Question: How much will a $55,500 deposit made today be worth in 15 years if interest is compounded annually at a rate of 9.25 percent? A

How much will a $55,500 deposit made today be worth in 15 years if interest is compounded annually at a rate of 9.25 percent? A $259,596 a. 5286,037 c. 5184,658 0. $209,226

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!

The Tuff Wheels was getting ready to start its development project for a new product to be added to its small motorized vehicle line for children. The new product is called the Kiddy Dozer. It will...

Chapter 5 (Finance) Homework Questions1. If you deposit $25,000 today into an account that pays interest at 7%,compounded annually, how much will be in your account at the end of 4 years?a....

MGMT 640 Midterm Exam Ques. 1) Which of the following is not an advantage of the corporate form of business organization? a. Sell debt or equity in public capital markets b. Owners have limited...

See page 129- 137 on attachment for more details there are five steps to the project. Step 1: Create the loan amortization schedule for the property. Step 2: Create the depreciation schedule. Step 3:...

Need help with these discussion postings (in a document) and assignments (all in separate files), all directions are included as well. FINANCE DIRECTIONS Need to provide 1 original post substantial...

Exam 1 Business Math Q1. The number 49,842 rounded to the nearest thousand is: a. 50,000 b. 49,000 c. 49,900 d. 49,800 Q2. The number 70624020 should be written: a. 70,624,020.0 b. 7,062,402,0 c....

Financial Economics ________ 1. You currently have $7,200 in your investment account. You can earn an average rate of return of 11.7 percent per year. How long will you have to wait until your...

(Compound interest) To what amount will the following investments accumulate? a. $5,200 invested for 8 years at 9 percent compounded annually b. $8,200 invested for 7 years at 8 percent compounded...

Part II: PROBLEMS Compute a final numerical answer for each of the following problems. You should work out your solutions on loose leaf paper, however, I may or may not collect your worked out...

14. [-/4 Points] DETAILS HARMATHAP12 1.6.040. Complete the problem by using the accompanying gure, which shows a supply function and a demand function. (Assume price is measured in dollars.) p 40 30...

Please work using excel spreadsheet, and providing functions for review. Please and thank you, can you provide this quickly, greatly appreciate it. **The problems have already been worked, just need...

We witnessed a historic event in the commodity market in April 2020. The oil futures price plunged into negative. There are many reasons behind this puzzling phenomenon. Does our formula For=Soe(r-)T...

Stockton Labeling Company has a retiree health care plan. Employees become fully eligible for benefits after working for the company eight years. Stockton hired Misty Newburn on January 1, 2011. As...

Anderson Corp., a European - based MNC , has recently expanded into South America. Its European headquarters exports machinery to several South American countries, with transactions denominated in...

using python 3 Write a function quote_maker(quote, name, year) that returns a sentence, i.e. a string of the following form: In year, a person called name said: quote. See the next Section 2 below...