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Please us TI-84 calculator and include I%=N=PMT= PV= FV= and what are we solving for. Thank you. f. You need $120,000 eight years from now
Please us TI-84 calculator and include
I%=N=PMT= PV= FV= and what are we solving for. Thank you.
f. You need $120,000 eight years from now and you plan to deposit $9,000 per year into an account at the END of each year for eight years. At what annual compound interest rate must this account grow in order for you to reach the goal of $120,000? g. You bought a new car for $25,000 and signed a 6% note to pay off the car loan with MONTHLY payments over the next 4 years. How much will your monthly payments be assuming the payments are made at the BEGINNING of each MONTH? h. Your grandfather is about to retire. He estimates he will need to withdraw $60,000 per year at the beginning of each year to take care of his personal needs and wants to be able to leave $200,000 for you when he passes away. He estimates he will live for 30 years after retirement. His retirement account earns 7.5% compounded annually. How much should he have in his account when he retires in order to meet these goals? i. You plan to put $5,000 into a Roth Individual Retirement Account (IRA) at the END of each year for the next 30 years. Assuming your IRA earns 5.5% interest compounded annually, how much will be in your account at the end of 30 years? j. You bought a new computer system for your company for $130,000 and agreed to make QUARTERLY payments of $6,000 at the END of each QUARTER. Assuming the computer company is charging you 8% interest compounded QUARTERLY, how many payments will you have to make in order to pay off the computer systemStep by Step Solution
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