A friend tells you she has saved for 7 years and has a present sum of $10,000,

Question:

A friend tells you she has saved for 7 years and has a present sum of $10,000, which earned at the rate of 8% per year, compounded quarterly.

(a) Determine the equivalent amount she had to start with 7 years ago.

(b) Write the EFFECT function to find the effective rate per year.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

See More Books

Question Posted: Dec 24, 2018 07:53 AM

See More Questions

Ask students to consider the following examples from a newspaper article on insider trading. 8 Do they agree with the newspaper's answers? a. You are a taxi driver who overhears a well-dressed...
A friend tells you that she always buys bonds that are at a discount because "You always get more than you paid when the bond matures." Required Discuss your friend's understanding of present value.
A friend tells you that she does not worry about the AMT because she does not itemize deductions and, as a result, she does not generate many AMT adjustments. Evaluate your friend's assertion.
The author explores the dangerous world of undercover police work. Having read this chapter, do you believe this type of police work has the capability of corrupting police officers? If so why, and...
Describe the two primary customer-focused dimensions that many MNEs add to their global matrix structures.
The comparative balance sheet of Coulson, Inc. at December 31, 2016 and 2015, is as follows: The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2016 are as follows:...
Could Figure P28.12 represent the magnetic field due to a bar magnet that has a rectangular cross section rather than a circular cross section? Data from Figure P28.12 N S
Criticize the following working paper that you are reviewing as senior auditor on the December 31 audit of Pratt Company. The client saved a copy of the deposit slip that is filled out. Per...
a) Explain the following principles of valuation i. Principle of conformity ii. Principle of substitution iii. Principle of highest and best use iv. Principle of supply and demand v. Principle of...
The Raleigh plant manager of Allentown Corp. has noticed the plant frequently changes the schedule on its production line. He has gathered the following information on the activities, estimated...
Besides the obvious benefits of reuse made possible by OOP, what do many organizations report as another key benefit of OOP?
The TerraMax truck currently being manufactured by Oshkosh Truck Co. is a driverless truck that is intended for military use. Such a truck frees personnel to more effectively perform nondriving...
Harry Klein, inventor, formed Peer-less Load Levelers Company in 1955 to produce a simple three-piece device for automatically leveling loads on industrial conveyor belts. As the business grew and...
When a RACI matrix is being created, what person or group of people are assign an R for responsible?
When a patient who cannot read is required to sign a consent form, you will need to explain the procedure to both the patient and a family member or the patients legal guardian or representative. The...
MedPAC, or the Medicare Payment Advisory Council, is an independent agency tasked with advising the United States Congress on topics and issues related to Medicare. More information about MedPAC can...
When Procter & Gamble introduced Crest toothpaste, the first fluoride toothpaste, it was intended for use by children and was therefore given a child-appealing bubblegum flavor. Sometime later the...
When does letter writing become your job instead of the doctors job? Why must you be in charge of something that could be very important to the doctor and the patient? What skillset do you need to be...
On most days more people want to see the taping of the Tonight Show with Jay Leno (in Burbank, California) than there are seats in the studio where Jay Leno tapes the show. What might explain this...
In Exercises 105108, evaluate each expression without using a calculator. log(ln e)
In a learning curve application, 846.2 work-hours are required for the third production unit and 783.0 work-hours are required for the fifth production unit. Determine the value of n (and therefore...
Mr. Greg is planning to open a new shop whose floor space spans approximately 4000-5000 gross square feet. The shop will also contain an office area measuring approximately 800 square feet. Develop a...
Use the following information and find number of units that must be sold to achieve a profit of $50,000. Direct labor hour: ..................................... 0.5 hour/unit Direct labor costs:...
MR Green is one of the resident for who you take care in a nursing home .He is recovering from a stroke and has a pressure ulcer . In addition he is disoriented and confuse . However he can feed...
What does the accountability of prescriptive theory? b. What does the accountability of capture theory? c. What does the accountability of normative accounting theory? d, What does the accountability...
Describe the connections between leader accountability and how leaders hold people accountable for their actions? sustainability through accountability.

A friend tells you she has saved for 7 years and has a present sum of $10,000,

Question:

Step by Step Answer:

a P 10000PF228 ...View the full answer

Engineering Economy

Students also viewed these Business questions