Plan to deposit funds in mutual fund

Assignment Help Financial Management

Reference no: EM131874294

1. You would like to travel to South American 5 years from now, and you can save $3,100 per year, beginning one year from today. You plan to deposit funds in a mutual fund that you think will return 8.5% per year. Under these conditions, how much would you have just after you make the 5th deposit, 5 years from now?

Please provide a detailed answer

2. You want to buy a car, and a local bank will lend you $20,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 10% with interest paid monthly.

What will be the monthly loan payment? Do not round intermediate steps. Round your answer to the nearest cent.

Reference no: EM131874294

Questions Cloud

Confidence intervals for the population proportion : Construct? 90% and? 95% confidence intervals for the population proportion. Interpret the results and compare the widths of the confidence intervals.

Describe how you could use hypothesis testing : Describe how you could use hypothesis testing to help make a decision in your current job, a past job, or a life situation.

Describe a brief profile of the mentally disturbed subject : Describe a brief profile of the mentally disturbed subject that enables the interrogator to classify the subject as possibly being a psychotic.

What is the margin of error : What is the margin of error of µ?? Interpret the results.

Plan to deposit funds in mutual fund : You plan to deposit funds in a mutual fund that you think will return 8.5% per year.

Prepare the journal entries required on february : Prepare the journal entries required on February 28, 2013, to accrue interest and to record the discounting for Selkirk

How would you differentiate a company to achieve success : Firms that charge relatively low prices and offer substantial differentiation are following a best-cost strategy.

Describe how organizations can overcome resistance : Describe how organizations can overcome resistance to change. Use a minimum of one website for a reference

How accurate is the picture of the ku klux klan presented : How accurate is the picture of the Ku Klux Klan presented by the article Rank and File Radicalism within the Ku Klux Klan of the 1920's?

User Account

All Pages