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Use future or present value techniques to solve the following problems. Starting with $9,000, how much will you have in 18 years if you can
Use future or present value techniques to solve the following problems.
- Starting with $9,000, how much will you have in 18 years if you can earn 12 percent on your money? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor.
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Calculate your answer based on the financial calculator.$
If you can earn only 8 percent? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor.$
Calculate your answer based on the financial calculator.$
- If you inherited $40,000 today and invested all of it in a security that paid a 12 percent rate of return, how much would you have in 25 years? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor.
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Calculate your answer based on the financial calculator.$
- If the average new home costs $300,000 today, how much will it cost in 11 years if the price increases by 7 percent each year? Round the answer to the nearest cent. Round FV-factor to three decimal places. Calculate your answer based on the FV-factor.
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Calculate your answer based on the financial calculator.$
- You think that in 11 years it will cost $250,000 to provide your child a 4-year college education. Will you have enough if you take $78,000 today and invest it for the next 11 years at 6 percent? Round the answer to the nearest cent. Round FV-factor and FVA-factors to three decimal places. -Select-YesNoItem 9 , you will have approximately
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-Select-morelessItem 11 than your estimate of $250,000. If you start from scratch, how much will you have to save each year to have $250,000 in 11 years if you can earn a 6 percent rate of return on your investments? Calculate your answer based on the FVA-factor.$
Calculate your answer based on the financial calculator.$
- If you can earn 9 percent, how much will you have to save each year if you want to retire in 35 years with $1.8 million? Round the answer to the nearest cent. Round FVA-factor to three decimal places. Calculate your answer based on the FVA-factor.
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Calculate your answer based on the financial calculator.$
- You plan to have $600,000 in savings and investments when you retire at age 66. Assuming that you earn an average of 7 percent on this portfolio, what is the maximum annual withdrawal you can make over a 20-year period of retirement? Round the answer to the nearest cent. Round PVA-factor to three decimal places. Calculate your answer based on the PVA-factor.
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Calculate your answer based on the financial calculator.$
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