Question: could someone help with this question please How much money must Mathew deposit into a bank account yielding 7% (compounded monthly) in order to have

could someone help with this question please How much money must

could someone help with this question please

How much money must Mathew deposit into a bank account yielding 7% (compounded monthly) in order to have $675,000 at the end of eight years Select one: a. $356,679 b. $331,190 c. $392.856 d. $386,194

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 Accounting Questions!

How much money must Mathew deposit into a bank account yielding 18% (compounded monthly) in order to have $815,000 at the end of eleven years Select one: a $145,108 b. $127,270 c. $131,964 d....

ASSIGNMENT #1 The purpose of this assignment is to solidify your understanding on the applications of the time value of money. The scores of this assignment will help in assessing the following...

he purpose of this assignment is to solidify your understanding on the applications of the time value of money. The scores of this assignment will help in assessing the following learning goal of the...

Assignment Problems 1. On the day Saffron was born, her parents put $36,000 into an investment account that promises to pay a fixed interest rate of 11 percent per year. How much money willshe have...

for each question, each of the 4 steps must be done. 1. On the day Saffron was born, her parents put $36,000 into an investment account that promises to pay a fixed interest rate of 11 percent per...

1. On the day Saffron was born, her parents put $2,500 into an investment account that promises to pay a fixed interest rate of 8 percent per year. How much money will she have in this account when...

pls solve question 3 and 4 1. On the day Saffron was born, her parents put $2,500 into an investment account that promises to pay a fixed interest rate of 8 percent per year. How much money will she...

1. Profit maximisation does not adequately describe the goal of the firm because: A. profit maximisation does not require the consideration of risk B. profit maximisation ignores the timing of a...

How much money must be put into a bank account yielding 6.50% (compounded monthly) in order to have $1,550 at the end of seven years? Round to two decimal places. I'm not sure if I have to change the...

Instructions: You are required to use a financial calculator or spreadsheet (Excel) to solve 10 problems (provided on page 3) on the applications of the time value of money. You are required to show...

The commercial activity of "Bank of America" begins on March 1, 2019 with a capital of $ 200,000.- divided into 20,000 shares of $ 10 each, whose partners Christina Paul and Charles prinston agree to...

3. Virtual/remote/online teaching /learning has gained prominence with the outbreak of the Coronavirus disease COVID-19 pandemic and the attendant closure of educational institutions for...

Net sales in order from 1 - 1 2 : 5 0 , 0 0 0 , 8 0 , 0 0 0 , 1 0 0 , 0 0 0 , 6 5 , 0 0 0 , 1 2 5 , 0 0 0 , 1 1 0 , 0 0 0 , 1 5 0 , 0 0 0 , 1 8 5 , 0 0 0 , 3 5 0 , 0 0 0 , 2 8 0 , 0 0 0 , 2 4 4 , 0 0...

Question 8 Which of the following column properties would be used to specify that cells in a colurnn must contain a monetary value? A Null status B Data type Default value Data constraints