Question

0.55 QUESTION 3 DeMarcus wants to retire with simillion in savings by the time he turns 60. He is currently 18 years old. How much will he need to save each year, assuming he can get a 11% annual return on his investments? O A 1392 78 8. 1.388.92 C. 1.390.86 QUESTION 4 How much will be in an account at the end of five years the amount deposited today is $10,000 and interest is 8% per year, compounded semi-annually? OA. $14,693 28 56 805 83 514 802.44 0 $14.702 36 QUESTIONS You have $3,000 that you may need any day to replace the furnace in your house Which of the following would be the best place to put the 53.0002 A. A common stock mutual fund earning 9% B. A savings account earning 2% A one-year CD earning 4% Shares of stock in a high-tech company that could double in 6 months

Answer 1

Question 3:-

=PMT(rate,nper,pv,fv)

=PMT(11%,60-18,,1000000)

=1390.86

Question 4:-

=FV(rate,nper,pmt,pv)

=FV(8%/2,5*2,,-10000)

=14802.44

Question 5:-

B. A savings account earning 2%, because if he invests in any other options he might not be able to withdraw the money immediately for repairs.