Jean must pay a lump sum of $4,753 in 5 years. How much should be deposited today

Fantastic news! We've Found the answer you've been seeking!

Question:

Jean must pay a lump sum of $4,753 in 5 years. How much should be deposited today at an annual interest rate of 9.27% in order to have this lump sum amount in 5 years? Assume we are compounding annually.

Related Book For answer-question

Modern Advanced Accounting in Canada

ISBN: 978-1259087554

8th edition

Authors: Hilton Murray, Herauf Darrell

See More Books

Posted Date: Sep 13, 2023 02:26 AM

See More Questions

1. As the beneficiary of a life insurance policy, you have two options for receiving the insurance proceeds. You can receive a lump sum of $200,000 today or receive payments of $4,000 every quarter...
For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...
If $6000 is deposited into an account earning simple interest at an annual interest rate of 3% for 5 years, how much interest was earned? A= $ 5600 For the situation in question #1, how much money is...
When will the balance in the intercorporate investment account be the same if the investment is carried at fair value, or if the equity method of accounting is used?
A force and a couple are applied to a beam. (a) Replace this system with a single force F applied at point G, and determine the distance d. (b) Solve part a assuming that the directions of the two...
A2-kg mixture of 50% argon and 50% nitrogen by mole is in a tank at 2 MPa, 180 K. How large is the volume using a model of (a) ideal gas and (b) Kays rule with generalized compressibility charts?
How do CRM and the use of databases in selling enhance closing and follow-up?
Investigators selected an SRS of 200 high school seniors from a population of 2000 for a survey of television-viewing habits, with an overall response rate of 75%. By checking school records, they...
OM 20765 Test: Final Exam Question list K Question 1 Question 2 Question 3 tion 4 Question 4 of 4 This test: 25 point(s) possible This question: 7 point(s) possible Sut Radovilsky Manufacturing...
Based in Winnipeg, Manitoba, Defence Electronics Inc. (DEI) was founded to provide security systems, facilities controls and related services. DEI established a solid reputation for quality and the...
In 2019, Elaine paid $2,360 of tuition and $780 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the...
1. Consider a fixed rate or constant payment (FRM or CPM) mortgage loan that carries a mortgage interest rate of 6.5%. What is the effective annual rate (EAR)? What is the equivalent monthly rate...
Conflict theorists describe how deviance is defined by the people in power. In society, power and wealth impact the perception of deviance and the overall treatment of those who commit crimes....
Context of the book "The Road to Wigan Pier " by George Orwell. Write 300-400 words about the context of the book: What was happening at the time that the book was written?Does this influence the...
When building an industry-average should cost model, we might go to a source like RMA's Annual Statement Studies for information on what element?
Explain how the use of special journals will benefit you as an accountant. Date (May) Particulars 1 The landlord was paid $1500 as rent. 3 The inventory was purchased on credit from Ron Co. for $1500...
48. The expected return-beta relationship A. is the most familiar expression of the CAPM to practitioners. B. refers to the way in which the covariance between the returns on a stock and returns on...
ABC company leased new advanced computer equipment to STU Ltd on 1 January 2019.STULtd has to pay annual rental of $290,000 starting at 1 January 2019. It is a four years lease with ultimate rental...
On January 1, Year 4, Handy Company (Handy) purchased 70% of the outstanding common shares of Dandy Limited (Dandy) for $13,300. On that date, Dandy's shareholders' equity consisted of common shares...
The balance sheets of Abdul Co. and Lana Co. on June 30, Year 2, just before the transaction described below, were as follows: On June 30, Year 2, Abdul Co. purchased all of Lana Co. assets and...
The trial balances for Walla Corporation and Au Inc. at December 31, Year 4, just before the transaction described below, were as follows: On December 31, Year 4, Walla purchased all of the...
A truck is traveling at a constant $25 \mathrm{~m} / \mathrm{s}$ when a motorcycle speeds past at a constant $40 \mathrm{~m} / \mathrm{s}$. On which vehicle, if either, is the magnitude of the...
Sketch the $\sum F_{x}(t)$ curve for the vector sum of forces exerted on the object whose $x$ component of momentum is plotted in Figure P8.3. Curve sections are numbered for reference. Data from...
You wish to move a crate. (a) Is there a minimum value for the magnitude of the pushing force you have to exert to set the crate in motion? (b) Is there a minimum value for the magnitude of the...

Jean must pay a lump sum of $4,753 in 5 years. How much should be deposited today

Question:

Expert Answer:

To determine how much Jean should deposit today to have 4753 in ... View the full answer

Modern Advanced Accounting in Canada

Students also viewed these finance questions