Question: How much should be invested today at 6.7% compounded semiannually to have $18,000 in 15 years

How much should be invested today at 6.7% compounded semiannually to have $18,000 in 15 years

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:

Debbie is a florist and operates a floral shop called "bloomers." Debbie is quite good at making creative centerpieces to plan on tables at wedding receptions. Knowing that Jone is always a popular...

Q:

1- Katy invests $15,000 at 8% simple interest for 36 years.( Round your answers to the nearest cent.) How much interest is earned over the 36 year period? How much is in the account at the end of the...

Q:

Katy invests $15,000 at 8% simple interest for 36 years.( Round your answers to the nearest cent.) How much interest is earned over the 36 year period? How much is in the account at the end of the...

Q:

I need just correct answer without explanation please. Question 1 Not yet answered Marked out of 1.00 P Flag question The graph of y = 4sin (3x + 2) + 1 has amplitude of: Select one: a. 0 O b. O c. 2...

Q:

1. Assume an older truck with a cost of $24,000 has accumulated depreciation of $14,000. The older truck and $18,000 cash are traded for new equipment valued at $30,000. Which of the following would...

Q:

1. Assume that a machine with a cost of $3,000 has accumulated depreciation of $1.500. Assume it is sold for $2,500. Which of the following would be part of the journal entry to record this sale? a...

Q:

1. Assume that a machine with a cost of $2,000 has accumulated depreciation of $1,000. Assume it is sold for $1,500. Which of the following would be part of the journal entry to record this sale? a....

Q:

please help thank you 6. Refer to number 5 above. The journal entry to be recorded when two of the units were actually replaced during the month would include: a. a credit to Cash for $200 b. a debit...

Q:

7. An amount is deposited into a bank account that pays 8%, compounded quarterly for 5 years. What number of periods and rate would be used to find the future value of this investment? a. 20 periods...

Q:

5. During April, Koduck Cameras sold 150 instant cameras for $100 each. Each camera had cost Koduck $60 to manufacture, and carried a one-year warranty. If 4% typically need to be replaced over the...

Q:

1. What principal invested today at 4.28% compounded semi-annually will amount to $3,500 in 9 years? 2. Haley won $25,000 in a lottery. She will spend some of her winnings now and save the rest. The...

Q:

The vapor pressure of a pure liquid was measured at several temperatures and is given in the table below. Vapor Pressure (P, torr) Temperature (T, K) 7.52 353.5 27.73 382.4 62.5 404.0 171.6 434.3...

Q:

Based on the United States population health insurance data in 1993, the probability that an adult between the ages of 45 and 64 does not have health insurance coverage of any kind is 0.123. Suppose...

Q:

What is a tax-oriented lease?

Q:

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...