Fred invests $13,658 into an account that yields 4.88% interest annually. How much interest will Fred...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Fred invests $13,658 into an account that yields 4.88% interest annually. How much interest will Fred have earned after 19 years? Round answers to the nearest cent (2 decimal places). James wants to have earned $7,580 amount of interest in 24 years. Currently he finds that his annual interest rate is 8.84%. Calculate how much money James needs to invest as his principal in order to achieve this goal. Round answers to the nearest hundredth (two decimal places). The answer will not have a dollar sign, and be rounded to the nearest cent. Suzy has $4,066 to invest into a simple interest account. She's hoping to gain $1,393 in interest after 9 years. What annual percentage rate does she need to find to make sure she earns this much interest? Leave answer as a decimal, not a percent. Round to 4 decimal places. Breanne plans to invest her money into a simple interest savings accour Currently she has $14,292 to invest and the current market rate is 3.9% for annual interest yield. How long (in years) will Breanne need to leave the money in the account for it to earn $7,080 in interest? Round answer to the nearest hundredth (2 decimal places) of a year. Fred invests $13,658 into an account that yields 4.88% interest annually. How much interest will Fred have earned after 19 years? Round answers to the nearest cent (2 decimal places). James wants to have earned $7,580 amount of interest in 24 years. Currently he finds that his annual interest rate is 8.84%. Calculate how much money James needs to invest as his principal in order to achieve this goal. Round answers to the nearest hundredth (two decimal places). The answer will not have a dollar sign, and be rounded to the nearest cent. Suzy has $4,066 to invest into a simple interest account. She's hoping to gain $1,393 in interest after 9 years. What annual percentage rate does she need to find to make sure she earns this much interest? Leave answer as a decimal, not a percent. Round to 4 decimal places. Breanne plans to invest her money into a simple interest savings accour Currently she has $14,292 to invest and the current market rate is 3.9% for annual interest yield. How long (in years) will Breanne need to leave the money in the account for it to earn $7,080 in interest? Round answer to the nearest hundredth (2 decimal places) of a year.
Expert Answer:
Answer rating: 100% (QA)
Solution 1 2 3 4 Interest that Fred have earned after 19 years 13... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
In the above problem, how much money will Janine have to accumulate in her company's 401(k) plan over the next 40 years in order to reach her retirement income goal?
-
How much more will you have in your RRSP 30 years from now if you start to contribute $1000 per year at the end of this year, instead of waiting five years to begin contributing $1000 at each...
-
How much more will you have in your RRSP at age 65 if you begin annual $1000 contributions to your plan on your twenty-sixth birthday instead of on your twenty-seventh birthday? Assume that the RRSP...
-
1/ You just started working and you planned to save $5,000 every year in your retirement account. How much money will you have in your retirement account once you retire in 40 years? Your retirement...
-
How hacking can be harmful to the companies?
-
Provide an example of a transaction where: 1. One asset increases and another asset decreases 2. An asset increases and a liability increases 3. An asset increases and shareholders equity increases...
-
Define family law and identify the kinds of issues that are addressed in a family law practice.
-
For a recent year, the mean fare to fly from Charlotte, North Carolina, to Chicago, Illinois, on a discount ticket was $267. A random sample of 13 round-trip discount fares on this route last month...
-
Calculate the theoretical yield of SnS_2. theoretical yield: 0.768 g The student recovers 0.384 g of SnS_2. Calculate the percent yield of SnS_2 that the student obtained. percent yield: %
-
A B D F Dayton, Inc. Annual Income Statement (Values in Millions) Common Size 2012 2011 2012 2011 Sales $ 178,909 $ 187,510 Cost of Sales 111.631 Gross Operating Profit Selling, General & Admin....
-
You want to have $500,000 in 7 years to buy a property. You can deposit money in a term deposit today that pays interest at 10% per year. How much money should you invest today? Select one: A....
-
Which of Porters Five Forces are more dominant in healthcare than in other fields? How does the strength of these forces vary among healthcare sectors?
-
Document the flow of a project work process. Be sure to identify the starting and ending points.
-
What are the twelve project delivery principles?
-
What are three common ways of classifying projects?
-
What are the four columns of the milestone schedule?
-
. The base of a brass bracket has to be rough ground to remove the unevenness. The 4 wheels available in the store. The appropriate wheel is A. A 30 K 12 V B. C 90 M 4 B C. C 30 Q 12 V D. C 50 G 8 V
-
Two mutually exclusive investment alternatives are being considered. Alternative A requires an initial investment of $20,000 in a machine. Annual operating and maintenance costs are anticipated to be...
-
1. Identify the primary goals of monetary asset management. 2. Explain the circumstances when it would be appropriate to have funds in a checking account, a saving account, or in investments. 3....
-
(a) Briefly describe how Harry and Belinda probably determined the fair market prices for each of their tangible and investment assets. (b) Using the data from the cash-flow statement developed by...
-
(a) Belinda believes that the couple could maintain their current level of living if their retirement income represented 75 percent of their current annual income after adjusting for inflation....
-
Use the numbers for the alcohol and tobacco category from the table in the Application "Goods with a Large Consumer Surplus Loss from Price Increases" to draw a figure that illustrates the roles that...
-
Change the answer given in the Challenge Solution for the short run rather than for the long run.
-
Because many consumers choose between coffee and tea, the coffee and tea demand functions depend on both prices. Suppose the demand curves for coffee and tea are where \(Q_{c}\) is the quantity of...
Study smarter with the SolutionInn App