What is the value of the annual fixed deposit needed

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Reference no: EM131937038

Please submit vow full Excel spreadsheet with final answers highlighted. Prover formatting's also expected.

An investment firms offers Its customers a 30-year savings plan in an IRA account with the following terms:

• 7% interest for the first five years, 9% interest for the next 15 years, and 6% interest for the final ten years.

• The deposits in the plan are annual with the first deposit scheduled a year from today.

• The annual deposits are a fixed amount during the 30-year period.

• The balance of the account will be paid in full at the end of the 30-year plan.

Question I: If an investor saves $24,000 per year, what is the balance at the end of the 30-year plan?

Question 2: What is the value of the annual fixed deposit needed to secure $2,000,000 30 years finm now?

Question 3: Provide a 12 year mortgage amortization table of a $300,000 loan with an annual percentage rate of 3.875%. Also provide a graph illustration of this amortization table.

Question 4: Kate celebrates her 5 years birthday today. Her parents want to save for 4 years of her college expense, starting at age 18.

In other words, ember birthdays 18, 19, 20, 21, they plan to take out $30,000 to pay for the college tuition.

How much money her parents have to save each year on her birthday of age 5,6,7, ......to 17.

Assume the investment return is 5% per year. Also provide an education saving sinking fund chart.

Reference no: EM131937038

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