Question: 5. Please help me practice this I can't seem to get the correct answer How much would you need to deposit in an account now

5. Please help me practice this I can't seem to get the correct answer

How much would you need to deposit in an account now in order to have $6000 in the account in 10 years? Assume the account earns 4% simple interest. Round your answer to the nearest cent. Check

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

could you please help me solve this question with explanation how to get the correct answer ? On January 1, 2019, Monica Company acquired 70 percent of Young Company's outstanding common stock for...

8. Please help me practice this I can't seem to get the correct answer Question 8 4P A bank features a savings account that has an annual percentage rate of 3% with interest compounded monthly. Lola...

Please help! No one can seem to get the correct answer. Derek will deposit $1,942.00 per year into an account starting today and ending in year 8.00. The account that earns 7.00%. How much will be in...

6. Please help me practice this I can't seem to get the correct answer If $8,000 is invested in an account for 25 years. Calculate the total interest earned at the end of 25 years if the interest is:...

Century-Fox Corporation's employees are eligible for postretirement health care benefits after both being employed at the end of the year in which age 60 is attained and having worked 20 years. Jason...

4. Please help me practice this I can't seem to get the correct answer Question 4 4 pts Joy wants to invest $6800 in a savings account. Determine the interest rate (simple interest) required for Joy...

7. Please help me practice this I can't seem to get the correct answer Suppose you invest $4300 in an account with an annual interest rate 12% compounded monthly (1% each month). Use this information...

2 This worksheet was designed to teach you how to work TVM, Stock and Bond problems and equations in Excel Worksheet Instructions This is stool to help you learn how to enter formules into extel to...

Responsibility Center Presentation Imagine you have been selected by your manager to present a training session to a group of new employees. The new hires do not have accounting backgrounds and have...

I need help with answer number 6. The question is answered but I need to show the formula and I can't seem to get it correct. Could you please help? Question 4 41% 41% 4 points Off-The-Books...

Equipment bought by Wilson Steam Generating Company 3 years ago was charged to equipment expense in error. The cost of the equipment was $100,000, with no expected salvage value and a 10-year...

Complete the check stub for the check you wrote in Exercise 4 if the balance brought forward is $2, 213.56 (Figure 4 - 22). Figure 4 - 22 3215 Amount To For Date 20- Balance Forward Deposits Total...

Some administrative agency investigations lrad to a formal complaint being filed againat a business. This may roulr in a trial heard by an adminisuative law judee ( ALJ ) . AL . / s are: are...

Presented below is a list of accounts from the general ledger of Last Chance Bookstore. Please prepare a classified balance sheet for December 31 of the current year. Accounts Receivable Investments...