How much money will be in travel fund at end of year

Assignment Help Financial Management

Reference no: EM131926941

1. The Pirerras are planning to go to Europe 3 years from now and have agreed to set aside $190/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 6.5%/year compounded monthly, how much money will be in their travel fund at the end of the third year? (Round your answer to the nearest cent.)

2. A local moving service recently purchased a van by securing a loan with semiannual payments of $3500 per semiannual period for 8 years at 12% per year compounded semiannually. What was the purchase price of this van? (Round your answer to the nearest cent.)

Reference no: EM131926941

Questions Cloud

Calculate the GMROI for the Spring Season : Six Month Dollar Merchandising Plan Classification Assortment Buy Plan Operating Statement Calculations Conclusion.Calculate the GMROI for the Spring Season

What is the accumulated value at the time of liquidaton : At the end of 40 years the funds are liquidated. What is the accumulated value at the time of liquidaton?

Modified internal rate of return average accounting return : Internal rate of return Profitability index Net present value Modified internal rate of return Average accounting return.

How would you invest money-bonds and common stock : How would you invest the money? bonds, common stock, preferred stock, ETFs, mutual funds, etc? Explain.

How much money will be in travel fund at end of year : how much money will be in their travel fund at the end of the third year? What was the purchase price of this van?

Negative net present value : The discounted recovery period guarantees that all the projects we accept will never have a negative Net Present Value, although we may reject good project,

Explain difference between debt and equity : Explain the difference between debt and equity in your own words.

Breakfast hut pays constant annual dividend : Breakfast Hut pays a constant annual dividend of $4 per share. How much are you willing to pay for one share if you require a 10 percent rate of return?

Disadvantage to the investor of callable bond : Why are many bonds callable? What is the disadvantage to the investor of a callable bond?

User Account

All Pages