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stiv31 [10]
3 years ago
9

I need help with number 17 please, and show work. I keep getting different answers. 1

Mathematics
1 answer:
irga5000 [103]3 years ago
7 0
Attached solution and work.

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How Much Have I Saved? Portfolio
avanturin [10]

The time value of money calculation can be performed using formula equations or online calculators.

The correct responses are;

  • 1) Option 3
  • 2) Option 2
  • 3) The difference in principal is approximately $8,000
  • The difference in interest earned is approximately $2,977.87
  • 4) It is better to invest more money at the beginning of the 30 years

Reasons:

Option 1: Present value = 0

Amount invested per month, A = $25/month

The Annual Percentage Rate, APR, r = 3.25%

Number of years = 30

The future value of an annuity is given by the formula;

\displaystyle FV_{A} = \mathbf{A \cdot \left (\frac{ \left(1 + \frac{r}{m} \right)^{m\cdot t} - 1}{\frac{r}{m} } \right)}

In option 1, m = 12 periods per year

Therefore;

\displaystyle FV_{A} = 25 \times \left (\frac{ \left(1 + \frac{0.0325}{12} \right)^{12 \times 30} - 1}{\frac{0.0325}{12} } \right) \approx  \mathbf{15,209.3}

Contribution = $25 × 12 × 30 = $9,000

Total interest earned = $15,209.3 - $9,000 = $6,209.3

Final balance = $15,209.3

Option 2: Present value = 0

Amount, A = $75/quarter

m = 4 periods per year

The Annual Percentage Rate, APR = 4.00%

Therefore;

The effective interest rate is therefore;

\displaystyle r_{eff} = \left(1 + \frac{0.04}{4} \right)^4 - 1 \approx \mathbf{0.04060401}

\displaystyle FV_{A} = 75 \times \left (\frac{ \left(1 + \frac{0.04060401}{4} \right)^{4 \times 30} - 1}{\frac{0.04060401}{4} } \right) \approx  17,437.7

Using an online calculator, FV = $17,467.04

Contribution = $75 × 4 × 30 = $9,000

Total interest earned = $17,467.04 - $9,000 = $8,467.04

Final balance = $17,467.04

Option 3: Present value = $1,000

APR = 6.25%

m = 12 period per year

Number of years, t = 30 years

Therefore;

\displaystyle FV = \left (1 + \frac{0.0625}{12} \right)^{12 \times 30} \approx \mathbf{6,489.17}

Contribution = $1,000

Total interest earned = $6,489.17 - $1,000 = $5,489.17

Final balance = $6,489.17

The table of values is therefore;

  • \begin{tabular}{|c|c|c|c|}Option \# &Contribution &Total Interest Earned&Final Balance\\1&\$9,000&\$6,209.3 & \$15,209.3\\2&\$9,000&\$8,467.04 &\$17,467.04\\3&\$1,000&\$5,489.17&\$6,489.17\end{array}\right]

1) The option that has the least amount invested are <u>option 3</u>

Option 3 investment plan is a present value of $1,000, invested for 30 years at 6.25% APR compounded monthly.

2) <u>Option 2</u> yielded the highest amount at the end of 30 years, given that the APR is higher than the APR for option 1, although the amount invested over the period are the same.

The basis of option 2 investment plan is $75 invested quarterly at 4.00% APR compounded monthly for 30 years.

3) The difference in the principal invested for the highest and lowest final balance is $9,000 - $1,000 = <u>$8,000</u>

The difference in the interest earned is; $8,467.04 - $5,489.17 = <u>$2,977.87</u>

4) In option 1 the present value is zero, therefore zero amount was invested at the beginning.

The interest to investment ration is 6,209.3:9,000 ≈ 0.7:1

In option 3, all the money was invested at the beginning.

The interest to investment ratio of option 3 is; 5,489.17:1,000 ≈ 5.5:1

Given that the interest to investment ratio, which is the return on investment is larger when more money is saved at the beginning as in option 3, <u>it is better to invest more money at the beginning</u>.

Learn more about future value of an annuity here:

brainly.com/question/8243704

3 0
3 years ago
Can somebody please explain and answer this for me? I really don't get it.
Tcecarenko [31]

Answer:

Results can be (-\frac{1}{3} )^5

Step-by-step explanation:

-The solution for this question:

(-\frac{1}{3} )^5 is equal to  (-\frac{1}{3}) × (-\frac{1}{3}) × (-\frac{1}{3}) × (-\frac{1}{3}) × (-\frac{1}{3})

-The calculation for (-\frac{1}{3} )^5:

(-\frac{1}{3} )^5 = -\frac{1}{243}

3 0
3 years ago
A comic book costs $3.99, including tax. It is marked up 45%.
nalin [4]
10% of 3.99=0.399x4=1.596
1% of 3.99=0.0399x5=0.1995
1.596+0.1995=1.7955
1.8(Rounded)+3.99=5.79
7 0
3 years ago
Read 2 more answers
Shawn drew a rectangle that had a width of 4.2 inches and a length of 8.1 inches. Find the perimeter of Shawn's rectangle
MArishka [77]

Answer: 24.6 inches


Step-by-step explanation: Since it's a rectangle, and not a rectangular prism, that means it's 2D. Length is the long sides on the top and bottom, and width is the shorter sides on it's left and right. So since there's two of each, just do 8.1 + 8.1 + 4.2 + 4.2 and you have your answer!


3 0
3 years ago
Rationalise the denominator.
grin007 [14]

Let's see what to do buddy...

_________________________________

To do this, we have to multiply the face and denominator of the fraction by the denominator conjunction, which is :

(5 -\sqrt{2})

°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°

Reminder :

(a + b)(a - b) =  {a}^{2} -  {b}^{2}  \\

°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°

So we have :

\frac{1}{ 5-\sqrt{2} } \times  \frac{ 5+\sqrt{2}  }{ 5 +\sqrt{2}  } =  \frac{1 \times ( 5 +\sqrt{2}) }{(5- \sqrt{2} )( 5 +\sqrt{2})  } =  \\

The other is in the photo.

_________________________________

And we're done.

Thanks for watching buddy good luck.

♥️♥️♥️♥️♥️

7 0
3 years ago
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