Marion's grandfather's will established a trust that will pay her $1500 every three months for 11 years.
Question:
Marion's grandfather's will established a trust that will pay her $1500 every three months for 11 years. The first payment will be made 6 years from now, when she turns 19. If money is worth 3.5% compounded quarterly, what is today's economic value of the bequest?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
Todays economic value of the future payments is th...View the full answer
Answered By
GERALD KAMAU
non-plagiarism work, timely work and A++ work
4.40+
6+ Reviews
11+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Marions grandfathers will established a trust that will pay her $1500 every three months for 11 years. The first payment will be made six years from now, when she turns 19. If money is worth 6.5%...
-
If money is worth 8% compounded quarterly, how long (to the nearest day) before a scheduled payment of $6000 will $5000 be an equivalent payment? For the purpose of determining the number of days in...
-
If money is worth 6% compounded annually, what amount today is equivalent to $10,000 paid: a. 12 years from now? b. 24 years from now? c. 36 years from now?
-
Multiple Choice 1. Which of the following concepts are pervasive in the application of generally accepted auditing standards, particularly the standards of field work and reporting? a. Internal...
-
A refrigerator uses R-134a as the working fluid and operates on an ideal vapor-compression refrigeration cycle between 0.15 MPa and 1 MPa. For a cooling load of 10 kW, determine the mass flow rate of...
-
Staples sells CDs ( $ 2 , 0 0 ) and box s of computer Paper ( $ 3 ) . If total sales Were $ 1 , 5 6 0 and customers bought 5 times as many CDs as boxes of compute paper how many obs were sold?,
-
An investor with unit wealth maximizes the expected value of the utility function $U(x)=a x-b x^{2} / 2$ and obtains a mean-variance efficient portfolio. A friend of his with wealth $W$ and the same...
-
Assume that Whee, Cheatham, and Howe is an auditing firm that has found that its summer interns are subject to a 90 percent learning curve for one of its important tasks, proofreading financial...
-
Select each quadratic equation in x with no solutions. (x+3) = 0 x+x+3=0 x-x+3=0 x = 0 x - 3 = 0 x+3=0 (x-3) = 0
-
If the peg at B is smooth, determine the components of reaction at the pin A and fixed supportC. 500 N 600 mm- -600 mm- 800 mm 45 900 N-m
-
A city sells plots in its cemetery for $1000 plus an amount calculated to provide for the cost of maintaining the grounds in perpetuity. This cost is figured at $25 per plot due at the end of each...
-
A $65,000 loan, bearing interest at 8% compounded quarterly was repaid, after a period of deferral, by quarterly payments of $3821.85 over 10 years. What was the time interval between the date of the...
-
Refer to Practice 20-12. Assume that in addition to failing to record the purchase, the company also failed to include the inventory in the ending inventory count. Make the correcting entry necessary...
-
this is java: Main.javause onlinegdb.com to create the codeplease show the picture of the code Write a Person class with the following attributes: Name Age The class person should have constructors,...
-
Implement a function that determines if there is a path between two nodes in a directed graph. The graph will be represented as an adjacency list, and the function should return a boolean value...
-
Refer to the following declarations. public class Point { private double myX; private double myY; // postcondition: this Point has coordinates (0, 0) public Point() { /* implementation not shown...
-
In the code we have the ElectricPowerSwitch class with a field referencing LightBulb . We see specifics of the light bulb all through the ElectricPowerSwitch . Our switch can now turn on and off the...
-
Hello, I need to correct this code with this feedback and add The inheritance semantics is incorrect because Triangle IS-NOT AreaCalculation but a Shape. Likewise, Square IS-NOR AreaCalculation but a...
-
Discuss the underlying concern to tax policy makers in distributions in which a partner receives more or less than his share of the partnership hot assets.
-
Integration is a vital concept when applied in one?s life. Integrating your life means making ideal choices. Perfect choices on the other go in line with quality decisions. Quality decisions lead to...
-
Compare the means of each pair of groups using the Bonferroni method? Pulmonary Disease Twenty-two young asthmatic volunteers were studied to assess the short-term effects of sulfur dioxide (SO 2 )...
-
Is a fixed-effects or a random-effects ANOVA appropriate here? Hypertension Automated blood-pressure measuring devices have appeared in many banks, drugstores, and other public places. A study was...
-
Test whether the mean difference is consistent over all four locations? Hypertension Automated blood-pressure measuring devices have appeared in many banks, drugstores, and other public places. A...
-
6. Consider the following algorithm. Give a function with one term and coefficient 1 g(n) such that the running time of this algorithm is (g(n)), and briefly explain. public static int funkySum...
-
In the diagram, let U = {all objects}, B = {all students who live in Hartford}, = {students majoring in math}, and R = {students taking a course with Professor Antonio} B M 1 2 3 5 + 6 7 8 R In which...
-
Risk Identification: Disruption Disruption Assessment: Assessment: Risk Risk Probability Risk 1: Cyberwarfare 1 Consequence 5 Risk 2: Natural 1 5 Diaster Risk 3: Supplier 2 2 closure Risk 4:...
Study smarter with the SolutionInn App