Question: Find the compound amount for $6274.90 at 19.40 % compounded annually for 28 years. Answer explanation.

Find the compound amount for $6274.90 at 19.40 % compounded annually for 28 years.

Answer explanation.

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:

Thayer Farm trust made a farmer a loan of $1, 200 at 16% for three years compounded annually. Find the future value and the compound interest paid on the loan. Compare the compound interest with...

Q:

Why do financial managers have difficulty applying CAPM in decision making? Generally, what benefits does CAPM provide them?

Q:

1. Calculate Periodic Interest Rate (i) and Compounding periods (n) Nominal interest (j) Compounding Frequency (m) Periodic Interest Rate (i) Term Compounding periods (n) 6% Annually 5 years 7.2%...

Q:

Find the compound amount for $6274.90 at 19.40 % compounded annually for 28 years.

Q:

I need help with these few questions. Each screenshot has the page number along with the number for each Question i need answered. Please include the number of page and question number in the answers...

Q:

Question 15 --/4 Find the interest amount from Problem #14 after using the FVF = (1 + i)" equation. (The results for these two problems should be similar.) Type your answer Question 16 --/4 Find the...

Q:

pls provide detailed solutions and formulas thank you 10. 11. 12. 13. 14. . Accumulate 5.300 for 5 years and 9 months at 5 16% compounded quarterly Find the compound amount and interest on 6,100 for...

Q:

Answer the following 3 questions: How many years will it take to double your money at 12% interest? How many years will it take to double your money at 6% interest? What interest rate is required to...

Q:

Learning Task 1: Answer the questions below. Write your answers in your notebook or answer sheet. 1. Which principal amount simple interest is always calculated on? 2. What is the difference between...

Q:

What is the effective interest rate for the rst year for a loan of $20,000 for three years if the interest is compounded quarterly at a rate of 12%? Instructions: Week 5 Individual Assignment Total...

Q:

The future value of $7,000 deposited today and compounded semiannually at an 9% annual interest rate for five years is $9,955. O $7,920. $10,871. $9,520

Q:

Office Oulet LTD. produces and sells printing products across Canada. Last year, sales volume totaled $850,000. Volume for the first five months of the current year totaled $600,000, and sales were...

Q:

A right inverted circular cone has height of 1 4 meters and base radius of 3 meters. How much work does it require to pump all water out of the top of the tank? Enter the exact value of your answer.

Q:

kh cne of the following reactions is not assodated with the Solvay pracess of manufacture of sodum cartonate? 1) N+ NH, HCD, NaKO, + NHCI NKIH - CO, - Na,00, + H,0 3) 2NaHCO, Na, CO, + HO+CO, ) NH,...

Q:

The locus of midpoints of the perpendiculars drawn from points on line x = 2y to the line x = y is L1. Suppose (h, k) lies on L1. If line L2 passing through the points (h, k) and (4, 3) is...

Q:

Number of positive integral value(s) of p for which origin lies inside the triangle formed by the lines L : 152 + 2y = 30, L2 : 5a y+ 15 = 0 and O s. %3D + 15- 0 is_ pa %3D

Q:

Let image of point A(3, 1) about line x+ y +7 = 0 be B (a, 3) about line x - 2y + 4 = O be C (7, 8), then circumradius of AABC is (R) value of R? Backspace 7 8 9 45 6 1 2 3

Q:

Let the lines passing through the point (2, 3) & making intercept of length 2 units between the lines y + 2x = 3&y+ 2x = 5be L, and L2. Area enclosed by these two lines and co-ordinate axes is...

Q:

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

Q:

What is the range of convictions in 1990? In 2009? Which is greater?

Q:

What is the limitation to applying IQR to ordinal data?

Q:

What is the mean number of convictions in 1990 and 2009?