I want you to take a moment and calculate how much you spend on buying food...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
I want you to take a moment and calculate how much you spend on buying food that is unhealthy, or if you can get a Project: Do you think you could save about half a million dollars by not frequently visiting a coffee shop healthier or cheaper version by making it at home. Suppose you could save $4 to $5 a day by not going to a coffee shop, bar, or fast-food restaurant, which adds up $30 a week or approximately $120 a month. You deposit $120 into an S&P 500 index fund, which, on average, will give you about a 6% interest. Use the following formula to calculate how much money you will have in 50 years. PX ((1+/-)nt-1) A = A is the future value of the investment, P is the monthly payment amount, r is the monthly interest rate (expressed as a decimal) n is the number of payments per year, t is number of years. 18/6/1220005 I want you to take a moment and calculate how much you spend on buying food that is unhealthy, or if you can get a Project: Do you think you could save about half a million dollars by not frequently visiting a coffee shop healthier or cheaper version by making it at home. Suppose you could save $4 to $5 a day by not going to a coffee shop, bar, or fast-food restaurant, which adds up $30 a week or approximately $120 a month. You deposit $120 into an S&P 500 index fund, which, on average, will give you about a 6% interest. Use the following formula to calculate how much money you will have in 50 years. PX ((1+/-)nt-1) A = A is the future value of the investment, P is the monthly payment amount, r is the monthly interest rate (expressed as a decimal) n is the number of payments per year, t is number of years. 18/6/1220005
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
Describe what is meant by the supply chain. (1marks) 2. Using examples from the case study, analyse how Nestle's Creating Shared Value contributes to its corporate social responsibility activities....
-
Walter Industries has $5 billion in sales and $1.7 billion in fixed assets. Currently, the companys fixed assets are operating at 90% of capacity. a. What level of sales could Walter Industries have...
-
a. Identify the types of audit procedures that may be used to obtain and evaluate evidence. b. State two factors that should be considered in selecting the procedures to be used to obtain evidence...
-
Gina Limke runs a small company, called Limke Construction Company. In the past, Ginas various site managers have each purchased construction materials for their jobs. She thinks that if she...
-
Kerri Bates is reviewing his companys investment in a cement plant. The company paid $15,000,000 five years ago to acquire the plant. Now top management is considering an opportunity to sell it. The...
-
. . . . ( GAAP ) ( ) . , / . , , . )
-
Gulliver Markets In early January 2019, Rini Das was going over the numbers one last time in preparation for a board of directors meeting at Gulliver Markets Ltd, the supermarket chain which she had...
-
Jimmy, a fund manager with BMT Money Wiz, was managing a portfolio of Singapore stocks that tracks closely to the Straits Times Index (STI). His portfolio was $10,000,000 and his portfolio beta is...
-
Evaluate the role of quorum sensing in microbial communication and social behavior, elucidating how bacteria coordinate population-wide gene expression in response to changes in cell density and...
-
W hat each of the three variances in reference material 1 mean and possible reasons for their occurrence , with the inconclusion of overall performance of prestige cars.
-
In a skeleton timed race, only a little advantage is gained by getting a running start. (This is because the initial kinetic energy is small compared with the gain in gravitational potential energy...
-
Was President Johnson's approach to enacting the Civil Rights Act diminished by political expediency, or was there an intrinsic catalyst that prioritized the public's interest in alignment with his...
-
1. a) A fair die is thrown 25 times. What is the probability of getting at least 8 "fives?" b) The Medassist Pharmaceutical Company receives large shipments of aspirin tablets and uses this...
-
The swap spread is the difference between the swap rate and the equivalent-maturity Treasury bond yield. Explain why a widening swap spread may be a signal of deteriorating economic conditions. Plot...
-
When bonds are retired or repaid at their due date, there generally will be a. a gain. b. a loss. c. accrued interest. d. no gain or loss.
-
If the market rate had been 8% at the time of issuance, a. the bonds would have been issued at a premium. b. the bonds would have been issued at a discount. c. the bonds would have been issued at...
-
When a bond is issued at a discount, the interest expense each year a. is greater than the cash payment for interest. b. is less than the cash payment for interest. c. equals the cash payment for...
Study smarter with the SolutionInn App