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Use future or present value techniques to solve the following problems. a. If you inherited $30,000 today and invested all of it in a security
Use future or present value techniques to solve the following problems. a. If you inherited $30,000 today and invested all of it in a security that paid a 9 percent rate of return, how much would you have in 15 years? 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 $ b. If the average new home costs $215,000 today, how much will it cost in 15 years if the price increases by 5 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. $ Calculate your answer based on the financial calculator $ C. You forecast that in 11 years it will cost $236,000 to provide your child a 4-year college education. Will you have enough if you take $80,000 today and investit 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 B. you will have approximately $ -Select than your estimate of $236,000. d. If you can earn 3 percent, how much will you have to save each year if you want to retire in 35 years with $2 millon? Round the answer to the nearest cent. Calculate your answer based on the FVA-factor $ Calculate your answer based on the financial calculator. $
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