Question: if you can earn 5 percent per year compounded annually in order to have1500 in 8 years you must invest how much?

if you can earn 5 percent per year compounded annually in order to have1500 in 8 years you must invest how much?

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:

Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that the company currently purchases from a supplier. Forecasted annual demand for the part is...

Q:

Question 5 (4 points) Consider the following accounts of a firm. Sales Cost of goods sold General and selling expenses $10000 Accrued payroll Interest expense $35000 $16000 $2000 $2000 The firm's...

Q:

QUESTION 9 Consider the following variables from last year for IBU Inc.: This year, sales growth is expected to be 5 . 4 % . IBU Inc. has sufficient capacity so depreciation is expected to stay the...

Q:

Answer all the questions with step by step solutions: QUESTION 9 Consider the following variables from last year for IBU Inc.: This year, sales growth is expected to be 5 . 4 % . IBU Inc. has...

Q:

Make sure to answer a the questions please. QUESTION 1 0 If you invest $ 1 5 , 0 0 0 today, an investment guarantees that 2 4 years from today you will have $ 5 4 , 7 5 0 . What annual rate of...

Q:

Hello there nice to finally meet with you again. I am needing help with a final in securities and investments. Instructions: Write your name and student number in the spaces provided. Please write...

Q:

James Cardinal, 56, just retired after 31 years of teaching. He is a husband and father of three. Two of his children, Carl and Dan, still live at home while they are finishing college. James...

Q:

5. (18 points) You are planning to retire in 30 years. You currently have $50,000 in a stock account and $80,000 in a bond account. You plan to invest $5,000 per year in your stock account and $5,000...

Q:

Appendix A Future value of $1, FV- FV= pv(1 + ir Additional Practice Problems Time Value of Money 1) Xiao Xin is planning to accumulate S40,000 by the end of S years by mak com po g 5 equal annual...

Q:

Set up an Excel worksheet to determine the future amount of money F that will accumulate over n years if P dollars is deposited in a bank account earning r percent interest each year, compounded...

Q:

can anyone help me to solve these q?please!! Question 5 Apple is planning to invest the following amounts at an interest of 5 percent per year, compounded annually. How much money will she have saved...

Q:

What are main mechanisms in mobile network for attaining location?

Q:

Presented below is an adjusted trial balance for Shawn Company, at December 31, 2020. Cash Accounts receivable Prepaid insurance Equipment Depreciation expense Owner's Drawings Advertising expense...

Q:

2. Which of the following is a data item whose value does not change during run time? a. literal constant b. literal variable c. named constant d. variable

Q:

Deng Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2010. The bonds pay interest twice a year. Instructions (a) (1) Prepare the journal entry to record the issuance of the bonds. (2)...

Q:

On June 1, 2010, Firefly, Inc., purchased $120,000 of 10-year, 6% Barron Company bonds at 98, including the brokerage commission. The interest is payable semiannually on June 1 and December 1. (a)...

Q:

Matthews, Williams, and Shen share equally in net income and net losses. After the partnership sells all assets for cash, divides the losses on realization, and pays the liabilities, the balances in...

Q:

A 1.5-m length of wire carrying 4.5 A of current is oriented horizontally. At that point on the earths surface, the dip angle of the earths magnetic field makes an angle of 38o to the wire. Estimate...

Q:

Suppose the earths magnetic field at the equator has magnitude 0.40 X 10-4 T and northerly direction at all points. Estimate the speed a singly ionized uranium ion (m = 238 u, q = e) would need to...

Q:

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

Q:

How to tackle increasing dependence on IT devices for products and services?

Q:

Apply the VRIO framework in the following settings. Will the actions described be a source of competitive disadvantage, parity, temporary advantage, or sustained competitive advantage? Explain your...

Q:

Can algorithms understand and interpret patterns of activities to predict behavior and preferences?