Ask Question, Ask an Expert


Ask Basic Finance Expert

problem: How much would Kevin and Stacy have to save in 2008 to be on track in meeting their goals? Estimate the following:

The emergency fund [remember they already have some money in a money market account]

Down payment on the new car

Remodeling expenses for the lake house

Samantha's college education fund [remember they already have some money in McDonalds stock]

Their retirement investment fund (IRAs)

Apply future value computations to compute the amount that must be saved yearly for their emergency fund, car, college, and remodeling goals. suppose Kevin and Stacy can earn 3.5 percent after taxes on their emergency fund and car goals, 8 percent after taxes on the remodeling goal, and 10 percent on the college fund. You will not use future value calculations when figuring the amount of savings required to meet their 401(k) & retirement fund goals since you were told the year contribution they wanted to make. Remember to label each goal & add the required sums for each goal together to find the TOTAL ANNUAL SAVINGS required funding their goals.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M921274

Have any Question? 

Related Questions in Basic Finance

Cost of debt and equitythe manager of sensible essentials

Cost of Debt and Equity The manager of Sensible Essentials conducted an excellent seminar explaining debt and equity financing and how firms should analyze their cost of capital. Nevertheless, the guidelines failed to fu ...

Suppose that the government increases its tax rate on

Suppose that the government increases its tax rate on interest earned Afterward, savings increase. Which effect dominates, the income effect or the substitution effect? Explain.

Economic indicators stock market conditions serve as a

Economic Indicators Stock market conditions serve as a leading economic indicator. If the U.S. economy is in a recession, what are the implications of this indicator? Why might this indicator be inaccurate?

Suppose you borrow 300000 at 7 for 30 years with 0 points

Suppose you borrow $300,000 at 7% for 30 years with 0 points. Suppose also that the mortgage note includes a prepayment penalty of 1% of the mortgage balance if the mortgage is prepaid within 10 years. What is the effect ...

1 assume that you are mr hegarty the ceo of mebel-doran

1) Assume that you are Mr. Hegarty, the CEO of Mebel-Doran. What will you do now? What avenues are open to you? Is Mebel-Doran ethically responsible for anything in this transaction? Should they be legally responsible? S ...

Write any 7-12 numbers of your choice1 arrange numbers in

Write any 7-12 numbers of your choice. 1. Arrange numbers in order and find Median and Mean. 2. Calculate Sample Variance and Standard Deviation.

Bull using the list from the back of your textbook for the

• Using the list from the back of your textbook, for the following 6 diagnostic financial performance categories, decide which ratios (2-3 for each diagnostic category listed) you wish to use. Short-term liquidity Capita ...

Reddy et al 2013 suggest that the australian commercial

Reddy et al (2013) suggest that the Australian commercial property sector has an average historical return of 9.5% with a historical standard deviation of 8.24% and historical correlation with the market of 0.58. The mar ...

Questions-part 1 company financialsthrough 20142016

Questions- Part 1: Company financials Through 2014.2016 financial performance of Qantas has seen a major turnaround (refer to Source 1, 2 and 3). a) On Page 24 of the 2016 Preliminary Final Report shows a Return on Inves ...

At the end of 2011 home depots total capitalization

At the end of 2011 Home Depot's total capitalization amounted to $28,992 million. In 2012 debt investors received interest income of $635 million. Net income to shareholders was $4,526 million. (Assume a tax rate of 35%. ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate