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help me please 18. Megan turns 30 years old today, She currently has $34,000 in her account. She must make monthly deposits of $ beginning
help me please
18. Megan turns 30 years old today, She currently has $34,000 in her account. She must make monthly deposits of $ beginning next month and ending on her 65th birthday ( 420 total deposits) in order to reach her retirement goal of making monthly withdrawals of $10,000 per month beginning one month after her 656h birthday and ending on her 90th birthday at which time she wants to have $1,100,000 remaining in her account. Assume a 7% p.a. interest rate. a. 675.04 b. 651.93 c. 661.63 d. 705.23 e. 662.26 19. In 2023, an NBA superstar signed a new contract. The contract has a "total value" of $109.32 million. According to the contract, the player will receive $30.57 million today (t=0);$38.15 million in 2024(t=1); and $40.60 million in 2025(t=2). Assume that the interest rate is 6.1% p.a., the present value of his new contract at year 2023(t=0) is $ a. 103.10 million b. 101.79 million c. 104.50 million d. 102.59 million e. 99.10 million 20. A young graduate has been offered a time-share on a condo in Steamboat Springs, Colorado. To be a part owner, the graduate must pay $1,621.00 at the end of each year for the next 19 years, with the first payment due exactly one year from today. If the graduate's discount rate is 8.40% p.a., then the graduate should be willing to pay $ today instead of making payments. a. 15,793.99 b. 15,129.43 c. 16,754.00 d. 16,505,62 e. 14,608.83 Step by Step Solution
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