Question 1)

Your company wants to save $255,000 to buy new equipment 69 months from now. The plan is to set aside an equal amount of money on the first day of each quarter starting today. The company can earn 8.50% annually. How much does the company have to save each quarter to achieve the goal? $8,171 $8,386 $8,601 x ( $8,816 $9,031Your company would like to buy some additional land and build a new assisted living centre. The anticipated total cost is $12.20 million. You are quite conservative and will only do this when the company has sufficient funds to pay cash for the entire project. The company has decided to save $215,000 a month for this purpose, starting one month from today. The saving account earns 7.00% compounded semi-annually. How many years does the company have to wait before expanding its operations?In order to help you through university, your parents just deposited $14,400 into a bank account earning 5.50% compounded monthly. Starting tomorrow, you plan to withdraw equal amounts from the account at the beginning of each of the next 4 years. What is the HIGHEST amount you can withdraw annually