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this is a 4 prt question For each of the following situations, identify (1) the case as either (a) a present or a future value

this is a 4 prt question
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image text in transcribed
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For each of the following situations, identify (1) the case as either (a) a present or a future value and (b) a singie amount or an annuity. (2) the table you would use in your computations (but do not solve the problem), and (3) the interest rate and time periods you would use. (PV of \$1. FV of \$1. PVA of \$1. and EVA of \$1) (Use appropriate factor(s) from the tables provided. Round "Table Factors" to 4 decimal places.) a. You need to accumulate $18,000 for a trip you wish to take in ten years. You aro able to earn 8% compounded semiannually on your savings. You plan to make only one deposit and let the money accumulate for ten years. How would you determine the amount of the one-time deposit? b. Assume the same facts as in part (a) except that you will make semiannual deposits to your savings account. What is the required amount of each semiannual deposit? 1. You want to retire after working 40 years with savings in excess of $1,000,000. You expect to 5 ave $3,900 a year for 40 years and earn an unnual rate of interest of 6%. c-2. Will you be able to retire with more than $1.000.000 in 40 years? d-1. A sweepstakes agency names you a grand prize winner You can take $220,000 immediately or elect to receive annual instaliments of $22,000 for 20 years. You can earn 6% annually on any investments you make. d.2. Which prize do you choose to recelve? You need to accumulate $18,000 for a trip you wish to take in ten years. You are able to eam 8% compounded semiannually on your simings. You plan to make only one deposit and let the money accumulate for ten years. How would you determine the amount of the one-time deposit? (Round your answer to 2 decimal places.) Complete this question by entering your answers in the tabs below. Assume the same facts as in part (a) except that you will make semiannual deposits to your savings account. What is the required amount of each semiannual deposit? (Round your answer to 2 decimal places.) Complete this question by entering your answers in the tabs below. You want to retire after working 40 years with savings in excess of 51,000,000. You expect to wive $3,900 a year for 40 years and earn an annual rate of interest of 6%. (Round your answer to 2 cecimit plocesiz) Complete this question by entering your answers in the tabs below. A sweepstakes agency numes you a grand prize winner. You can tike 5220,000 imrnediately or elect to receive annual installments of $22,000 for 20 years. You can earn 6% annually on any inwestments you make. (Round your answer to ? decimal places.)

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