Marion's grandfather's will established a trust that will pay her $1500 every three months for 11 years.
Question:
Marion's grandfather's will established a trust that will pay her $1500 every three months for 11 years. The first payment will be made 6 years from now, when she turns 19. If money is worth 3.5% compounded quarterly, what is today's economic value of the bequest?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
Todays economic value of the future payments is th...View the full answer
Answered By
GERALD KAMAU
non-plagiarism work, timely work and A++ work
4.40+
6+ Reviews
11+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Marions grandfathers will established a trust that will pay her $1500 every three months for 11 years. The first payment will be made six years from now, when she turns 19. If money is worth 6.5%...
-
If money is worth 8% compounded quarterly, how long (to the nearest day) before a scheduled payment of $6000 will $5000 be an equivalent payment? For the purpose of determining the number of days in...
-
If money is worth 6% compounded annually, what amount today is equivalent to $10,000 paid: a. 12 years from now? b. 24 years from now? c. 36 years from now?
-
Multiple Choice 1. Which of the following concepts are pervasive in the application of generally accepted auditing standards, particularly the standards of field work and reporting? a. Internal...
-
A refrigerator uses R-134a as the working fluid and operates on an ideal vapor-compression refrigeration cycle between 0.15 MPa and 1 MPa. For a cooling load of 10 kW, determine the mass flow rate of...
-
Briefly describe a situation that could occur at your employer or your school that would rise to the level of a potential whistle-blower situation. What steps would you take and to whom would you...
-
The piece of rubber is originally rectangular and subjected to the deformation shown by the dashed lines. Determine the average normal strain along the diagonal DB and side AD. 3 mm- D 400 mm -x A...
-
Matthew borrows $250,000 to invest in bonds. During 2014, his interest on the loan is $30,000. Matthews interest income from the bonds is $10,000. This is Matthews only investment income. a....
-
Discuss anything you learned about personal financial management in Kindergarten through 12th grade. What do you remember? Has anyone in your life discussed financial management with you? If so, what...
-
In 1984 and 1985, the small Latin American country of Bolivia experienced hyperinflation. Below are some key macroeconomic data from those years: a. Do the money supply, price level, and exchange...
-
A city sells plots in its cemetery for $1000 plus an amount calculated to provide for the cost of maintaining the grounds in perpetuity. This cost is figured at $25 per plot due at the end of each...
-
A $65,000 loan, bearing interest at 8% compounded quarterly was repaid, after a period of deferral, by quarterly payments of $3821.85 over 10 years. What was the time interval between the date of the...
-
Are both corporations and individuals subject to depreciation recapture when they sell depreciable real property at a gain? Explain.
-
A 32-year-old woman attends the Genito-urinary Medicine (GUM) Clinic. She is concerned about vaginal discharge with an unpleasant smell. She has noticed these symptoms for the past 3 weeks and has...
-
Question 10: Wait, ANY reporter I want!? How about Clark Kent? Note: If the pictures of the set blocks below are not rendering correctly, don't worry, they are just setting NUMBERS to a list of three...
-
Apply the concept of opportunity cost to the following scenario: What is your opportunity cost of buying a brand new 2023 Escape Active at a Ford dealership from your savings?
-
Strategic and financial controls. Example of a balanced scorecard to evaluate the bridal services organisation's performance. Which criteria will you take into consideration to ensure strategic...
-
Explain how property, plant and equipment is depreciated, including the method and estimated life of each asset category.
-
The Commercial Division of Galena Company has income from operations of $12,680,000 and assets of $74,500,000. The minimum acceptable return on assets is 12%. What is the residual income for the...
-
Integration is a vital concept when applied in one?s life. Integrating your life means making ideal choices. Perfect choices on the other go in line with quality decisions. Quality decisions lead to...
-
Compare the means of each pair of groups using the Bonferroni method? Pulmonary Disease Twenty-two young asthmatic volunteers were studied to assess the short-term effects of sulfur dioxide (SO 2 )...
-
Is a fixed-effects or a random-effects ANOVA appropriate here? Hypertension Automated blood-pressure measuring devices have appeared in many banks, drugstores, and other public places. A study was...
-
Test whether the mean difference is consistent over all four locations? Hypertension Automated blood-pressure measuring devices have appeared in many banks, drugstores, and other public places. A...
-
Suppose the correlation between the stock euro returns of Siemens and the USD/EUR exchange rate is 0.2. The standard deviation of the USD/EUR is 10% and the standard deviation of Siemens's stock euro...
-
list and describe the three key client-related factors that the advisor is required to consider when developing a "suitable" investment portfolio for their client. Please cite resources used
-
Year 1 2 3 Amount ($) 2000 3000 4000 An investment made today will pays you the above cash flows at the end of each year. If your required rate of return is 5% annual interest, how much will you pay...
Study smarter with the SolutionInn App