Rupert is planning to invest $400.00 per month.  His goal is to have $1,200,000.  He will earn 11.0% on his investments.  How many months will it take to reach his goal?

Group of answer choices

367.12 months

 

412.81 months

 

315.66 months

 

245.72 months

 

 

Flag question: Question 22Question 221 pts

 

Jimmy wants to have $1,000,000 on the day he retires (34 years from now). He is planning on earning 10.0% from his investments. How much will he need to invest per month, in order to reach his goal?

Group of answer choices

$291.94

 

$25,563.16

 

$2,450,98

 

$112.75

 

 

Flag question: Question 23Question 231 pts

 

How much can you borrow if you are willing to make payments of $1,190.50 per month (at 6% annual rate) for 30 years?

Group of answer choices

$198,565

 

No solution. Cannot compute this.

 

$133,433

 

$150,000

 

 

Flag question: Question 24Question 241 pts

 

Dave wants to have $2,000,000 on the day he retires (37 years from now).  He is planning on earning 11.0% from his investments.  How much will he need to invest per month, in order to reach his goal?

Group of answer choices

$324.59

 

$475.24

 

$1,080.77

 

$2,400.00

 

 

Flag question: Question 25Question 251 pts

 

Your goal is to have $2,000,000. You have a total of $40,000 today. You invest the $40,000 and want to add to it each month. At 10% annual interest, how much do you need to invest each month in order to bring the total up to $2,000,000 30 years from now?

Group of answer choices

$266

 

$534

 

$612

 

$153

 

 

Flag question: Question 26Question 261 pts

 

You invest $455 per month for 36 years. You earn 10.25% (annual) over that time frame. What is the future value (FV)?

Group of answer choices

$2,046,686.00

 

$19,083.15

 

$196,560.00

 

$1,088,356.00

 

 

Flag question: Question 27Question 271 pts

 

Javier wants to have $50,000 for a house down payment five years from now.  Assuming he can earn 12.0% on his investments, how much does he need to save per month in order to meet his goal?

Group of answer choices

$612.22

 

$1,112.22

 

$833.33

 

$400.00

 

 

Flag question: Question 28Question 281 pts

 

The total population of ethnic Southeast Asian students (from Myanmar, Laos, Thailand, Vietnam, and Kampuchea) at your university is currently 100 students. The administration of the university wants to increase the diversity of the student body and decides to increase the number of students from Southeast Asia by 8 percent each year (over the prior year's enrollment) for a period of 15 years. How many students from Southeast Asia will be enrolled at your university after the 15 year period? (Please round your answer to the nearest "Whole Student," since the university is unlikely to admit only part of an individual student (such as an arm or a leg) without the rest of him coming along as well.)

Group of answer choices

317

 

547

 

1200

 

220

 

 

Flag question: Question 29Question 291 pts

 

Assume you will invest $100 per month in an investment earning 11% per year (assume monthly compounding). After 10 years, you stop making the monthly payment. The money you have accumulated after 10 years remains invested and continues to earn 11% (compounded annually) for an additional 20 years (with no further payments made). How much do you have at the end of the total 30 year period?

Group of answer choices

$174,951

 

$874,753

 

$969,440

 

$101,318

 

 

Flag question: Question 30Question 301 pts

 

If you invest $12,000 per year for 30 years at 10.00% (annual), what is the future value (FV)?

Group of answer choices

$1,973,928.27

 

$360,000.00

 

$2,078,378.12

 

$1,000,067.22

Answer rating: 100% (QA)

In order to answer the questions we need to use the formula for the future value of an ordinary annu... View the full answer