How much will you have at the end of the five years

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Your grandfather has agreed to deposit a certain amount of money each year into an account paying 7.75 percent annually to help you go to graduate school. Starting next year, and for the following four years, he plans to deposit $2,600, $8,250, $7,300, $6,050, and $12,450 into the account. How much will you have at the end of the five years? (Round answer to 2 decimal places, e.g. 15.25.) Future value at end of five years $________

David White is planning to save up for a trip to Europe in three years. He will need $9,000 when he is ready to make the trip. He plans to invest the same amount at the end of each of the next three years in an account paying 7 percent. What is the amount that he will have to save every year to reach his goal of $9,000 in three years? (Round answer to 2 decimal places, e.g. 5,275.25.) Cash flows $___________

Lisa Anderson has $170,000 to invest. She wants to be able to withdraw $15,130 every year forever without using up any of her principal. What interest rate would her investment have to earn in order for her to be able to do so? (Round answer to 2 decimal places, e.g. 15.25.) Interest rate____________%

Carla Vista Corp. is expecting annual payments of $35,650 for the next seven years from a customer. What is the present value of this annuity if the discount rate is 8.0 percent? (Round factor values to 6 decimal places, e.g. 1.521215 and final answer to 2 decimal places, e.g. 5,275.25.) Present value $___________

Reference no: EM132144449

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