If you deposit $3,500 today into an account earning an 8 percent annual rate of return, what
Question:
If you deposit $3,500 today into an account earning an 8 percent annual rate of return, what will your account be worth in 35 years (assuming no further deposits)? In 40 years?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Your account will be worth 51749 in 35 years Factor Table A solution Calculator solution PV ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
Question Posted:
Students also viewed these Business questions
-
If you deposit $3,500 today into an account earning an 11 percent annual rate of return, what would your account be worth in 35 years (assuming no further deposits)? In 40 years?
-
It you deposit $3,500 today into an account earning an 11 percent annual rate of return, what would your account be worth in 35 years (assuming no further deposits)? In 40 years?
-
As part of your personal budgeting process, you have determined that in each of the next 5 years you will have budget shortfalls. In other words, you will need the amounts shown in the following...
-
Identify each of the following items relating to sections of a balance sheet as Current Assets (CA), Property and Equipment (PE), Current Liabilities (CL), Long-Term Liabilities (LTL), or Owners...
-
List all the coalitions in a game played by players named 1, 2, and 3. How many coalitions are there in a ten player game?
-
Solve the following system of linear simultaneous equations using matrix methods. x+2y+z+a = 4 x-2y+3z = 2 2x+y a = -3 a+z=2 -
-
Refer to the statements for Google in Appendix A. For the year ended December 31, 2015, what was its debt-to-equity ratio? What does this ratio tell us? Data From Statement Google In Appendix A...
-
Helix Company produces several products in its factory, including a karate robe. The company uses a standard cost system to assist in the control of costs. According to the standards that have been...
-
1.) Pineapple Inc. issued a common stock for $30,000 and ended the period with net cash from financing of -$5,000. If the only other financing company was a payment of cash dividend, what is the...
-
Table 1 shows Apple's online orders for the last week. When shoppers place an online order, several "recommended products" (upsells) are shown as at checkout an attempt to upsell See table 2 in cell...
-
Sarah Wiggum would like to make a single investment and have $2 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah...
-
Richard is 65 years old and about to retire. He has $500,000 saved to supplement his pension and Social Security and would like to withdraw it in equal annual dollar amounts so that nothing is left...
-
Velocity equal to the reciprocal of the distance, y(1) = 1
-
14) Using the fact that 1 mL = 1 cm, calculate how many liters are in a cubic meter. Note: The cubic centimeter is sometimes abbreviated as cc, particularly in chemistry and biology.
-
Implement the Queue Circular array and linked list implementation that study in the class. 1. For Queue Circular array implementation, set the Max queue to 5. After completed the codes, run the main...
-
Patrick and Maureen are married. They purchased their residence on August 10, 2008, for $100,000. On September 20, 2021, they had a loan outstanding on the home in the amount of $95,000 when the bank...
-
Deci Company manufactures a single product. During the month of November, 2,000 units were sold for $210, while 1,600 units were produced. Their November variable costing income statement showed the...
-
Explain Master's theorem and find the order of the following recurrence. T(n) = 37)+
-
On January 3, 2018, Matteson Corporation acquired 40 percent of the outstanding common stock of O'Toole Company for $1,160,000. This acquisition gave Matteson the ability to exercise significant...
-
How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...
-
You want to invest your savings of $ 20,000 in government securities for the next 2 years. Currently, you can invest either in a security that pays interest of 8 percent per year for the next 2 years...
-
You want to invest your savings of $ 20,000 in government securities for the next 2 years. Currently, you can invest either in a security that pays interest of 8 percent per year for the next 2 years...
-
If yields on Treasury securities were currently as follows: a. Plot the yield curve. b. Explain this yield curve using the unbiased expectations theory and the liquidity preference theory. TERM YIELD...
-
How do you integrate advanced communication and active listening skills to ensure clarity, understanding, and alignment among conflicting parties during negotiation and mediation processes?
-
How do you employ advanced storytelling techniques to convey complex concepts or abstract ideas in a compelling and memorable manner?
-
Describe a scenario where you demonstrated adept conflict resolution skills, utilizing advanced communication strategies to navigate contentious discussions and achieve mutually beneficial outcomes.
Study smarter with the SolutionInn App