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Result Using the appropriate time value tables, determine the value for each of the following independent situations points) A) A father opens a bank account
Result Using the appropriate time value tables, determine the value for each of the following independent situations points) A) A father opens a bank account the day his daughter is born, making an initial deposit of $3,000. Time value factor He deposits the same amount on his son's birthday every additional year for 11 more years. The account earns 4% interest. When his daughter turns Bat Mitzvah, what will be the balance in that account? B) Sam is retiring on 1/1 of this year. On that day, he wishes to deposit enough money into a trust that will earn 10% in order to withdraw $30,000 every 12/31 for the next 30 years. How much will he have to deposit the day he retires. C) Yitzchak and Rivkah received wedding gifts totaling $60,000 from their wealthy friends and relatives. The opted to deposit the money right after the wedding into a trust that compounds 10% interest semiannually over the next 10 years, at which time they wish to buy a house. How much money would be available in the trust at that time if everything follows according to plan? D) Professor H. is planning to build an extension to his house in 5 years, and he needs $20,000 to do this project. If he deposits into an investment that will earn him 8% interest compounded quarterly, how much money will he need to deposit
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