If you deposit $50 per month in a bank account at 10 percent annual interest (compounded monthly),
Question:
If you deposit $50 per month in a bank account at 10 percent annual interest (compounded monthly), how much will you have in your account at the end of the 12th year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (14 reviews)
At a 10 discount rate th...View the full answer
Answered By
Umber Talat
I am providing full time mentoring and tutoring services in Business Finance, Contemporary issue in Global Economy, Quantitative Techniques, Principles of Marketing, strategic marketing, International Marketing, Organizational Behavior (OB), Consumer Behavior, Sales Force Management, Strategic Brand Management, Services Marketing, Integrated Marketing Communication (IMC), Principles of Management, General Management, Strategic Management, Small and Medium Enterprise Management, Innovation Management, Change Management, Knowledge Management, Strategic Planning, Operations Management, Supply Chain Management, Logistics Management, Inventory management, Total Quality Management (TQM), Productions Management, Project Management, Production Planning, Human Resource Management (HRM), Human Resource Development, Strategic HRM, Organizational Planning, Performance and Compensation Management, Recruitment and Selection, Organizational Development, Global Issues in Human Resource Management, Retail Marketing, Entrepreneurship, Entrepreneurial Marketing, International Business, Research Methods in Business, Business Communication, Business Ethics.
4.70+
158+ Reviews
236+ Question Solved
Related Book For
Real Estate Principles A Value Approach
ISBN: 978-0077836368
5th edition
Authors: David C Ling, Wayne Archer
Question Posted:
Students also viewed these Business questions
-
Carmin Kovach is single and has two children from her previous marriage. Anika, 9, lives with Carmin. Julius, 11, lives with his father, Ray. Carmin pays alimony of $400 per month to Ray. The...
-
1. If Sue died today, how much would the Wrights need in the family maintenance fund? Explain the reasons behind your calculations. 2. Suppose the Wrights found that Sue and Tom each had a life...
-
Staci Valek began making pottery several years ago as a hobby. Her work is quite creative, and it has become so popular that she has decided to quit her job with an aerospace firm and manufacture...
-
Jack Williams works in a very active department called purchasing. He works with store managers, marketing, and supply companies. The people in his department try to have the right product, in the...
-
Find y'' for 1 / x - 1 / y = 1.
-
Water flows in a constant-diameter pipe with the following conditions measured: At section (a) \(p_{a}=32.4 \mathrm{psi}\) and \(z_{a}=56.8 \mathrm{ft}\); at section (b) \(p_{b}=29.7 \mathrm{psi}\)...
-
How can new methods of promotion through the internet assist the sales process?
-
Prepare journal entries for the following selected transactions of Danica Company for 2014. 2014 Dec. 13 Accepted a $9,500, 45-day, 8% note dated December 13 in granting Miranda Lee a time extension...
-
A goldfish is swimming inside a spherical bowl of water, which has an index of refraction of n = 1.333. Suppose the goldfish is at p = 10.0 cm from the wall of the bowl, which has a radius |R| = 15.0...
-
Create and insert an ERD showing the constellation ERD schema below. Please see requirements in the next two sections. Determine four to five (non-date/time) dimension tables a. SCDs need to be...
-
If your parents purchased an endowment policy of $10,000 for you and the policy will mature in 12 years, how much is it worth today, discounted at 15 percent annually?
-
If you deposit $1 at the end of each of the next ten years and these deposits earn interest at 10 percent compounded annually, what will the series of deposits be worth at the end of the 10 th year?
-
Jim sells a parcel of land for $75,000 cash and the buyer assumes Jims liability of $10,000 on the land. Jims basis is $ 64,000. What is the gain or loss on the sale? a. $1,000 loss. b. $1,000gain....
-
What are the steps in writing a report?
-
For written reports, what is the difference between the factual format and the administrative format?
-
What is TARP and how was it funded? What is meant by the term lender of last resort and how does it relate to the financial crisis of 20072008? How do government and Federal Reserve emergency loans...
-
What are the different techniques or methods for identifying candidate solutions? If you had to choose just one of these methods, which would it be and why?
-
What are some of the benefits of prototyping?
-
Solve each equation. 27 = 3 log, 64
-
San Carlos Bank and Trust Company uses a credit-scoring system to evaluate most consumer loans that amount to more than $2,500. The key factors used in its scoring system are found at the conclusion...
-
What are the advantages to a home buyer of a graduated payment mortgage?
-
What is the major constraint on lenders in setting new interest rates for an adjustable rate mortgage?
-
Discuss the quality of the major ARM indexes cited in the text?
-
In January 2023, Marty's Fine Pens, a business carried on as a sole proprietorship, sells a limited-edition fountain pen for $125,000. The cost of the pen is $63,000. There is a down payment of...
-
An 90000 loan is amortized by payments of $1850 at the end of every 6 months at a rate of 2% compounded monthly 1. Construct a partial amortization schedule showing the last 2 payments 2. determine...
-
Kelso's has a return on equity of 15.2 percent, a debt-equity ratio of 44 percent, a capital intensity ratio of 1.08, a current ratio of 1.25, and current assets of $138,000. What is the profit...
Study smarter with the SolutionInn App