How much will he have to save every year if he starts saving

Assignment Help Finance Basics

Reference no: EM133368588

Question: Computing annuity payment: Kevin Winthrop is saving for an Australian vacation in three years. He estimates that he will need $5,000 to cover his airfare and all other expenses for a week-long holiday in Australia. If he can invest his money in an S&P 500 equity index fund that is expected to earn an average annual return of 10.3 percent over the next three years, how much will he have to save every year if he starts saving at the end of this year?

Reference no: EM133368588

Questions Cloud

What are the different things that needs to be considered : What are the different things that needs to be considered when developing appropriate options of managing deviations in budgets?

Explain what the agile methodology is : IT SYSTEMS Massachusetts Institute of Technology Explain what the Agile methodology is and what is its purpose in the development of applications or systems

What was columbian exchange : What was the Columbian Exchange? What were some of the items brought back to Europe from the New World?

Summary of your opinion of gold industry attractiveness : Current macroeconomic/stock environment and impact on the gold industry Summary of your opinion of gold industry attractiveness (ignoring valuation) - high,

How much will he have to save every year if he starts saving : Computing annuity payment: Kevin Winthrop is saving for an Australian vacation in three years. He estimates that he will need $5,000 to cover his airfare

Top of your host operating system : COMP 306 Centennial College You are requested to install VMWare and Windows server 2019 as a Virtual server on top of your host operating system considering

What would you expect the nominal rate of interest : Inflation and interest rates what would you expect the nominal rate of interest to be of the rate is 4.4 percent and the expected inflation rate

How does the d in abbreviation suggest that proteins : How does the "D" in the abbreviation suggest that proteins behave in contrast to the "standard" view of proteins?

What factors led to war in europe : What factors led to war in Europe? Describe the events that led the United States into World War I?

User Account

All Pages