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Lucinda Diamanti is 10 years old today (August 15th) and while all she's interested in is her new bike, her parents Mr. & Mrs. Diamanti are considering how they will pay for her college education beginning in 8 years. They decide to set up a meeting with their financial adviser Cindy Morgan to discuss an education savings plan. During the meeting, the Diamanti's inform Cindy that they have $8,000 they can use to begin the savings plan, and from what they can determine, Lucinda will require 4 years to complete her undergraduate degree in molecular biology. Cindy consults a reputable college reference to see that tuition costs are currently estimated at $32,000 per year and are expected to grow at 4% each year for the foreseeable future. The Diamanti's are concerned that they won't have enough money and ask Cindy how to make sure they have enough to completely pay for Lucinda's undergraduate education. The Diamanti's inform Cindy that they want to make deposits into the education savings plan on an annual basis until Lucinda's first year in college at which point they will stop making contributions. Cindy tells them they can earn 8% annual interest on their savings plan. Your job to answer the following two questions (You may assume there are 8 years between today and the beginning of Lucinda's first day in college):
Assuming the estimates on tuition costs are correct, how much money needs to be in the account when Lucinda begins college in 8 years to fund 4 years of college? Round your answer to a whole number.
As an individual investor, you are attempting to invest in a well-diversified portfolio of mutual funds so that you will be somewhat insulated from any type of economic shock that may occur. Describe recommendation to buy four different U.S. growth s..
The correlation coefficient between the returns of A and B is -0.5. The risk-free rate of return is 5%. The proportion of the optimal risky portfolio that should be invested in stock A is _________. Note: Express your answers in strictly numerical..
Most of us intuitively understand that a dollar required today does not have the same value as a dollar needed (or utilized) in the future. This is due to several factors including interest rates, compounding factors, discounting factors and finan..
Suggest one (1) key way in which the role of ethics in managerial accounting differs from the role of ethics in financial accounting. Indicate the role that you believe is the most significant within a health care organization. Provide support for..
Describe variable costs and identify an example. Contrast the effects of changes in the activity level on the total variable costs and the variable cost per unit.
this is a comprehensive problem that provides a review of the material covered in the course to datenbspnbspsouthface
A lockbox plan is Answer used to protect cash, i.e., to keep it from being stolen. used to identify inventory safety stocks. used to slow down the collection of checks your firm writes. used to speed up the collection of checks received.
What is the WACC if Gallagher's total capital expenditure is expected to be $8.5 million?
Classifying inflows and outflows of cash Classify each of the following items as an inflow (I) or an outflow (O) of cash, or as neither (N).
a firm has a cost of equity of 13 percent cost of preferred stock of 11 percent and after tax cost of debt os 6
Establish an estimated growth rate in earnings & dividends for British Petroleum. Note, in the dividend growth model, "g" is growth rate for earnings & dividends.
A). What is the spread in percent? B). What are the total expenses for the issue? C). If Dixon Corp. needs to generate $28 million, how many shares will have to be sold?
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