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help with practice problem 8 You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is
help with practice problem 8
You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $29,800 at the end of each year for the next 10 years. You expect to earn 11 percent each year. Required: 1. Determine how much you will have saved after 10 years. 2. Determine the amount saved if you were able to deposit $32,700 each year. 3. Determine the amount saved if you deposit $29,800 each year, but with 13 percent interest. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided Complete this question by entering your answers in the tabs below. Determine how much you will have saved after 10 years. Note: Round your final answer to the nearest whole dollar. You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $29,800 at the end of each year for the next 10 years. You expect to earn 11 percent each year. Required: 1. Determine how much you will have saved after 10 years. 2. Determine the amount saved if you were able to deposit $32,700 each year. 3. Determine the amount saved if you deposit $29,800 each year, but with 13 percent interest. (Future Value of $1, Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1. ) Note: Use appropriate factor(s) from the tables provided Complete this question by entering your answers in the tabs below. Determine the amount saved if you were able to deposit $32,700 each year. Note: Round your final answer to the nearest whole dollar. You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $29,800 at the end of each year for the next 10 years. You expect to earn 11 percent each year. Required: 1. Determine how much you will have saved after 10 years. 2. Determine the amount saved if you were able to deposit $32,700 each year. 3. Determine the amount saved if you deposit $29,800 each year, but with 13 percent interest. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1 ) Note: Use appropriate factor(s) from the tables provided Complete this question by entering your answers in the tabs below. Determine the amount saved if you deposit $29,800 each year, but with 13 percent interest. Note: Round your final answer to the nearest whole dollar. TABLE 11.1A Future Value of $1 TABLE 11.2A Present Value of $1 TABLE 11.3A Future Value of an Annuity of $1 TABLE 11.4A Present Value of Annuity of $1 Step by Step Solution
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