If you want to have $9,000.00 in 7 years and 3 months, how much should you...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
If you want to have $9,000.00 in 7 years and 3 months, how much should you deposit today in an investment fund that is earning interest at a rate of 4.40% compounded quarterly? $0.00 Round to the nearest cent On September 11th, 2013, Joseph invested $18,000 in a fund that was growing at 5% compounded quarterly. a. Calculate the accumulated amount of the fund on April 7th, 2014. $0.00 Round to the nearest cent b. On April 7th, 2014, the interest rate on the fund changed to 4% compounded monthly. Calculate the accumulated amount of the fund on February 21st, 2015. $0.00 Round to the nearest cent A company currently owes $25,000 to a bank for a loan it took 5 years and 6 months ago. The interest rate charged on the loan was 2.25% compounded monthly. a. What was the original principal of the loan? $0.00 Round to the nearest cent b. What was the amount of interest charged on the loan? $0.00 Round to the nearest cent Holly would like to accumulate $280,000 for her retirement in 12 years. If she is promised a rate of 3.51% compounded monthly by her local bank, how much should she invest today? $0.00 Round to the nearest cent If you want to have $9,000.00 in 7 years and 3 months, how much should you deposit today in an investment fund that is earning interest at a rate of 4.40% compounded quarterly? $0.00 Round to the nearest cent On September 11th, 2013, Joseph invested $18,000 in a fund that was growing at 5% compounded quarterly. a. Calculate the accumulated amount of the fund on April 7th, 2014. $0.00 Round to the nearest cent b. On April 7th, 2014, the interest rate on the fund changed to 4% compounded monthly. Calculate the accumulated amount of the fund on February 21st, 2015. $0.00 Round to the nearest cent A company currently owes $25,000 to a bank for a loan it took 5 years and 6 months ago. The interest rate charged on the loan was 2.25% compounded monthly. a. What was the original principal of the loan? $0.00 Round to the nearest cent b. What was the amount of interest charged on the loan? $0.00 Round to the nearest cent Holly would like to accumulate $280,000 for her retirement in 12 years. If she is promised a rate of 3.51% compounded monthly by her local bank, how much should she invest today? $0.00 Round to the nearest cent
Expert Answer:
Answer rating: 100% (QA)
1 PVFV1rnnt Here FV9000 r044 n4 compounded quarterly t743 31 qtrs Plug in the values PV90001011431 9... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A house that is losing heat at a rate of 80,000 kJ/h when the outside temperature drops to 15C is to be heated by electric resistance heaters. If the house is to be maintained at 22C at all times,...
-
A house that is losing heat at a rate of 50,000 kJ/h when the outside temperature drops to 4C is to be heated by electric resistance heaters. If the house is to be maintained at 25C at all times,...
-
A house is losing heat at a rate of 4500 kJ/h per C temperature difference between the indoor and the outdoor temperatures. Express the rate of heat loss from this house per (a) K, (b) F, and (c) R...
-
Four different processes for baking Oreo cookies are considered for the 2008 season. The cookies produced by each process are evaluated in terms of their overall quality. Since the cookies sometimes...
-
This chapter mentioned several examples of automatic systems that implicitly include hypothesis tests - including airport security systems e-mail spam filters Internet search results, automatic...
-
Write a Letter format to request to generate new credit report and to apply for new credit card as well.
-
Monthly City Temperatures The data file CityTemps contains the average monthly temperature (in ${ }^{\circ} \mathrm{C}$ ) for the cities of Moscow (Russia), Melbourne (Australia), and San Francisco...
-
1. Arthur is 65 years old. He supports his father, who is 90 years old, blind, and has no income. For 2014, how many exemptions should Arthur claim on his tax return? a. 1 b. 2 c. 3 d. 4 e. 5 2....
-
What are the advantages and disadvantages of divesting through an asset sale or through a spin-off? In your opinion, did Northrop Grumman make the right choice in pursuing a spin-off?
-
At the instant illustrated, car B has a speed of 30 km/h and car A has a speed of 40 km/h. Determine the values of r and for this instant where r and are measured relative to a longitudinal axis...
-
What motivates a company to seek and develop markets outside its own national borders? There are obvious commercial, financial and political risks, but evidently, potential rewards outweigh these...
-
convert the Regular Expression given over there to equivalent NFA. Then convert the NFA to DFA. Finally, using an example show that this DFA can be used by the Lexical Analyzer to verify whether a...
-
Analyse the table below: Nominal GDP (millions) Price index With 1965 as the base year..... 1965 800 100 Blank # 1 1970 1100 120 Blank # 2 Blank # 3 1975 1500 160 BOX 1: How much did real GDP grow...
-
1. Let G be a graph and let u and v be two distinct vertices of G. Assume that G has two different walks between u and v. Choose the correct answer between the following (10 marks) two. (a) G has a...
-
Draw a binary search tree which is built from the data which insertion order is 42, 12, 8, 30, 15, 25, 53, 9, 66, 70, 50, 1. Show the result of removing the root from the binary tree shown below. ...
-
How many real multiplications will be used for computing N=4096 point Radix-2 FFT. How can we analyze the following 4th-order [5-tap] FIR filter in frequency domain: y(n) = 0.7x(n) + 0.75 x(n-1) +...
-
Assume a beta of 0.8 for Pecom equity with respect to the global market. Assume market debt to assets at the time the beta is measured is 0.6. The Treasury rates in exhibit 18 are US Treasury rates....
-
Write a paper about the Working relationship in the organization- collaboration within and outside the organization
-
Assume that you are given the following relationships for Zumwalt Corporation: Sales/total assets .. 1.5 Return on assets (ROA) .. 3.0% Return on equity (ROE) .. 5.0%
-
Neotech Corporations 14 percent coupon rate, semiannual payment, $1,000 par value, 30-year bonds currently sell at a price of $1,353.54. If its marginal tax rate is 40 percent, what is Neotechs...
-
The Gehr Company is considering the purchase of a new machine tool to replace an obsolete one. The machine being used for the operation has both a book value and a market value of $0; it is in good...
-
If you look at the light spectrum reflected from the surface of a DVD compared to the spectrum reflected from the surface of a CD, youll see that the rainbows from the DVD are more spread out, with...
-
Increasing the density of a material tends to increase the index of refraction. Does light travel faster in seawater or in fresh water?
-
Antireflection coatings for glass usually have an index of refraction that is less than that of glass. Explain how this permits a thinner coating.
Study smarter with the SolutionInn App