What single payment six months from now would be equivalent to payments of $500 due (but not
Question:
What single payment six months from now would be equivalent to payments of $500 due (but not paid) four months ago, and $800 due in 12 months? Assume money can earn 3.9% compounded monthly.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Equivalent payment 6 mo...View the full answer
Answered By
Mahesh G
I have more than 7 years of experience in teaching physics, mathematics and python programming to more than 600 students including both online and offline tutoring.
I follow the following 7 step fundamental approach towards tutoring.
1. Curiosity, scope, enlightenment of the topic in hand.
2. Problem Definitions and elaboration.
3. Requisite mathematics, analytical abilities and quantitative
aptitude.
4. Preparing Algorithms for problem statement.
5. Concepts with analogies and building algorithm.
6. Introspection and improvising.
7. Daily class wise Cheat sheets(its not cheating) for consolidation.
5.00+
1+ Reviews
10+ 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
-
What single payment one year from now would be equivalent to $2500 due in three months, and another $2500 due in two years? Money is worth 7% compounded quarterly.
-
What payment 2 years from now would be a fair substitute for the combination of 4 $1500 due (but not paid) 9 months ago and $2500 due in 4 1/2 years, if money can earn 2 9% compounded quarterly?
-
What payment 2 1/4 years from now would be a fair substitute for the combination of $1500 due (but not paid) 9 months ago and $2500 due in 44 years from now, if money can earn 3.5% compounded...
-
2. Cash basis $(3,400)Fantastic Catering completed the following selected transactions during May 2016: May 1 Prepaid rent for three months, $1,800. 5 Received and paid electricity bill, $200. 9...
-
An insulated piston-cylinder device initially contains 0.01 m3 of steam at 200C. The force on the piston is such that it maintains a constant pressure of 400 kPa inside. A valve is then opened and...
-
Blackwood Industries manufactures die machinery. To meet its expansion needs, it recently (2017) acquired one of its suppliers, Delta Steel. To maintain Deltas separate identity, Blackwood reports...
-
Below is selected financial data extracted from the accounting records of Sustainable Clothing Pty Ltd for the year ended 30 June 2025. Required (a) Prepare a cost of goods manufactured statement for...
-
On February 1, 2007 Edwards Corporation purchased a parcel of land as a factory site for $50,000. It demolished an old building on the property, and began construction on a new building that was...
-
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care...
-
Lancelin Manufacturing has a target debt-to-equity ratio of 35. It only has ordinary share for its equity, its cost of equity is 12 percent. and its pre tax cost of debt is o percent. The tax rate is...
-
A college has targeted an enrollment increase of 8% per year. If the college has 18,000 full-time students today, what is the enrollment estimate in six years from now? Round your answer to the...
-
How much more interest would Aman earn on an investment of $150,000 for ten years if he is able to negotiate a rate of 6% compounded monthly instead of the advertised rate of 5.4% compounded monthly?
-
You are the vice president of International Info change, headquartered in Chicago, Illinois. All shareholders of the firm live in the United States. Earlier this month, you obtained a loan of 5...
-
Find 3 S 4x dx using the substitution x=2 sin 0.
-
Sam's Apple Farm is looking for forecasting help in trying to calculate the harvest. Here are the numbers from the last 6 harvests: (Year 1 is 2014, Year 2 is 2015... Year 6 is 2019). (Bushels are...
-
Give two examples of a specialty where medical devices are used.
-
Assume at December 31, 2020, Kraft Heinz Foods Inc. reported the following amounts (in millions) in its financial statements: 2020 2019 Total Assets $ 12,920 $ 11,600 Total Liabilities 9,044 7,888...
-
In 2005, Toys "R" Us was taken private in a leveraged buyout by a group of private equity firms. The LBO appears to be a powerful but risky tool. Can you discuss the effects of LBO on the capital...
-
On January 1, 2019, Evers Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $48,000. Related expenditures included: sales...
-
The Heese Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last week, Heeses purchased and used 101,000 pounds of potatoes at a price of $ 0.70 per...
-
a. Data from a matched pairs experiment were recorded. Use the sign test to determine whether the population locations differ. b. Repeat Part (a) using the Wilcoxon signed rank sum test. c. Why do...
-
Exercise 2.64 described the survey the Red Lobster Restaurant chain conducts to monitor the performance of individual restaurants. One of the questions asks customers to rate the overall quality of...
-
Exercises 2.33 and 2.49 described a survey that took a random sample of 285 graduating students and asked each to report which of the following is their favorite light beer: 1 =Bud Light, 2 = Busch...
-
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...
-
The following condensed information was reported by Peabody Toys, Incorporated, for 2024 and 2023: Income statement information Net sales Net income Balance sheet information Current assets Property,...
-
A bond with face value of $1,000 has annual coupons, promised coupon rate of 8%, and 5 years to maturity. Investors require an expected return of 5% from this bond. The probability of default is 2%...
Study smarter with the SolutionInn App