Answer:
$5,926.21
Explanation:
Jane needs 18,000
The interest rate is 12%
The time is four years
the applicable formula to calculate
P = PV × {r /( 1 − (1+r)−n )}
where P= monthly
PV = 18,000
r = 12% 0r 0.12
n= 4
P = 18,000 x{ 0.12/(1-(1+0.12)4
=18,000 x (0.12 /1-(1.12)4
=18,000 x( 0.12 / 1-0.63551807)
=18,000 x (0.12/0.364482)
=18,000 x0.364482
=$5,926.21
$11, 439 is the needed amount for Jane. Future Value (FV) is the process of calculating the value of cash inflows at a future date depending on the rate of return (ROR) that has been determined.
It is critical to investors who are continually looking for improved investment options in the financial planning concept. Higher future values may result from a higher rate of return (HROR) and longer terms.
COMPUTATION:
[tex]\text{Amount (A)} = 18,000\\\\n = 4\\4 = 0.12\\\\\text{Amount Invested (P)} = ?\\\\A = P(1+r)^{n}\\\\18,000 = P(1+0.12)^{4}\\\\18,000 =P (1.12)^{4}\\\\[/tex]
[tex]18,000 = P (1.57351936)[/tex]
[tex]P = \frac{18,000}{1.57351936}[/tex]
[tex]P = 11,439.325[/tex]
As a result, she'll need to set aside $11, 439 today to fulfill her objective i.e., to go on a world tour cruise.
Learn more about the future value here:
https://brainly.com/question/19340078?referrer=searchResults
