Question: FASTTT 3 3. John estimates that he will need $100,000 to send his daughter to college in eight years. Suppose his bank has an interest

FASTTT

3 3. John estimates that he will need $100,000 to send his daughter to college in eight years. Suppose his bank has an interest rate of 4%. How much does he need to save today in order to reach that goal? 99,680.58 67,683.94 75,991.78 73,069.02

3. John estimates that he will need $100,000 to send his daughter to college in eight years. Suppose his bank has an interest rate of 4%. How much does he need to save today in order to reach that goal? 99,680.58 67,683.94 75,991.78 73,069.02

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!

Ewing Oil has oil fields in San Diego and Los Angeles. The San Diego field can produce up to 500,000 barrels per day, and the Los Angeles field can produce up to 400,000 barrels per day. Oil is sent...

FAST 3. John estimates that he will need $100,000 to send his daughter to college in eight years. Suppose his bank has an interest rate of 4%. How much does he need to save today in order to reach...

Need Assistance with questions and how to use a financial calculator to solve the questions 1. Holding-Period Returns a. Last year Marla purchased 100 shares of stock for $ 8 per share. She paid a...

I need help on the 1065 partnership return. Its the one with Bilco Products. Thank you for whoever does. :) 2012 Edition Individuals', Corporation, Partnership, and Fiduciary Fact Patterns and Blank...

IM Me with price and any questions SIGNATURE PROJECT ACC432A June 2014 WARDENS' 2013 TAX RETURN CCH BOOKLET TITLED: 2014 Edition Individuals', Corporation, partnership, and Fiduciary Fact Patterns...

14. [-/4 Points] DETAILS HARMATHAP12 1.6.040. Complete the problem by using the accompanying gure, which shows a supply function and a demand function. (Assume price is measured in dollars.) p 40 30...

Suppose you deposited $250 al the end of 2011,2012, 2013 and 2014. How much would you have in your account on 1 January 2015, bused armal compounding of 8% by your bank? A. $1025.25 B. $1235.53 C....

i will update the price but first how can i cancel the the question thats already open, i don't want two tutors to do the same question. Tax Project #2 Summer 2015 Due: June 24, 2015 Required: You...

FORM 1040 U.S. INDIVIDUAL INCOME TAX RETURN Assume that the taxpayers, George A. Warden (social security number 333-33-3330) and Mary S. Warden (social security number 444-44-4440) file a joint...

FORM 1040 U.S. INDIVIDUAL INCOME TAX RETURN Assume that the taxpayers, George A. Warden (social security number 333-33-3330) and Mary S. Warden (social security number 444-44-4440) fi le a joint...

On January 1, 2021, Hodge, Shelton, Reid and Sims Co. began operations. The company manufacturers personal protective equipment for colleges and universities to address health concerns during the...

Write a production function equation that expresses the existence of diminishing marginal returns. How will this equation differ from one that shows both increasing and decreasing marginal returns?

The effectiveness of media materials depends entirely on its cost. Question 18Select one: a. False b. True

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...