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Question: please full calculation and explanation...

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FUTURE VALUE PROBLEMS he Be year of nevolent Company has agreed to lend you funds to complete the last your degree. The Company will lend you $2,400 today, if you agree to y a lump sum of $4,000 4 years from now. What is the approximate annual rate of interest that Benevolent is charging you? You discover $40,000 under your pillow, which can be invested at a rate of 8% 2. per year, compounded semi-annually. If you spend $11,435 per year, how long will the money last? What amount would you have in a retirement account if you made monthly deposits of $1000 for 20 years earning 9%, compounded quarterly? 3. PRESENT VALUE PROBLEMS 1. Your parents have promised to give you a graduation present of $5,000 when you graduate in four years time. If interest rates stay at 6% compounded annually for the next four years, how much is this money worth in todays dollars? 4 6 2. To have $6,000 for a childs education in 10 years what amount should a parent deposit in a savings account now that earns 12%, compounded quarterly? CIN

Please full calculation and explanation.

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