Consider a $1,000 deposit earning 4 percent interest per year for 7 years. How much total interest

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

Question:

Consider a $1,000 deposit earning 4 percent interest per year for 7 years. How much total interest is earned on the original deposit (excluding interest earned on interest)?

Related Book For answer-question

Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

See More Books

Posted Date: Jun 29, 2022 03:17 AM

See More Questions

Consider a $2,000 deposit earning 8 percent interest per year for five years. What is the future value, and how much total interest is earned on the original deposit vs. how much is interest earned...
Consider a $5,000 deposit earning 10 percent interest per year for 10 years. What is the future value, how much total interest is earned on the original deposit, and how much is interest earned on...
On January 1, 2011, Albert invested $1,000 at 6 percent interest per year for three years. The CPI on January 1, 2011, stood at 100. On January 1, 2012, the CPI (times 100) was 105; on January 1,...
According to a study by the American Pet Food Dealers Association, 63% of U.S. house-holds own pets. A report is being prepared for an editorial in the San Francisco Chronicle. As a part of the...
Montclair Company is considering a project that will require a $500,000 loan. It presently has total liabilities of $220,000, and total assets of $610,000. 1. Compute Montclairs (a) Present...
What are some of the functions of the flux in submerged arc welding?
The adjusted trial balance for Destination Realty, Inc., at October 31, 2010, follows: Requirements 1. Prepare Destination Realtys income statement, statement of retained earnings, and year-end...
1. Why did Tescos initial international expansion strategy focus on developing nations? 2. How does Tesco create value in its international operations? 3. In Asia, Tesco has a long history of...
What is the FV of a 3-year $100 annuity, if the quoted interest rate is 10%, compounded semiannually? Please show the calculations in detail for Financial calculator
1. Create and upload a histogram of the salary data for the city of Bell, where each bar width is about 50,000 US dollars. (Data for the histogram is at the bottom). a.) Is the distribution of the...
Calculate the expected returns for Roll and Ross by filling in the following table (verify your answer by expressing returns as percentages as well as decimals): (Negative amounts should be indicated...
Why has outcomes measurement become the preferred approach in evaluation for United Way and many other funders? Conversely, why are many nonprofits less enthusiastic about this approach?
How does benchmarking contribute to improving organizational performance?
Of the four perspectives on need (normative, relative, perceived, expressed), which might present the greatest challenge in data collection and analysis? Why?
What are the pluses in using a logic model for program development? What are the minuses?
True or false? Explain: modularity reduces complexity because A. It reduces the effect of incommensurate scaling. B. It helps control propagation of effects.
Can a business make a non-taxable cash gift to employees or will the IRS always consider that has compensation income?
Without solving, determine the character of the solutions of each equation in the complex number system. 3x 2 3x + 4 = 0
Why is expected return considered forward-looking? What are the challenges for practitioners to utilize expected return?
Compute the NPV for Project M and accept or reject the project with the cash flows shown as follows if the appropriate cost of capital is 8percent. Project M Time 3 Cash Flo $1,000 $350 S480 S520...
What is the taxable equivalent yield on a municipal bond with a yield to maturity of 2.9 percent for an investor in the 28 percent marginal tax bracket?
Consider the common-base circuit in Figure 7.33 in the text. The transistor parameters are $\beta=90, V_{E B}(\mathrm{on})=0.7 \mathrm{~V}$, and $V_{A}=\infty$. A load capacitance of \(C_{L}=3...
For the circuit in Figure P7.39, the transistor parameters are: $K_{n}=$ $0.5 \mathrm{~mA} / \mathrm{V}^{2}, V_{T N}=2 \mathrm{~V}$, and $\lambda=0$. Determine the maximum value of $C_{L}$...
Consider the circuit shown in Figure 7.25(a). The bias voltages are changed to $V^{+}=3 \mathrm{~V}$ and $V^{-}=-3 \mathrm{~V}$. The load resistor is $R_{L}=20 \mathrm{k} \Omega$. The...

Consider a $1,000 deposit earning 4 percent interest per year for 7 years. How much total interest

Question:

Expert Answer:

Future value using simple interest for... View the full answer

Finance Applications and Theory

Students also viewed these general management questions