How much is an investment of $250 worth after 8 years if it earns annual interest of
Question:
How much is an investment of $250 worth after 8 years if it earns annual interest of 4.8% compounded monthly? [4.8% annual interest compounded monthly means that 0.4% (4.8% 12) interest is added each month.]
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
To solve this problem we can use the formula for compou...View the full answer
Answered By
Prince Kumar
I have teaches last 5 year in difference Colleges and universities. I'm principal in secondary school last 2 year.
0.00
0 Reviews
10+ Question Solved
Related Book For
Basic Technical Mathematics
ISBN: 9780137529896
12th Edition
Authors: Allyn J. Washington, Richard Evans
Question Posted:
Students also viewed these Mathematics questions
-
a. Draw time lines for (1) a $100 lump sum cash flow at the end of Year 2, (2) an ordinary annuity of $100 per year for 3 years, and (3) an uneven cash flow stream of -$50, $100, $75, and $50 at the...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
You have applied for a job with a local bank. As part of its evaluation process, you must take an examination on time value of money analysis covering the following questions: a. Draw time lines for...
-
Following are financial statements (historical and forecasted) for the Global Products Corporation. A. Assume that the cash account includes only required cash. Determine the dollar amount of equity...
-
A wholesaler has recently developed a computerized sales invoicing system. Prior to implementing this system, a manual system was used. Historically, the manual system produced 87% of invoices with 0...
-
Kerosene at 25?C is flowing in the system shown in Fig. 11.21. The total length of 50 mm OD ? 1.5 mm wall hydraulic copper tubing is 30 m. The two 90? bends havea radius of 300 mm. Calculate the...
-
The following are the major units in a chemical plant. Evaluate the bare-module cost for each unit and for the entire process. Assuming no allocated costs for the utilities and related facilities,...
-
You have been with Zaird & Associates for approximately three months and are completing your work on the BizCaz audit. BizCaz produces pullover knit shirts to address the business casual market for...
-
You expected to receive $1,000 today, $1000 one month from now and $1000 two months from now. What is the present value of these cash flows if the dicount rate is 12% APR wit monthly compounding?
-
Solve the given problems involving factorials. Show that n! = n (n 1)! for n 2. To use this equation for n = 1, explain why it is necessary to define 0! = 1 (this is a standard definition of 0!).
-
Solve the given problems involving factorials. Show that (n + 1)!/(n 2)! = n n for n 2.
-
Danner Inc. has a $395,000 capital loss carryover that will expire at the end of the current tax year if it is not used. Also, Danner Inc. has been a general partner in the Talisman Partnership for...
-
The following sales have been made by F. Rae Ltd during the month of June 2012. All the figures are shown net after deducting trade discount, but before adding VAT at the rate of 10 per cent. You are...
-
Consider a simple congestion control algorithm that uses linear increase and multiplicative decrease but not slow start, that works in units of packets rather than bytes, and that starts each...
-
If you were the judge, how would you have decided Hakkila v. Hakkila? In the second to last paragraph of the opinion, the court suggests that the husband was a victim. Do you think he was?
-
a. Make a list of every fact that helps support the conclusion that the agreement was signed involuntarily. For each fact, state why. b. Make a list of every fact that helps support the conclusion...
-
Liam throws a water balloon horizontally at 8.2 m/s out of a window 10 m from the ground. How far from the base of the building does the balloon land? A. 4.2 m B. 8.0 m C. 12 m D. 15 m E. 18 m
-
In the years after World War II, the United States briefly ran a trade surplus that peaked at about 5% of GDP in 1947. Use the national income identity (the investment = savings version) to provide a...
-
Find the center of mass of a thin triangular plate bounded by the y-axis and the lines y = x and y = 2 - x if (x, y) = 6x + 3y + 3.
-
A right triangle has one vertex on the graph of y = 9 - x 2 , x > 0, at (x, y), another at the origin, and the third on the positive x-axis at (x, 0). Express the area A of the triangle as a function...
-
True or False A function can have more than one y-intercept.
-
In problem, find the real solutions of each equation. 2x + 3 = 2
-
In the imaginary city of New Amsterdam, the subway system is run by the Mediocre Transit Authority (MTA). The subway system uses a single-fare system, where each ride costs $1 irreSpec- tive of the...
-
3. Consider the data (x; = (x(), , y());=1 below, where we fit the model p(y = 1|x, w) = (wo + 1x1 + W2x2). Suppose we fit the model by the Lasso regularized negative log-likelihood objective...
-
Complete the program. main(): ("This program will count how much paper money you have.") ones = eval(input("How many one dollars bills do you have?")) fives = eval(_______________("How many five...
Study smarter with the SolutionInn App