In an effort to save money for early retirement, an environmental engineering colleague plans to deposit $1200
Question:
In an effort to save money for early retirement, an environmental engineering colleague plans to deposit $1200 per month, starting 1 month from now, into a fixed rate account that pays 8% per year, compounded semiannually. How much will be in the account at the end of 25 years?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 87% (8 reviews)
PP CP Move monthly de...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Polly, Molly, and Dolly are all single mothers. They each can earn $10 per hour working for up to 2,000 hours per year. Their government runs a welfare system that gives income benefits of $5,000 per...
-
Using the sources and your own knowledge, analyze the extent to which military power has become obsolete. Source A Moreover, military power (or "capability") itself can mean different things in...
-
Discuss the marketing strategy and tactical mistakes Google made when introducing the Nexus One. Did you buy a Google Nexus One smartphone when it hit the market in early 2010? Didnt think sofew...
-
A process is controlled with a fraction nonconforming control chart with three-sigma limits, n = 100, UCL = 0.161, center line = 0.080, and LCL = 0. (a) Find the equivalent control chart for the...
-
1. Why is Germany a "reluctant hegemon" in the EU? 2. Why does Germany have to be assertive in the EU? 3. What are the benefits and costs of using a common currency for Germany, Greece, and the EU?...
-
How is a corporation created?
-
Bubble point is defined as the point at which (a) The first bubble of vapour is formed upon heating a liquid consisting of two or more components at a given pressure (b) The first drop of liquid...
-
A local market research firm has just won a contract for several thousand small projects involving data gathering and statistical analysis. In the past, the firm has assigned each project to a single...
-
Ace Cosmetics Corporation purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows: purchase price, $55,000;...
-
Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In exchange, Alfonso paid $198,000 in cash and issued 100,000 shares of its own $1 par value common...
-
Given that y = ax 3 + 7, which of the following are correct C# statements for this equation? a) y = a * x * x * x + 7; b) y = a * x * x * (x + 7); c) y = (a * x) * x * (x + 7); d) y = (a * x) * x * x...
-
Compute the matrix norm and the condition number corresponding to the l 1 -vector norm. [ 2.1 4.5 0.5 1.8
-
The general addition rule for two events is presented in Formula 5.3 on page 204 and that for three events is displayed on page 206. The General Addition Rule If A and B are any two events, then P(A...
-
Consider the macroeconomic data for a country listed in the Table P-14.2, including annual VA for the building sector and all the sectors (i.e., GDP for the entire economy) as well as associated TFC...
-
Explain the role of feedback in helping a system adapt to changing circumstances.
-
As president of your departments Advertising Club, you are getting ready to plan your events for the upcoming year when you learn that your department, facing a serious budget crunch, has cut your...
-
Assess the cost-effectiveness of retrofitting an office building with LED-integrated controls at a cost of 35/m 2 . Before the retrofit, the building has lighting density of 9.5 W/m 2 for a total...
-
Earlier you met two members of the Public Relations Clubs executive committee: Wade and Rhea. Now lets meet three other members: Sonya, Bob, and Eric. Each of these members has his or her own...
-
Consider the challenges of global logistics management for selling supply chain textbooks to universities in South Africa. Identify how packaging, labeling, and inventory issues can all play critical...
-
What is the difference between the straight-line method of depreciation and the written down value method? Which method is more appropriate for reporting earnings?
-
Use the rule of 72 to determine how long it takes to accumulate $10,000 in a savings account when P = $5,000 and i = 10% per year. Rule of 72: The time (years) required to double the value of a...
-
Suppose you are considering borrowing $140,000 to finance your house. The annual rate of interest is 15% and payments are made monthly. If the mortgage is on a 30-year schedule, what are the monthly...
-
An enterprising student invests $1,000 at an annual interest rate that will grow the original investment to $2,000 in four years. In four more years, the amount will grow to $4,000, and this pattern...
-
A company is faced with the decision of whether to lease or purchase new equipment. The equipment can be leased at an annual cost of $210,000 or purchased for $560,000. The equipment has an expected...
-
Braverman Company has two manufacturing departments-Finishing and Fabrication. The predetermined overhead rates in Finishing and Fabrication are $28.00 per direct labor-hour and 120% of direct...
-
A stock had returns of 28%, 1%, and 13% over the previous 3 years. The average return on this stock over the 3-year period was 14%. What was the variance of this stock's returns over the previous 3...
Study smarter with the SolutionInn App