4) You want to have $ 50000 in the bank after 20 years. If the bank...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
4) You want to have $ 50000 in the bank after 20 years. If the bank pays 12% compounded quarterly. How much you deposit at the end of each month to have this amount of money at the end of 20 years/ The bank pays simple interest on the money which is deposited during the quarter, but interest is credited to the account and begins to draw interest itself only at the end of a quarter. 4) You want to have $ 50000 in the bank after 20 years. If the bank pays 12% compounded quarterly. How much you deposit at the end of each month to have this amount of money at the end of 20 years/ The bank pays simple interest on the money which is deposited during the quarter, but interest is credited to the account and begins to draw interest itself only at the end of a quarter. 4) You want to have $ 50000 in the bank after 20 years. If the bank pays 12% compounded quarterly. How much you deposit at the end of each month to have this amount of money at the end of 20 years/ The bank pays simple interest on the money which is deposited during the quarter, but interest is credited to the account and begins to draw interest itself only at the end of a quarter. 4) You want to have $ 50000 in the bank after 20 years. If the bank pays 12% compounded quarterly. How much you deposit at the end of each month to have this amount of money at the end of 20 years/ The bank pays simple interest on the money which is deposited during the quarter, but interest is credited to the account and begins to draw interest itself only at the end of a quarter.
Expert Answer:
Related Book For
Fundamentals of corporate finance
ISBN: 978-0073382395
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Posted Date:
Students also viewed these economics questions
-
How much must you deposit at the end of each quarter in an account that pays a nominal interest rate of 20 percent, compounded quarterly, if at the end of five years you want $10,000 in the account?...
-
How much must you deposit at the end of each year in an account that pays a nominal annual rate of 20 percent, if at the end of five years you want $10,000 in the account?
-
The price of pizza is pz = 20 per unit. (a) Donna spends all of her income, 100 dollars, on pizza (z) and tacos (t). Donnas utility function is U(z, t) = z 0.9 t 0.1 . (a.1) Derive Donnas demand...
-
Is this a confined or unconfined aquifer? Please explain. 100 m amsl 78 m amsl 56 m amsl 48 m amsl A 50 m 11m B Clay Sand Clay 100 m
-
TireCo is a retail store in a state that imposes a 6 percent sales tax. Would you expect to find sales tax expense and sales tax payable in TireCos financial statements? Explain.
-
(a) Use trigonometric substitution to verify that (b) Use the figure to give trigonometric interpretations of both terms on the right side of the equation in part (a). Va? - dt =a sin (x/a) + x/a? x2
-
The capital structure of Knightsbridge, Inc., at December 31, 2006, included 20,000 shares of \(\$ 1.25\) preferred stock and 40,000 shares of common stock. Common stock outstanding during 2007...
-
Consider the following transactions for Jo Jo Music. 2013 Dec. 6 Received a $ 7,000, 90-day, 12% note in settlement of an overdue accounts receivable from Dark Star Music. 31 Made an adjusting entry...
-
The board of directors and chief marketing officer (CMO) are sitting in on the weekly meeting you have with your team. You have decided to make a five-page informational brochure for the team to...
-
Lopez and Gomez are members in an LLC that reports net income of $130,000. An agreement states that Lopez receives a $20,000 salary allowance and Gomez receives a $50,000 salary allowance. Any...
-
Sandhill SA's ledger shows the following balances on December 31, 2022. Share Capital-Preference, 6%-10 par value, outstanding 21,500 shares Share Capital-Ordinary-100 par value, outstanding 29,100...
-
You currently have $ 6 0 , 0 0 0 in your bank account and you will need a total of $ 8 0 , 0 0 0 in 5 years to pay for a down payment on a house. What interest rate do you need to earn in order to...
-
QUESTION 4 Use the information provided below to answer the following questions. INFORMATION Ford's Struandale Engine Plant in Gqeberha (formerly Port Elizabeth), which assembles the 3.0L V6 Diesel...
-
Creates an initial message for a social media campaign on a specific platform that aligns with the company mission and vision < Not Yet Criterion Feedback 12/24/22 You have the beginnings for...
-
You are moderately bullish on TEG stock. It is now trading at RM9.70. You think it is likely to go up but not beyond RM10.50. You considered selling a put option on the stock but given your lack of...
-
Citing relevant examples, suggests solutions to the challenges of knowledge management. (20 marks) Examine the contributions of Tom Peters and Robert Waterman's culture excellence approach to...
-
6. (10 points) Northern Lights Corp. stock trades at $55 per share and there are 72 million shares outstanding. The management would like to raise $190 million in an SEO. If the underwriter charges...
-
Ask students to outline the reasons why the various elements of culture (social structures and control systems, language and aesthetics, religion and other belief systems, educational systems, etc.)...
-
Use Figure 21.1 to answer the following questions: Suppose interest rate parity holds, and the current six-month risk-free rate in the United States is 2.2 percent. What must the six-month risk-free...
-
Devour, Inc., is considering a change in its cashonly sales policy. The new terms of sale would be net one month. Based on the following information, determine if Devour should proceed or not....
-
a. Under the pecking-order theory, what is the order in which firms will obtain financing? b. Why might firms prefer not to issue new equity? c. What are some differences in implications of the...
-
True or False. The element stiffness matrices are always singular.
-
Derive the stiffness matrix of the bar element in longitudinal vibration whose cross-sectional area varies as \(A(x)=A_{0} e^{-(x / l)}\), where \(A_{0}\) is the area at the root (see Fig. 12.14)....
-
Fill in the Blank. In the finite element method, the elements are assumed to be interconnected at certain points known as ____________ .
Study smarter with the SolutionInn App