Approximately what percent of Americans do not understand the concept of Time Value of Money?

What annual rate must be earned to turn $50,000 into $250,000 in 15 years?

if you can save $10,000 per year for the next 25 years, what annual rate of return would you have to have to turn it into $847,009?

Alexis want to buy a house in 5 years. She wants to save $75,000 over the next five years for a down payment. If she can earn an annual rate of 9% on her savings, how much must she deposit in equal payments at the end of each month for the next five years to reach her goal?

Alexis is ready to buy her house. She will purchase the $450,000 house with her $75,000 down payment and finance the rest with a 20 year, 6% annual rate mortgage with equal end of month payments. What will be her monthly payment?

You have saved $120,000 for your child to attend college. If it is in an account earning an annual rate of 8%, how much can you take out in equal payments at the end of each of the next four years to pay for their education?

 

Answer rating: 100% (QA)

calculations for each of the scenarios 2 To turn 50000 into 250000 in 15 years Future Value Present ... View the full answer