Brenda Young desires to have $20,000 eight years from now for her daughters college fund. If shewill

Question:

Brenda Young desires to have $20,000 eight years from now for her daughter’s college fund. If shewill earn 4 percent (compounded annually) on her money, what amount should she deposit now?

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: 978-1259720680

12th edition

Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart

See More Books

Question Posted: May 30, 2018 04:20 AM

See More Questions

Brenda Young desires to have $10,000 eight years from now for her daughter's college fund. If she will earn 7 percent (compounded annually) on her money, what amount should she deposit now? Use the...
Calculate and rank the equivalent values eight years from now of the following cash flow streams: (i) A single payment of $5000 today. (ii) An ordinary annuity starting today with eight annual...
What is the future value eight years from now of each of the following cash-flow streams if money can earn 9% compounded semiannually? a. A single payment of $5000 today. b. An ordinary annuity...
This histogram shows the times, in minutes, required for 25 rats in an animal behavior experiment to successfully navigate a maze. Which of the following best describes the shape of the histogram? A....
Write the slope-intercept form of the equation of the line that has the given slope and y-intercept. Then graph the line. 1. Slope 1/2 and y-intercept -3 2. Slope 4 and y-intercept 2 3. Slope -2 and...
Use your knowledge of directing effects, along with the following data, to deduce the directions of the dipole moments in aniline andBromobenzene. Br- -NH2 Br- -NH2 H = 1.52 D H = 2.91 D A= 1.53 D
Mr. Jones was considering a new grapefruit venture that would generate a random sequence of yearly cash flows. He asked his son. Gavin, "People tell me I should use a cost of capital figure to...
Contrast simulation to other risk analysis tools. What are its advantages and disadvantages? If you were to do an important risk analysis, which tool would you prefer?
Part B (i) Four years ago, you purchased a 10 year bond issued by Blinken International, a global supplier of food additives for Year Expected payments What was your expected return (%/year)? $44,950...
The following table summarizes the operating results for Bene Petits first year of operations: Bene Petit First year operating data: Single (1 serving) Dual (2 servings) Family (4 servings) Total...
If a person with a 28 percent tax bracket makes a deposit of $5,500 to a tax deferred retirement account, what amount would be saved on current taxes?
What amount would you have if you deposited $2,500 a year for 30 years at 8 percent (compounded annually)?
Martell Mining Companys ore reserves are being depleted, so its sales are falling. Also, because its pit is getting deeper each year, its costs are rising. As a result, the companys earnings and...
Solved using python. Assume that (x, y, z) are nx 1 column vectors and {A, B, C} are n x n real-valued matrices, O is the zero matrix of appropriate size, and I is the identity matrix of appropriate...
This is the error I'm getting for this problem: File "C:\Users\User\OneDrive\Desktop\F\FinalProject.py", line 103, in determining hours credits = int(fields[1]) IndexError: list index out of range ...
Write the pseudo-code for a string-matching algorithm of your choice. Note that it is perfectly fine if you choose either the Bruteforce or Rabin-Karp algorithm which were discussed in class. If you...
In March of 2023, Goldman Sachs published a report., indicating that ~25% of the tasks in US and Europe can be automated using AI. However, not all industries will be affected equally. According to...
1. Assuming that 0mnlen(str1), how many characters are in stels) 2. What is displayed by the statement print ("Computer" .find('2'))! EXERCISES 2.2 In Exercises 1 through 4, determine the output...
State the following in the language you developed for the previous exercise: a. In situation S0, window W1 is behind W2 but sticks out on the left and right. Do not state exact coordinates for these;...
Kenneth Hubbard has prepared the following list of statements about managerial accounting and financial accounting. 1. Financial accounting focuses on providing information to internal users. 2....
Now that you have read the chapter on financial planning, what do you recommend to Austin for his talk with Rachel on the subject of financial planning regarding? 1. Setting financial goals? 2....
1. During sluggish economic times, the federal governments budgeting priority is to borrow so it can spend much more money than it takes in. What happens to families that try that, and why? 2. What...
1. Review the financial statements of Victor and Maria Hernandez (Table) and respond to the following questions: (a) Using the data in the Hernandezes balance sheet, calculate an investment...
Discuss the key features of the following associated with the financial service industry: Financial products and services of the organisation Financial agency agreements Financial industry codes of...
You are building an apartment complex with 80 three-bedroom units near the downtown office district. The designers estimate that there will be on average 3.5 occupants in each apartment. A. Calculate...
The field team sends an update to the project manager letting him know that there were 12 employees at the project site, there were no accidents this week and no issues to report, and that the team...

Brenda Young desires to have $20,000 eight years from now for her daughters college fund. If shewill

Question:

Step by Step Answer:

200...View the full answer

Personal Finance

Students also viewed these Business questions