If you invested $2500 in a bank 24-month certificate of deposit paying 8.65%, compounded monthly, what is

Question:

If you invested $2500 in a bank 24-month certificate of deposit paying 8.65%, compounded monthly, what is the future worth of the certificate of deposit when it matures in 2 years?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

See More Books

Question Posted: May 24, 2016 07:09 AM

See More Questions

What is the future worth of an equal payment series of $3,000 each quarter for 5 years if the interest rate is 8%/year compounded continuously? a. $73,037 b. $72,892 c. $70,862 d. $70,399
What is the future worth of a series of equal end-of-month payments of $1,500 if the series extends over a period of eight years at 9% interest compounded at the given intervals? (a) Quarterly (b)...
What is the future worth of the following series of payments? (a) $22,000 at the end of each six-month period for five years at 8% compounded semiannually. (b) $80,000 at the end of each quarter for...
Using a resource-based view, explain why some firms improve their economic performance by adopting a CSR strategy, whereas others achieve no results or damaging results.
What technique is used to validate user requirements?
Northern Defense manufactures radar systems. It has just completed the manufacture of its first newly designed system, RS-32. Manufacturing data for the RS-32 follow: Calculate the total variable...
Let the random variables $U_{1}$ and $U_{2}$ be jointly Gaussian, with zero means, equal variances, and correlation coefficient $ho eq 0$. Consider the new random variables $V_{1}$ and...
On December 31, 2012, Edgmont, Co., purchased $10,000 of inventory on a one-year, 10% note payable. Edgmont uses a perpetual inventory system. Requirements 1. Journalize the companys accrual of...
Cooperative has a straight-line depreciation policy and expected economy life of its taxis for 5 years. If the drivers choose bought the taxi in cash, then cash should be paid at the day of...
The average fill volume of a regular can of soft drink is 12 ounces. Suppose the fill volume of these cans ranges from 11.97 to 12.03 ounces and is uniformly distributed. What is the height of this...
Jean invests $100 in Year 1 and doubles the amount each year after that (so the investment is $100, 200, 400, 800, . . .). If she continues to do this for 10years, and the investment pays 10% annual...
After receiving an inheritance of $25,000 on her 21st birthday, Ayn Rand deposited the inheritance in a savings account with an effective annual interest rate of 6%. She decided that she would make...
Distinguish between a pie chart, bar graph, and frequency polygon. Construct one of each.
how to make star pattern in c + + using 2 for loops?
What is the median and mean for these companies and are the undervalued, overvalued or fairly valued ?please find out.
ori Greiner, billionaire Shark and "Queen of QVC", exclaimed, "Oh my God!," after learning six pieces of vegan chicken wings, costing $2.67 to produce, are sold for $23. Based on this information,...
Identify Clorox s Top 4 ( 4 ) Strategic Issues. These would be the four issues that are blocking successful achievement of corporate or business line goals. You may restrict your attention to your...
A multiplexer / data selector is a logic circuit that: Soru 4 Yan t accepts data inputs from multiple lines and passes this data to multiple output lines. accepts data inputs from several lines and...
The normal distribution can be used to approximate the binomial distribution when n p and n q are both greater than or equal to ________ .
Find the volume of the described solid S. A frustum of a right circular cone with height h, lower base radius R, and top radius r -r- --R
Low Carb Diet Supplement Inc. has two divisions. Division A has a profit of $156,000 on sales of $2,010,000. Division B is only able to make $28,800 on sales of $329,000. Based on the profit margins...
Database Systems is considering expansion into a new product line. Assets to support expansion will cost $380,000. It is estimated that Database can generate $1,410,000 in annual sales, with an 8...
Polly Esther Dress Shops Inc. can open a new store that will do an annual sales volume of $837,900. It will turn over its assets 1.9 times per year. The profit margin on sales will be 8 percent. What...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Submit Date March 1 March 5 March 9 March 18 March 25 March 29...
Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is...
What are the fundamental differences between preemptive and cooperative multitasking in an operating system, and in which scenarios would each be most effective ?

If you invested $2500 in a bank 24-month certificate of deposit paying 8.65%, compounded monthly, what is

Question:

Step by Step Answer:

i 00865 12 n 2...View the full answer

Engineering Economic Analysis

Students also viewed these Accounting questions