Question: Alsha needs $10,000 in 5 years. How much does she need to deposit today into an account eaming 2% a year in order to reach

Alsha needs $10,000 in 5 years. How much does she need to deposit today into an account eaming 2% a year in order to reach her goal? (Enter the amount as positive, cven if calculator gives you a negative number)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Use the attached present and future value tables to answer the following questions: a) Tom needs to have $20,000 in his investment account in 7 years. If his account earns 6% interest per year, how...

Aisha needs $10,000 in 5 years. How much does she need to deposit today into an account earning 2% a year in order to reach her goal? (Enter the amount POSITIVE, even if the calculator gives you a...

1 You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer...

Annuities 1. You would like to have $650,000 when you retire in 30 years. How much should you invest each quarter if you can earn a rate of 2.3% compounded quarterly? a) How much should you deposit...

Help Save NIN 1 1.03000 0.97087 2 1.86090 0.94260 3 1.09273 0.91514 4 1.12551 0.88849 5 1.15927 0.86261 6 1.19405 0.83748 7 1.22987 0.81309 8 1.26677 0.78941 9 1.38477 0.76642 10 1.34392 0.74409 11...

Lynne needs to borrow $9500 for cosmetic surgery. She obtains a loan from her grandmother for 18 months at a simple interest rate of 5.2%. What is the loans future value?How much should be invested...

Car, Home, Retirement: Whats My Plan? Looking at her schedule, Jocelyn realized that she only had a few hours before her first meeting with her financial advisor. She had started her first job in...

1. Millicent is planning to travel to the United States of America in 3 years time. She estimated that her vacation would cost $1,236,000. Given the existing interest rate of 6%, how much money...

Finish Problems #3, #4, #6, and #8 for chapters 1. Make sure to write down the equations and it should be able to be written in google docs. CHAPTER 1 . FINANCIAL ECONOMICS 21 3. How are the...

Ashley's son Tyler has expressed an interest in attending a community college. He has three years of high school left after which he will attend a two-year program at the community college located in...

On January 1, 2022 Tommy (T) and Ronnie (R) formed Phillee Corporation (P Corp), a company devoted to making products for giveaways at Phillies baseball games. T transfers inventory (basis of $60,000...

We are given a finite-length sequence x[n] of length 627 (i.e., x [n] = 0 for n 626), and we have available an FFT program that will compute the DFT of a sequence of any length N = 2 v . For the...

Avoidant behaviors include which of the following?Select oneA. Delaying saving for retirement and putting off estate planning.B . Living beyond their means and keeping up with the Joneses.C ....

Questions Q1. Write a Python program to retrieve the first and last colors from the following list: color_list = ["red", "green", "white", "blue", "black") Q2. Given the following dictionary,...

Who will manage the project and liaise with the external providers?

How will we measure their success and effectiveness?

What else could they be contributing to the organization?