FIN
571 Week 2 Individual Homework
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Week 2 Homework & Solutions
Week 2 Individual Homework Submit
Through Gradebook In Excel
1-
Your daughter would like to attend college in 5 years. You have
determined that if you have $60,000 when she begins college you will be
able to pay for her 4 year degree. You have opportunity to invest at
12%. How much must you put away in equal annual payments in order to
achieve your goal of $60,000 in 5 years?
2-
Assuming you have opportunity to invest at 15 percent, which would you prefer,
$12,000 today or $27,000 in 5 years?
3-
Beginning in 6 years you will receive $12,000 a year for 4 years from a
trust. You plan to retire in 15 years. How much will you have at
that time from the income of this trust if you have opportunity to invest at
8%?
4-
Assuming your interest is compounded monthly, how much will $5,000 grow to in 5
years at an interest rate of 10%?
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