Britney invested $4000 in a CD at TTYL bank that pays 1.4% interest compounded monthly. how much

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

Question:

Britney invested $4000 in a CD at TTYL bank that pays 1.4% interest compounded monthly. how much will she have in her account at the end of the year?

Related Book For answer-question

Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

See More Books

Posted Date: May 04, 2023 05:16 AM

See More Questions

Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year compounded monthly. A. The present value is $28,948.67. B. The present value is $29,433.94. C. The present value...
Hospital Supply Inc produces hydraulic hoists that were used by hospitals to move bedridden patients. The costs of manufacturing and marketing hydraulic hoists at the companys normal volume of 3,000...
Outline the following problems. 1- You of each of the next 5 years in a savings account paying 6% compounded annually, how much will you accumulate after 5 years? 2- James Smith has a 4-year ordinary...
Dew Company employs standard costing and applies overhead based upon machine labor hours. Monthly production is scheduled at 500 units. Standard and actual data for the month is as follows: Standards...
Cis-1, 2-Dichloroethylene and trans-dichloroethylene are isomers, compounds with the same formula but different chemical structures. Look at the following electrostatic potential maps, and tell...
Consider the models \[ \begin{aligned} y & =\beta_{0,0}+\epsilon_{0} \\ y & =\beta_{0,1}+\beta_{1,1} x_{1}+\epsilon_{1} \\ y & =\beta_{0,2}+\beta_{1,2} x_{1}+\beta_{2,2} x_{2}+\epsilon_{2} \\ y &...
For the following data set: a. Construct the multiple regression equation y = b0 + b1x1 + b2x2 + b3x3. b. Predict the value of y when x1 = 1, x2 = 4.5, x3 = 6.2. c. What percentage of the variation...
Clearview Company manufactures and sells high-quality television sets. The most popular line sells for $1,000 each and is accompanied by a three-year warranty to repair, free of charge, any defective...
Identify two important quality factors. Define those two factors and develop a quality plan. Include quality assurance methods for this project as well as how you would control it. What tools would...
1. As part of your college experience, do you think you would benefit from participating in a campus ambassador or campus rep program? Why or why not? 2. In what ways would participating in a campus...
Explain how leaders could make improvements in your/their decisions? How could the result in better decisions and results? How can anyone accept their mistake and move on?
The shareholders' equity section of the balance sheet of TNL Systems Incorporated included the following accounts at December 31, 2023: Shareholders' Equity Common stock, 260 million shares at $1 par...
How do non-linear finite element analysis techniques contribute to understanding the failure mechanisms in complex structural systems ?
What are the retail banking liabilities product based on Maslow theory of needs hierarchy?
Do you think access controls differ among private industries, such as retail, banking, and manufacturing? Why or why not?
Shamrock Industries had one patent recorded on its books as of January 1, 2025. This patent had a book value of $202,100 and a remaining useful life of 8 years. During 2025, Shamrock incurred...
Ansy Arts provides two types of art classes: Pottery classes and Oil Painting classes. The owner, Arthur An, has decided to use activity-based costing method to compute the cost for Ansy Arts...
Using the parallel-axis theorem, determine the product of inertia of the area shown with respect to the centroidal x and y axes. 6 in. 9 in. 9 in- 4.5 in. in. 4.5 in.
Here are the expected cash flows for three projects: a. What is the payback period on each of the projects? b. Given that you wish to use the payback rule with a cutoff period of 2 years, which...
You purchase 100 shares of stock for $40 a share. The stock pays a $2 per share dividend at year-end. a. What is the rate of return on your investment if the end-of-year stock price is (i) $38; (ii)...
Read the following passage and fit each of the following terms into the most appropriate space: financing, real, bonds, investment, executive airplanes, financial, capital budgeting, brand names....
The Chinese Motor Company The Chinese Motor Company runs a UK branch and a China branch. Both branches run three departments for sales, car servicing and the sale of parts. Advise the management of...
The Depreciation Company The directors of the Depreciation Company are deciding on their accounting policy on the depreciation of their non-current assets. They have just purchased some new assets...
Profit figures are wanted by so many different groups of people for so many different purposes that it is not possible to define and measure profits in such a way as to meet all of those different...

Britney invested $4000 in a CD at TTYL bank that pays 1.4% interest compounded monthly. how much

Question:

Expert Answer:

we can use the formula FV PV x 1 rnnt where FV is the future value PV is the present value r is the ... View the full answer

Fundamentals of Corporate Finance

Students also viewed these finance questions