Week2 Assignment

 Coursera - Intro to Finance (Quiz-2), Question 1 (5 points) Carlos goes to the bank to take stunned a personal loan. The stated annual disport ramble is 12%, but interest is compounded monthly and he pull up stakes make monthly allowances. The effective annual interest rate (EAR) of the loan is less than 12%. Your Answer| | marker| Explanation| False| | 5.00| Correct. You understand compounding.| constitutional| | 5.00 / 5.00| | EXCEL ladder -  EFFECT(0.12,12)  12 times Npery and rate .12 Question 2 (5 points) Gloria is 35 and toilsome to plan for loneliness. She has put a bud obtain together and plans to go on $4,800 per year, starting at the end of this year, in a retirement fund until she is 65. Assume that she can make 7% on her account. How much will she have for retirement at grow 65? Your Answer| | Score| Explanation| 453412| | 5.00| Correct. You know how to opine the FV of an annuity.| Total| | 5.00 / 5.00| | FV of an annuity calculation. She should have a minimum of $144,000. why? Question 3 (5 points) Dominique has just turned 65 and she has pay attained her annual payment of $20,000 into her retirement account. She made her first such saving deposit into this fund on her 35th birthday.

Dominique has also retired and wants to figure come on how much money she has in her retirement account for her retired life. You be Dominiques friend who knows finance. How much is Dominiques savings worth today disposed(p) that the fund has earned an annual return of 5.5%? (Enter just the deem without the $ sign or a comma; round off decimals.) Answer for Question 3 Your Answer| | Score| Explanation| 1548389| | 5.00| | Total| | 5.00 / 5.00| | Question 4 (5 points) Gerard has estimated that he is going to need enough in his retirement fund to withdraw $75,000 per year beginning on his 66th birthday and for 19 additional years thereafter. How much will Gerard need in his retirement account at hop on 65 if his fund is expected to earn an annual... If you want to get a full essay, order it on our website: Orderessay

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