Question: Derek will deposit $ 7 , 1 5 4 . 0 0 per year for 1 4 . 0 0 years into an account that

Derek will deposit $7,154.00 per year for 14.00 years into an account that earns 5.00%, The first deposit is made next year. He has $18,428.00 in his account today. How much will be in the account 47.00 years from today?

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 Finance Questions!

Q:

4) K & R Lollies Ltd earned $750,000 gross income during the financial year from its confectionery manufacturing business. The cost of inputs to the manufacturing process was $290,000 and other...

Q:

3)Jessie receives a dividend payment of $5,600 from her investment in the shares of Jumpin' Joes Ltd. The shares are only 60% franked. What is the grossed-up amount of this dividend payment that...

Q:

To complete your last year in business school and then go through law school, you will need $ 1 5 , 0 0 0 per year for 4 years , starting next year ( that is , you will need to withdraw the first $ 1...

Q:

Please include all formulas and formatting used in instructions or an excel file to compare. Step Instructions Points Possible Open exploring_e07_grader_h1_Apartment.xlsx and save it as...

Q:

Question 1 Janet is 35 years old, and she has decided it is time to plan seriously for her retirement Although $10,000 is the most she can save by the end of first year, she expects her salary to...

Q:

\fThis is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does...

Q:

Revenue Management at The View Sheryl E. Kimes Shirley Tan, the Manager of The View, a popular bar in Sydney, has been charged with figuring out how to apply revenue management principles to The...

Q:

Time value of money: What is the present value of an annuity that pays $344 each year for the next 7 years if the discount rate is 17% ? (Provide your answers in dollars and round to two decimal...

Q:

A woman desires to have $400,000 in a savings account when she retires in 20 years. Because of the effects of inflation on spending power, she stipulates that her future "nest egg" will be equivalent...

Q:

8-16. A woman desires to have $400,000 in a savings account when she retires in 20 years. Because of the effects of inflation on spending power, she stipulates that her future nest egg will be...

Q:

List three alternatives to equity incentives for key managers.

Q:

The graph shows the position function of a car. Use the shape of the graph to explain your answers to the following questions. (a) What was the initial velocity of the car? (b) Was the car going...

Q:

Dorrentakempt in Progress Irventory information for Part 3 1 1 of Crane Corp discloses the following information for the month of June: \ table [ [ Jure 1 , Balance, 4 4 0 units $$ 1 , June 1 0 ,...

Q:

SIMAD UNIVERSITY Class: BACC25 Subject: Islamic Accounting Instructions: a) Follow The Instructions. Midterm Exam Instructor: All Ibrahim Date: 6-4-2022 b) You Have 1.5 Hrs. To Complete This Test. c)...

Q:

9-10 In this exercise, youll use database software to develop an application that tracks customer service requests and analyzes customer data to identify customers meriting priority treatment. Prime...

Q:

9-13 Why did WIM feel the need to implement an ERP system? Welding Industries Malaysia (WIM) is the only local Malasian company that manufactures welding machines for commercial use. WIMs remarkable...

Q:

9-17 What are 3 reasons why a company would want to implement an enterprise resource planning (ERP) system and two reasons why it might not want to do so.