Mr. Blochirt is creating a college investment fund for his daughter. He will put in $850 per

Question:

Mr. Blochirt is creating a college investment fund for his daughter. He will put in $850 per year for the next 15 years and expects to earn a 8% annual rate of return. How much money will his daughter have when she starts college?

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

Step by Step Answer:

Related Book For book-img-for-question

Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

See More Books

Question Posted: May 20, 2013 06:31 AM

See More Questions

Mr. Bates is creating a college fund for his daughter. He will put in $850 at the end of each year for the next 15 years. He expects to earn 6.35% annually. How much money will his daughter have in...
How much money will Penny Pincher have after 40 years if she invests $500 at the beginning of each month and is able to earn a rate of return of 9 percent compounded semi-annually on her investments?...
1. Calculate the funds equivalent compound annual rate of return over the entire 54 9/12 years. 2. What was the equivalent compound annual rate of inflation during the entire period? 3. What was the...
The passage indicates that the late 1850s Democrats: F. Were all Southern slaveholders who wanted to expand slavery into the territories. G. Used legislation in the early 1850s to support their...
Devise a synthesis for each of the following, starting with benzene: a. M-bromobenzenesulfonic acid b. P-nitrotoluene
Fill in each blank so that the resulting statement is true. To find the multiplicative inverse of an invertible matrix A, we perform row operations on [A| I n ] to obtain a matrix of the form [ I n |...
Gibsons Nursery has the following information as of December 31,2010: Requirements 1. Compute the rate of inventory turnover for Gibsons Nursery for the year ended December 31,2010. Round the result...
Venzuela Inc. is building a new hockey arena at a cost of $2.5 million. It received a down payment of $500,000 from local businesses to support the project, and now needs to borrow $2 million to...
Terlon Corporation has a beta of 1.23 and its required rate of return is 11.25%. The risk free rate is 4.30%. What is the required rate of return of the stock market given this data?
Supply the missing data in the following cases. Each case is independent of the others. Case 2 3 Direct materials. $6,000 $4,500 $5,000 $3,000 Direct labor... S7,000 $4,000 $3,000 Manufacturing...
ElectroWizard Company produces a popular video game called Destructo which sells for $32. Last year ElectroWizard sold 50,000 Destructo games, each of which costs $6 to produce. ElectroWizard...
The net income reported on the income statement for the current year was $275,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,...
What is the difference between a statistic and a parameter?
Panda Inc.'s net income for the most recent year was $17,185. The tax rate was 40 percent. The firm paid $4,006 in total interest expense and deducted $2,685 in depreciation expense. What was the...
The serratus posterior superior andserratus posterior inferior are both involved in respiration but invery different ways. Knowing this, answer the following questions(1-3): What function does each...
Susan was employed as bookkeeper at a PEI Construction Company. She did not sign any written employment contract but had been employed there for 7 years at a salary of $ 5 0 , 0 0 0 . 0 0 per year....
Describe four of the five general forms of analytical procedures. For each form describe a typical source of the information for the form. For each source, include any questions or concerns an...
Glass Ltd produces and sells glass drinking bottles. The sales price of a glass bottle is 90 ; the overhead cost per unit is 23 ; and they make 20 profit per glass bottle. What is the direct cost per...
Ian is a freelance television technician. In a typical tax year he works for approximately 20 separate TV companies. None of his engagements with any of these companies lasts for more than 10 days at...
Sandcastles, Inc.s management has recently been looking at a proposal to purchase a new brick molding machine. With the new machine, the company would not have to buy bricks. The estimated useful...
Annual insurance of $5940 ($5400 + $540 GST) was paid at the end of February 2022 for the period March February. Monthly accounts are prepared and standing journals are used; balance date is 30 June....
Identify the following items as (1) operating, (2) investing, or (3) financing activities: purchase of land; payment of dividends; cash sales; and purchase of treasury stock.
Unlike the other major financial statements, the statement of cash flows is not prepared from the adjusted trial balance. From what sources does the information to prepare this statement come, and...
Why is it necessary to convert accrual-based net income to a cash basis when preparing a statement of cash flows?
Simplify the expression 5 44z + 99z
What is the output of the following program You can submit an image to make sure you don't loose the spacing and alignment in you output program p5 ! Fw.d format real i=234.345,j=-56.123 print...
A truck on a straight road starts from rest, accelerating at 2.00 m/s until it reaches a speed of 50.0 m/s. Then the truck travels for 51.0 s at constant speed until the brakes are applied, stopping...

Mr. Blochirt is creating a college investment fund for his daughter. He will put in $850 per

Question:

Step by Step Answer:

Calculation of Future value of annuity Annu...View the full answer

Entrepreneurial Finance

Students also viewed these Accounting questions