How much time will be needed for $32,000 to grow to $39,406.06 if deposited at 7%...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
How much time will be needed for $32,000 to grow to $39,406.06 if deposited at 7% compounded quarterly? kt +5)*. k For calculating use the formula A = P 1 + The amount $32,000 will grow to $39,406.06 in year(s). (Do not round until the final answer. Then round to the nearest tenth as needed.) How much time will be needed for $32,000 to grow to $39,406.06 if deposited at 7% compounded quarterly? kt +5)*. k For calculating use the formula A = P 1 + The amount $32,000 will grow to $39,406.06 in year(s). (Do not round until the final answer. Then round to the nearest tenth as needed.)
Expert Answer:
Answer rating: 100% (QA)
here A future value 3499949 r annual interest rate 77 007 P7 intial value ... View the full answer
Related Book For
Posted Date:
Students also viewed these mathematics questions
-
What are the sources of employee value?
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
-
Which of the following statement(s) about the Internet is(are) true? (Check all that apply.) A. Many Internet transactions are processed and stored by older, traditional legacy systems B. The...
-
What is control resolution in a robot positioning system?
-
Explain each of the following terms: (a) Authorized capital stock, (b) Issued capital stock, and (c) Outstanding capital stock.
-
What is the difference between a reliance measure of damages and a benefits-of-the-bargain measure?
-
Alternatives 1, 2, and 3 have lives of 3, 4, and 6 years, respectively. Their net cash flow (NCF) and salvage value (SV) profiles are as follows: Additional explanation is necessary: The NCF profile...
-
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours....
-
2. Consider the variation of hot-potato routing/coordination routing game discussed in class, where there are three strategies: Payoff Hot Potato Long Path Planned Long-Path | Planned Hot Potato...
-
Over the past decades, China has emerged as a global economic powerhouse. In 2020, China was the second-largest economy after the United States, with a nominal GDP of $14.7 trillion. The state of...
-
Create a business plan in which you need to address the following: What are the Key Objectives of your business? Write about your Mission Statement. What is your Strategy about your business? Write a...
-
An object's mass is 2 4 5 kg on earth. What is the object's mass on the moon ( in kilograms ) if the gravity of the moon is 1 . 6 m / s * 2 ?
-
Claude leased a facility from ML partnership in January 1, 2018. Terms of the lease were as follows: Annual rental 300,000 Annual real property tax assumed and paid by Claude 50,000 Security deposit...
-
A military helicopter lifts a 75 kg flood survivor 16 m vertically from the river by a rope. If the acceleration of the survivor is g/10, how much work is done on the survivor by (a) the force from...
-
Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $1,600 and the variable cost per cup of coffee served is $0.34....
-
2. Ana has the following data on his passive income earned during the year: (all amounts are in peso) Philippines Abroad Interest income on long term peso bank deposits 45 000 25 000 Interest income...
-
The exponential function f(x) = e has the remarkable property that it's equal to its own derivative. So does the constant function f(x) = 0. Are there any other functions with this property? If so,...
-
Prove the formula for (d/dx)(cos-1x) by the same method as for (d/dx)(sin-1x).
-
In what respect is preferred stock similar to bonds, and in what respect is it similar to common stock?
-
Describe the open market operations undertaken by the Federal Reserve. What type of trades would the Fed make if it wanted to increase interest rates?
-
The management of Ferri Phosphate Industries (FPI) is planning next years capital budget. FPI projects its net income at $7,500, and its dividend payout ratio is 30 percent. The companys earnings and...
-
In a hypothesis test the p value is 0.043. This means that we can find statistical significance at: (1) both the 0.05 and 0.01 levels (2) the 0.05 but not at the 0.01 level (3) the 0.01 but not at...
-
In testing the null hypothesis that p = 0:3 against the alternative that p 0:3, the probability of a type II error is ______ when the true p = 0:4 than when p = 0:6. (1) the same (2) smaller (3)...
-
An article states there is no significant evidence that median income increased. The implied null hypothesis is: (1) Median income increased. (2) Median income changed. (3) Median income did not...
Study smarter with the SolutionInn App