Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) PV$1 FV$1 3 8% 0.79383...

   

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Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) PV$1 FV$1 3 8% 0.79383 1.25971 5 4% 0.82193 1.21665 60 0.33% 0.81900 1.22100 54.29907 66.2990 PVA FVA 2.57710 3.2464 4.45182 5.4163 1. You want to have $33,500 at the end of 5 years to buy a new car. How much should you save each month to achieve your goal if you can earn 4%? $_ 2. You want to buy a $33,500 car today and will be making monthly payments for the next 5 years. What is your car payment if your borrowing rate is 4%? $ 3. You accepted a job offer with a local company that has offered to give you a $5,000 signing bonus today or a $6,500 bonus in 3 years (guaranteed). Your current investment rate is 8%. What is the best economic decision, take the bonus today or wait 3 years? 4. You plan to invest $1,000 every year for the next 5 years. What will be the value of your investment at the end of the 5 years if you can earn 4% annual interest? $ 5. Your grandparents have decided to give you $10,000 for school but they want to wait 3 years to give it to you. Assuming your grandparents are earning 8% annually, how much do they need to invest so that have the $10,000 to give you in 3 years? $_ Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) PV$1 FV$1 3 8% 0.79383 1.25971 5 4% 0.82193 1.21665 60 0.33% 0.81900 1.22100 54.29907 66.2990 PVA FVA 2.57710 3.2464 4.45182 5.4163 1. You want to have $33,500 at the end of 5 years to buy a new car. How much should you save each month to achieve your goal if you can earn 4%? $_ 2. You want to buy a $33,500 car today and will be making monthly payments for the next 5 years. What is your car payment if your borrowing rate is 4%? $ 3. You accepted a job offer with a local company that has offered to give you a $5,000 signing bonus today or a $6,500 bonus in 3 years (guaranteed). Your current investment rate is 8%. What is the best economic decision, take the bonus today or wait 3 years? 4. You plan to invest $1,000 every year for the next 5 years. What will be the value of your investment at the end of the 5 years if you can earn 4% annual interest? $ 5. Your grandparents have decided to give you $10,000 for school but they want to wait 3 years to give it to you. Assuming your grandparents are earning 8% annually, how much do they need to invest so that have the $10,000 to give you in 3 years? $_

Answer rating: 100% (QA)

1 You want to have 33500 at the end of 5 years to buy a new car How much should you save each month to achieve your goal if you can earn 4 Answer 5693... View the full answer