You want to establish a savings fund from which a community organization could draw $1,000 a year

Question:

You want to establish a savings fund from which a community organization could draw $1,000 a year for 20 years. If the account earns 2 percent, what amount would you have to deposit now to achieve this goal?

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

Step by Step Answer:

Related Book For book-img-for-question

Personal Finance

ISBN: 9781264101597

14th Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart

See More Books

Question Posted: Nov 10, 2023 10:02 PM

See More Questions

Hal Thomas wants to establish a savings fund from which a community organization could draw $800 a year for 20 years. If the account earns 6 percent, what amount would he have to deposit now to...
Hal Thomas wants to establish a savings fund from which a community organizationcould draw $800 a year for 20 years. If the account earns 3 percent, what amount would he have to deposit now to...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
f is continuous, but not necessarily differentiable, has domain [0, 6], reaches a maximum of 6 (attained when x = 5), and a minimum of 2 (attained when x = 3). Additionally, x = 1 and x = 5 are the...
Kawasaki Corporation borrowed $50,000 on November 1, 2008, by signing a $51,125, 3-month, zero-interest-bearing note. Prepare Kawasakis November 1, 2008, entry; the December 31, 2008, annual...
The more a conflict escalates, the ___________ it is to reverse. a. easier b. more difficult c. more fun d. simpler
The entropy change of a system is zero in a/an (a) Reversible process (b) Isochoric process (c) Isobaric process (d) Reversible adiabatic process.
Zelmer Company manufactures tablecloths. Sales have grown rapidly over the past 2 years. As a result, the president has installed a budgetary control system for 2012. The following data were used in...
The female visitor has been escorted to a small room, which is bare of all decorations and furniture, except for a small, white rectangular table and three unpadded chairs. You have been briefed on...
f. If there were $800 of dividends declared but not yet received by Maloney Co's from their investments, what adjustment would need to be made to Maloney's revenue?
Brenda plans to reduce her spending by $80 a month. Calculate the future value of this increase in savings over the next 10 years. (Assume an annual deposit to her savings account and an annual...
Bill and Sally Kaplan have an annual spending plan that amounts to $39,500. If inflation is 3 percent a year for the next three years, what amount will the Kaplans need for their living expenses...
How should the organisation evaluate Mr Powers assignment? Should local managers do it, or headquarters managers? Profits were higher before he was there and improved strongly after he left. Were...
Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Mar. 10 Inventory Purchase 40 units at $130 60 units at $140...
Explain the concept of objective function in linear programming and its significance in optimizing operational performance.
1. How is consumer buying power affected by wealth and consumer credit? 2. How is buying power measured? Why should it be evaluated? 3. What factors influence a consumers willingness to spend? 4....
Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 0 to 1,600 units, and monthly production...
1. Firm Profit More has recently conducted a series of analyses into their productivity by examining its average costs per subscriber and volume of subscribers. The executives are now looking into...
According to the U.S. Army Corps of Engineers, the top 20 U.S. ports, ranked by total tonnage (in million tons), were as follows. Port ..............Total Tonnage South Louisiana, LA .......229.0...
The process of collaborative goal setting by a manager and subordinate, the extent to which goals are accomplished is a major factor in evaluating and rewarding the subordinate's performance. It is...
For certain procedures, a fee-for-service plan agrees to pay the physician a UCR fee. What does UCR stand for and how is this fee determined?
Which health insurance plans allow you to choose your primary care physician?
Name the two government programs that provide health care benefits. Which one is run entirely by the federal government?
5. Bacterial endotoxins are a. proteins in the cell wall. b. secreted into the environment. c. components of the gram-positive cell wall. d. components of the gram-negative cell wall. 6. When a...
1. Which type of symbiosis benefits both members? a. Mutualism b. Parasitism c. Commensalism d. Pathogenesis 2. The mold that produces penicillin is an example of a. parasitism. b. mutualism. c....
Required information (Algo) Change in estimate; useful life and residual value of equipment Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $54,000. The computer was...

You want to establish a savings fund from which a community organization could draw $1,000 a year

Question:

Step by Step Answer:

To compute the present value of a future value we ca...View the full answer

Personal Finance

Students also viewed these Business questions