Question
How do i solve with financial calculator 1.Calculate the number of years it will take for X to save $50,000 assuming she can invest $1250
How do i solve with financial calculator
1.Calculate the number of years it will take for X to save $50,000 assuming she can invest $1250 annually as an annuity due. The market interest rate is 8%.
2. Calculate the present value of an annuity which pays 400 every year for the next seven years, if the interest rate is 4%.
3. You recently landed a job which pays you well. You have since decided to buy your dream car which will cost you $94,000 seven years from today. After budgeting your expenses, you decide that you can save $9,000 per year at the end of each year. Given a market interest rate of 13%, will you be able to purchase your car at the end of year 7?
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