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Please help with parts a-d! 3. Present and Future Values. Megan Barry, a freshman horticulture major at the University of Minnesota, has some financial questions

Please help with parts a-d! image text in transcribed
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3. Present and Future Values. Megan Barry, a freshman horticulture major at the University of Minnesota, has some financial questions for the next three years of school and beyond. Answers to these question can be obtained using a financial calculator or online application (a) Jf Megan's tuition, fees, and expenditures for books this year total $22,000, what will they be during her senior year (three years from now), assuming costs rise 4 percent annually? IN 1/Y 14 PV -22,000 PMT 10 FV (compute) (b) Megan is applying for a scholarship currently valued at $5,000. If she is awarded it at the end of next year, how much is the scholarship worth in today's dollars, assuming inflation of 3 percent? N VY 3 PV (compute) PMT 10 5.000 FV 3 4 (c) Megan is already looking ahead to graduation and a job, and she wants to buy a new car not long after her graduation. If after graduation she begins an investment program of $2,400 per year in an investment yielding 4 percent, what will be the value of the fund after three years? N 1/ PV PMT -2.400 FV (compute) (d) Megan's Aunt Karroll told her that she would give Megan $1,000 at the end of each year for the next three years to help with her college expenses. Assuming an annual interest rate of 2 percent, what is the present value of that stream of payments? 0 N 3 1/Y 2 PV Icompute) PMT 1.000 FV 0

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