If Maria Sanchez invests $3,152 now, she will receive $10,000 at the end of 15 years. What
Question:
If Maria Sanchez invests $3,152 now, she will receive $10,000 at the end of 15 years. What annual rate of interest will Maria earn on her investment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
Present value Future value X Present v...View the full answer
Answered By
Lisper Wanja
I am an experienced and highly motivated writer with a passion for the skills listed. I have a proven track record of my expertise and my aim is to deliver quality, well-detailed and plagiarism free projects. My genuine passion for writing combined with my ongoing professional development through school and research makes me an ideal candidate within for any assignment.
4.90+
233+ Reviews
388+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0470507018
7th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Assume the total cost of a college education will be $360,000 when your child enters college in 15 years. You presently have $58,000 to invest. What annual rate of interest must you earn on your...
-
What annual rate of interest was earned if a $15,000 investment for five months earned $546.88 in interest?
-
At the end of her routine, an ice skater spins through 7.50 revolutions with her arms always fully outstretched at right angles to her body. If her arms are 60.0 cm long, through what arc length...
-
"If nominal GDP rises, velocity must rise." Is this statement true, false, or uncertain? Explain your answer.
-
Refer to problem 17-1 and assume that the company had $3 million in assets at the end of 2015. However, now assume that the company pays no dividends. Under these assumptions, what additional funds...
-
Define g : R R by g(x) := 2x for x rational, and g(x) := x + 3 for x irrational. Find all points at which g is continuous.
-
A: When a survey subject is randomly selected from the 100 senators in the 111th Congress, it is one of the 58 Democrats. B: When a second different senator is randomly selected, it is the one...
-
On January 1, 2013, Regal Manufacturing purchased a machine for $850,000. Regal Manufacturing expects the machine to remain useful for eight years and to have a residual value of $40,000. Regal...
-
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it recorded during a recent month is shown below. a. $75,700 in raw materials were...
-
Marvel Company provided the following information relating to cash payments. a. Marvel purchased direct materials on account in the following amounts. June 20,000 July 25,000 August 30,000 Marvel...
-
Goltra Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1, $30,000; Year 2, $40,000; Year 3, $50,000. Goltra requires a minimum rate of return...
-
Lori Burke has been offered the opportunity of investing $42,410 now. The investment will earn 10% per year and at the end of that time will return Lori $100,000. How many years must Lori wait to...
-
String 1 in FIGURE P16.47 has linear density 2.0 g/m and string 2 has linear density 4.0 g/m. A student sends pulses in both directions by quickly pulling up on the knot, then releasing it. What...
-
Suppose you take out a 20-year mortgage for a house that costs $472858. Assume the following: The annual interest rate on the mortgage is 4%. The bank requires a minimum down payment of 20% at the...
-
Benjamin Company produces products C, J, and R from a joint production process. Each product may be sold at the split-off point or processed further. Joint production costs of $95,000 per year are...
-
On January 1, 2019 company A issues a $1,500,000 of 10% bonds due in 10 years with interest payable at year end annually. The current market rate of interest bonds of similar risk is 8% A) What...
-
2. Write a Java program that consists of a definition for a public class called Neighbours. This should have one constructor, which takes a string[] as its parameter. The constructor should use a...
-
Your agile project team works in two different buildings across the city from each other. The team has been struggling to perform effectively and has a difficult time resolving problems. You decide...
-
Refer to QS 4-10 and prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the gross method and a periodic inventory system. Data...
-
Which task is performed by a book-keeper? A. Analysing the trading results B. Entering transactions in the ledger C. Preparing year-end financial statements D. Providing information for...
-
MTVs Teen Mom has been very controversial. But it has become a tool of public health. A study released by the National Bureau of Economic Research declares that MTVs Teen Mom franchisewhich also...
-
The following data, presented in alphabetical order, are taken from the records of Nichols Corporation. Accounts payable ................... $ 375,000 Accounts receivable ................... 135,000...
-
Mindy Feldkamp and her two colleagues, Oscar Lopez and Lori Melton, are personal trainers at an upscale health spa/resort in Tampa, Florida. They want to start a health club that specializes in...
-
After deciding to incorporate, each of the three investors receives 20,000 shares of $2 par common stock on June 12, 2009, in exchange for their co-owned building ($200,000 market value) and $100,000...
-
A major drawback to the periodic inventory system is ______. Multiple choice question. the amount of inventory on hand and sold is unavailable during the accounting period it is difficult to know the...
-
Find an equation of the line containing the given pair of points. K 1 and 6 3 5 ,5 6 An equation of the line is y = . (Simplify your answer. Type your answer in slope-intercept form. Use integers or...
-
Item42 Time Remaining 1 hour 4 minutes 55 seconds01:04:55 eBookItem 42 Time Remaining 1 hour 4 minutes 55 seconds01:04:55 The acid-test ratio: Multiple Choice Measures profitability. Measures...
Study smarter with the SolutionInn App