Bob has money in an investment with 4% that compounds 10 times a year. His initial investment

Fantastic news! We've Found the answer you've been seeking!

Question:

Bob has money in an investment with 4% that compounds 10 times a year. His initial investment was $2875.00, and now has $4117.86. How many years has interest been accruing? Round your answer to three decimal places.

Related Book For answer-question

Accounting What the Numbers Mean

ISBN: 978-1260565492

12th edition

Authors: David Marshall, Wayne McManus, Daniel Viele

See More Books

Posted Date: May 19, 2023 05:36 AM

See More Questions

Blanche bought a 5-year CD for $7100 with an APR of 2.8%, compounded quarterly, but she wants to take all her money out 9 months early. The early redemption fee for the CD is 3 months' interest on...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
In March 2012, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF promised to repay the owner of one of these securities $500 in March...
Based on the following definitions, which statement is NOT true? int[] 1DArray={1,2,3}; int[][] 2DArray=new int[2][]; 2DArray[0]={4,5}; 2DArray[1]={6,7,8}; public void method1(int[] 1DArray){...}...
George Wilson dies on March 1, 2011, leaving a valid will. The will reads as follows: I leave my home, furnishings, remaining bank account balances and personal possessions to my wife Helen. I leave...
How does incremental budgeting differ from program planning budgeting? How does it differ from zerobased budgeting?
Red Sky Delivery performs last-mile delivery services for online retailers such as Amazon. Red Sky employs delivery drivers who deliver packages to individual residence and business locations from a...
Lisbeth makes the following interest-free loans during the year. The relevant Federal interest rate is 5%, and none of the loans are motivated by tax avoidance. All of the loans were outstanding for...
Find at least three potentially problematic data entries (cells) in this table, and decide how you would choose to address them. Would you remove the whole row? Somehow try to guess what the answer...
Conduct a Pareto analysis for the number of minutes that flights are late in the accompanying data. Interpret the results. E Click the icon to view the Atlanta Airline Data. Conduct a Pareto analysis...
In your own words, briefly explain the concept of 'benchmarking' in the context of financial management The process in place to monitor and control costs against the budgets should have the following...
In the recording of Krispy Kremes roundtrip transactions, equipment sales were made to a franchisee shortly before the reacquisition of the franchise and the sales price of the equipment was deducted...
In the case of Edison Schools, explain why the SEC issued an AAER even though it did not find that Edisons revenue recognition practices did not contravene GAAP.
Krispy Kremes internally appointed independent investigation into its business practices concluded that the companys accounting errors were intentional. True/False
In the case of Edison Schools, Inc., its inadequate disclosure did not affect the amount of net ____________ it reported.
Krispy Kremes internal investigation revealed each of the following accounting errors except: (a) The misallocation of compensation expenses to franchise reacquisition costs. (b) The creation of...
Choose the exact meaning of the idiom/phrase. "A fool's paradise" Options: 1) A paradise of idiots 2) A state of happiness based on false hope. 3) To live in the past. 4) To have happy dreams
Which of the following statements is false? a. Capital leases are not commonly reported in a Capital Projects Fund. b. A governmental entity may report a Capital Project Fund in one year but not the...
Morrison & Company incurred the following costs during August: Raw materials purchased ............................................................. $66,150 Direct labor ($15 per hour)...
Following is a statement of cash flows (indirect method) for Hartford Inc. for the year ended December 31, 2020. Also shown is a partially completed comparative balance sheet as of December 31, 2020...
Refer to the information presented in Mini- Exercise 6.3. Assume that Gandolfi Construction Co. calculated depreciation expense for the CAT 336DL earth mover on the straight-line method and reported...
Individually identify what you consider to be the greatest achievements accomplished by human kind in the last decade. Now share your list with other students in the class and come up with an...
What are the differences between a framework, a methodology and a standard?
What are the PMI and PRINCE2?

Bob has money in an investment with 4% that compounds 10 times a year. His initial investment

Question:

Expert Answer:

A P1 rnnt Where A Total sum P is the original investments principal r is the annu... View the full answer

Accounting What the Numbers Mean

Students also viewed these finance questions