Q 15 , 19

Section Two Basic Financial Planning Tools 14. Casey, injured in an automobile accident, won a judgment that provic 2.500 at the end of each 6-month period over the next 3 years. If ate of 10% required to pay account that holds Casey's settlement award earns an average ann comp ounded semiannually, how much was the defendant initially Casey to compensate him for his injuries? 15. Stacey wants to withdraw $3,000 at the be ginning of each year for the next 5 years. She expects to earn 8% compounded annually on her investment What lump sum should Stacey deposit today? 16. Gary wants to purchase a beach condo in 7 years for $100,000. What periodic 17, Ann purchased a car for $25,000. She is financing the auto at a 10% annual inte 18, Josh purchased a house for $215,000 with a down payment of 20%. What is the payment should he invest at the beginning of each quarter to attain the goal assuming an annual interest rate of 11 %, compounded quarterly? est rate, compounded monthly for 4 years. What payment is required at the end of each month to finance Ann's car? amount of his monthly payment assuming the balance is financed at 10% over 30 years? 19, Chase purchased a house for $300,000. He put 20% down and financed the remaining amount over 30 years at 8%. How much interest will he pay over the life of the loan assuming he pays the loan as agreed? (Round to the nearest dollar)