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**Question 211 pts**

Rupert is planning to invest $400.00 per month. His goal is to have $1,200,000. He will earn 11.0% on his investments. How many months will it take to reach his goal?

Group of answer choices

367.12 months

412.81 months

315.66 months

245.72 months

Flag question: Question 22**Question 221 pts**

Jimmy wants to have $1,000,000 on the day he retires (34 years from now). He is planning on earning 10.0% from his investments. How much will he need to invest per month, in order to reach his goal?

Group of answer choices

$291.94

$25,563.16

$2,450,98

$112.75

Flag question: Question 23**Question 231 pts**

How much can you borrow if you are willing to make payments of $1,190.50 per month (at 6% annual rate) for 30 years?

Group of answer choices

$198,565

No solution. Cannot compute this.

$133,433

$150,000

Flag question: Question 24**Question 241 pts**

Dave wants to have $2,000,000 on the day he retires (37 years from now). He is planning on earning 11.0% from his investments. How much will he need to invest per month, in order to reach his goal?

Group of answer choices

$324.59

$475.24

$1,080.77

$2,400.00

Flag question: Question 25**Question 251 pts**

Your goal is to have $2,000,000. You have a total of $40,000 today. You invest the $40,000 and want to add to it each month. At 10% annual interest, how much do you need to invest each month in order to bring the total up to $2,000,000 30 years from now?

Group of answer choices

$266

$534

$612

$153

Flag question: Question 26**Question 261 pts**

You invest $455 per month for 36 years. You earn 10.25% (annual) over that time frame. What is the future value (FV)?

Group of answer choices

$2,046,686.00

$19,083.15

$196,560.00

$1,088,356.00

Flag question: Question 27**Question 271 pts**

Javier wants to have $50,000 for a house down payment five years from now. Assuming he can earn 12.0% on his investments, how much does he need to save per month in order to meet his goal?

Group of answer choices

$612.22

$1,112.22

$833.33

$400.00

Flag question: Question 28**Question 281 pts**

The total population of ethnic Southeast Asian students (from Myanmar, Laos, Thailand, Vietnam, and Kampuchea) at your university is currently 100 students. The administration of the university wants to increase the diversity of the student body and decides to increase the number of students from Southeast Asia by 8 percent each year (over the prior year's enrollment) for a period of 15 years. How many students from Southeast Asia will be enrolled at your university after the 15 year period? (Please round your answer to the nearest "Whole Student," since the university is unlikely to admit only part of an individual student (such as an arm or a leg) without the rest of him coming along as well.)

Group of answer choices

317

547

1200

220

Flag question: Question 29**Question 291 pts**

Assume you will invest $100 per month in an investment earning 11% per year (assume monthly compounding). After 10 years, you stop making the monthly payment. The money you have accumulated after 10 years remains invested and continues to earn 11% (compounded annually) for an additional 20 years (with no further payments made). How much do you have at the end of the total 30 year period?

Group of answer choices

$174,951

$874,753

$969,440

$101,318

Flag question: Question 30**Question 301 pts**

If you invest $12,000 per year for 30 years at 10.00% (annual), what is the future value (FV)?

Group of answer choices

$1,973,928.27

$360,000.00

$2,078,378.12

$1,000,067.22

Solved by verified expert

Answered by vikas1111997 on coursehero.com

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