In Problems 25-28, find the present value, using the present value formula and a calculator. Achieve ($
Question:
In Problems 25-28, find the present value, using the present value formula and a calculator.
Achieve \(\$ 225,500\) at \(8.65 \%\) compounded continuously for 8 years, 135 days.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
In order to calculate the present value well use the formula for compound interest which can be repr...View the full answer
Answered By
Rodrigo Louie Rey
I started tutoring in college and have been doing it for about eight years now. I enjoy it because I love to help others learn and expand their understanding of the world. I thoroughly enjoy the "ah-ha" moments that my students have. Interests I enjoy hiking, kayaking, and spending time with my family and friends. Ideal Study Location I prefer to tutor in a quiet place so that my students can focus on what they are learning.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Sciences questions
-
What are the function of the pancreas in the digestive system? (A) To secrete digestive enzymes (B) To regulate blood sugar levels (C) To absorb nutrients from the small intestine (D) To store bile
-
Select the scrnario depicting a conflict that is solely over competition for power and resources.
-
Using the original data from problem 5, find P0 by following the steps described. a. Project dividends for years 1 through 3 (the first year is already given). Round all values that you compute to...
-
Find a and b if, y= ax+b has mean 6 and variance is unity, where x is a random variable with mean 8 and variance 16.
-
If a cup of coffee has temperature 95 C in a room where the temperature is 20 C, then, according to Newtons Law of Cooling, the temperature of the coffee after minutes is T(t) = 20 + 75et/50 What is...
-
A mule is attempting to move a cart loaded with rock. Since the cart pulls back on the mule with a force equal in size to the force that the mule exerts on the cart (according to Newtons third law),...
-
Tennessee law imposes durational-residency requirements on persons and companies wishing to operate retail liquor stores, requiring applicants for an initial license to have resided in the state for...
-
Amanda M is a regional manufacturer and wholesaler of high-quality chocolate candies. The companys sales and collection process is as follows. Amanda M makes use of an enterprise-wide information...
-
Household income in marketing surveys is often reported in brackets: for example, under $15,000, $15,000$25,000, ... , over $95,000. (a) Suppose that household income is the outcome variable in a...
-
If \(\$ 12,000\) is invested at \(4.5 \%\) for 20 years, find the future value if the interest is compounded: a. annually b. semiannually c. quarterly d. monthly e. daily f. every minute g....
-
In Problems 25-28, find the present value, using the present value formula and a calculator. Achieve a million dollars in 30 years at \(6 \%\) interest compounded continuously.
-
In recent years, the number of people who use the Internet to obtain political news has grown. Often the political websites ask Internet users to register their opinions by participating in online...
-
Assume that we know that for the period 19262010 the yield component for common stocks was 3.99 percent and that the cumulative wealth index was $2,420.46. The cumulative wealth index value for the...
-
A questionnaire was sent to 500 of a dry cleaners customers to solicit their opinions about service received. Twenty-three customers were found to be unhappy with the service. On this evidence, can...
-
You are working for a VCR manufacturer. There are three shifts in the plant: morning shift, evening shift, and midnight shift. The manager suspects that the midnight shifts productivity is lower than...
-
The dean of the school of business wants the proportion of A grades given out by his faculty members to be around 10 %. He randomly surveys 2,000 students in 50 classes and finds that of the 2,000...
-
A food company claims that its new product, low-fat yogurt, is 99 % fat-free. The management wants to keep the proportion of bad (not 99 % fat-free) products below 2 %. Inspectors check 500 cups of...
-
Ingram is a Certified Public Accountant (CPA) employed by Jordan, Keller and Lane, CPAs, to audit Martin Enterprises, Inc., a fast-growing service firm that went public two years ago. The financial...
-
Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment...
-
It is a cold winter day in the authors neighborhood. One of the houses is heated with a reversible heat pump that uses the outside air as the cold reservoir. Suppose 40,000 J of energy are lost from...
-
A reversible heat pump operating between thermal reservoirs at 25C and 10C consumes 500 J of energy each second. How much heat energy is pumped into the house each second?
-
A heat pump operates between reservoirs at 293 K (inside the house) and 265 K (outside). It is not a reversible heat pump; it only pumps 75% of the maximum possible heat into the house. How much work...
-
The ball on the end of a cable follows the arc of a circle in the vertical plane. Currently it is swinging down the curve as shown. The tension in the cable is 2.5 times the weight of the ball for...
-
For a billing period, a manufacturing facility has 30mWh of peak energy usage and 15mWh of off-peak energy usage. Its highest 15-minute peak energy demand (during peak hours) was 80kW. Peak energy...
-
2. An elevator, as illustrated, is being lifted up an elevator shaft by a steel cable. Imagine you are standing on a scale in the elevator. What will the scale read when the elevator is moving up in...
Study smarter with the SolutionInn App