Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ume e. All these conditions are true 29. If the price of your home now is $100,000 and if your home ap percent every year,

image text in transcribed
Ume e. All these conditions are true 29. If the price of your home now is $100,000 and if your home ap percent every year, how much een every year, how much your home worth 10 years from now? and if your home appreciates 5 30. If you plan to retire 40 years from now. co retire 40 years from now. How much you should invest at the end of each year with 12 percent interest rate in order to receive $2,000, 40 years from now? 31. You need to borrow $120,000 as a mortgage to buy a new home now. How much mortgage you have to pay at the end of each year for 30 years with a mortgage interest rate 4 percent? 32. If you invest a series of annuity (A) = $1,000 in a mutual fund with compound interest rate (0) = 9%. What is the amount of money you would receive (FV) from the bank after n = 10 years. (Use the Tables). 33. Suppose, you are 22 years old after graduation, you landed on a nice paid job earning net salary, after taxes and other deductions, of $24,000 and you are able to save $2,400 at the end of every year. If you invest these sears of equal amount at the end of each year over 10 year's period with interest rate of 12%, how much money do you get at the end of this period? 34. Janie Long has checking and saving accounts in a federally insured financial institution. The maximum amount of her insurance coverage is a $50,000 per account b. $250,000 c. $100,000 per account d. $200,000 e. $200,000 per account you could open checking and saving accounts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Make Money Teaching Online Courses

Authors: Andrew P.C.

1st Edition

1071003925, 978-1071003923

More Books

Students also viewed these Finance questions