Hal Thomas wants to establish a savings fund from which a community organizationcould draw $800 a year
Question:
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 achievethis goal?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
800...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Personal Finance
ISBN: 978-1259720680
12th edition
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
A newly established firm wants to establish a pension plan for its employees. The firm hires you to prepare a report comparing a defined benefit pension plan with a defined contribution pension plan....
-
A wealthy alumnus wants to establish a scholarship that will pay $2,000 at the beginning of every school year. What amount is required to establish the scholarship if money can earn 7% compounded...
-
A major city in the northeast wants to establish a central transportation station from which visitors can ride buses to four historic landmarks. The city is arranged in a grid, or block, structure...
-
The graph of f is given. (a) Why is f one-to-one? f is one-to-one because it passes the ---Select--- ? (b) What are the domain and range of f ? ?1 ?(Enter your answers in interval notation.) domain ?...
-
According to the U.S. Census Bureau, the relation between the average annual earnings of males and females with various levels of educational attainment can be modeled by the function F = 0.78M -...
-
We have learned in this chapter that many ionic solids dissolve in water as strong electrolytes, that is, as separated ions in solution. What properties of water facilitate this process? Would you...
-
What is a self-locking machine ?
-
The town of Pleasantville is thinking of building a swimming pool. Building and operating the pool will cost the town $5,000 per day. There are three groups of potential pool users in Pleasantville:...
-
a- What is the output of implementing the class Entity2 in the following code class Entity1 { public Entity1() { } System.out.println("Entity1's no-arg constructor is invoked"); } class Entity3...
-
Pathfinder College is a small liberal arts college that wants to improve its admissions process. In particular, too many of its incoming freshmen have failed to graduate for a variety of reasons,...
-
Bill and Sally Kaplan have an annual spending plan that amounts to $36,000. If inflation is3 percent a year for the next three years, what amount will the Kaplans need for their living expenses three...
-
Kaye Blanchard is 50 years old. She has $30,000 of adjusted gross income and $8,000 of qualified medical expenses. She will be itemizing her tax deductions this year. How much of a tax deduction will...
-
What is the formula for computing activity-based overhead rates?
-
Today, an oil producer signs a contract to sell refinery RR 80,000 barrels of crude oil in 6 months at the spot price on that day. RR decides to hedge using NYMEX futures for delivery in 7 months...
-
3- Calculate the following integrals by using the transform of z = ei dx cos(x)+4 .2T a- -5 0 -2 dx b-So 6sin(x)+10 C- -2 dx cos (x)+0.5
-
1 The U.S. recently reduced the top statutory corporate tax rate from 35 percent to 21 percent. In addition, the U.S. changed from a global to a territorial tax system for multinational corporations....
-
A . Consider a large open economy Paperland exporting paper. Discuss the net welfare implications of an export tariff on paper imposed by Paperland with the help of a diagram. Is there any rationale...
-
The following table shows the expected return and standard deviation of the returns on assets A and B: A B 0 0,35 0,25 E(R) 0,30 0,25 Obtain the expected return and standard deviation of the returns...
-
Find the exact value of each of the remaining trigonometric functions of . cos 0 = 4 + lin 5' 270 < < 360
-
Illini Company, Inc. Balance Sheet as of 12/31/20X0 Assets Current Assets: Cash $1,500,000 Accounts receivable, net 18,000 Inventory 50,000 Total current assets 1,568,000 Equipment 90,000 Goodwill...
-
How long will it take to pay off a loan of $50,000 at an annual rate of 10 percent compounded monthly if you make monthly payments of $600?
-
Youve just bought a new flat-screen TV for $3,000 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 14 percent compounded monthly. If you take the...
-
Youve just bought a new flat-screen TV for $3,000 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 14 percent compounded monthly. If you take the...
-
What strategies can organizations employ to proactively identify and mitigate budgetary risks, such as cost overruns, revenue shortfalls, and unforeseen contingencies, in order to safeguard financial...
-
Determine if the following piecewise defined function is differentiable at x=0. f(x)= 3x-5, X0 x + 5X-5, X <0 What is the right-hand derivative of the given function? f(0+h)-f(0) lim h h0+ (Type an...
-
Consider the first order differential equation with initial condition t'+3t2y=2t, y(1)=16 where is a function of time t. 1 a. Show that y= + C +3 where C is an arbitrary constant, is the general...
Study smarter with the SolutionInn App