K a. Use the appropriate formula to determine the periodic deposit. b. How much of the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
K a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate Time $? at the end of each month 6.5% compounded monthly 12 years Financial Goal $190,000 1 Click the icon to view some finance formulas. a. The periodic deposit is $ (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. $ of the $190,000 comes from deposits and $ comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.) Formulas In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. P[(1+r) - 1] A = A = r n nt P[(1 + 1) - A n H P = nt n Print Done K a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate Time $? at the end of each month 6.5% compounded monthly 12 years Financial Goal $190,000 1 Click the icon to view some finance formulas. a. The periodic deposit is $ (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. $ of the $190,000 comes from deposits and $ comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.) Formulas In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. P[(1+r) - 1] A = A = r n nt P[(1 + 1) - A n H P = nt n Print Done
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
Express the following directions by two other means; set up and fill in a table with three columns, one for bearing, one for azimuthN (AzimN), and one for azimuths (Azims): a. N 3040'E b. AzimN...
-
What are the four value drivers? How does each of them affect value?
-
The Big Four audit firms are now so large and powerful that they are no longer different from any other multinational business and we need to accept this and the corollary that they are largely...
-
Compute depreciation expense using various depreciation methods. - The straight-line method allocates an equal amount of the asset's cost to each year of the asset's useful life by dividing the...
-
Complete the following table and answer the accompanying questions. a. At what level of the control variable are net benefits maximized? b. What is the relation between marginal benefit and marginal...
-
QS 2 3 - 1 1 ( Algo ) Direct labor rate and efficiency variances LO P 3 A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor...
-
The results of the tensile test of steel sample are shown as a force-extended length for each candidate in table 2. Use the given data (in table 2) to solve the following activities (a) Using a graph...
-
Explain the basic principle of the time path of a bond's value. How might Silicon Valley Bank have used this concept to avoid its crisis? How might regulators have relied on this concept to more...
-
What is the purpose of tests of controls? With reference to the three (3) main risk components of the Audit Risk Model , explain the circumstances where it is NOT appropriate for the Auditor to test...
-
one small uniformly charged plastic ball of mass m is located directly above another such chatge in test tube. the balls are in equilibrium distance d apart. if test charge on each ball is doubled,...
-
24. An equipment cost $80,000. The estimated lifespan is nine years and the estimated residual value is $8,000. If we use the straight-line method, the book value of the asset at the end of its third...
-
XYZ Company's 2020 financial statements have the following distributions of the first digits. Digit 1 Frequency 18 15 2345678 5. 0 5 10 6 7 14 8 7 93 What is the Kolmogorov-Smirnov test statistic for...
-
non-probability sampling is preferred in qualitative research for detailed exploration of specific phenomena or groups
-
The overall reaction and equilibrium constant value for a hydrogenoxygen fuel cell at 298 K is 2H 2 (g) + O 2 (g) 2H 2 O(l) K = 1.28 10 83 a. Calculate E cell and G 8 at 298 K for the fuel cell...
-
Labor mix and yield variances The Bloomington Park Department plans to offer free swimming lessons to children under 14 years of age who want them. The manager of the department estimates that 6,000...
-
Material mix and yield variance with shrinkage The Mercantile Solvents Company makes X-Myer-K, a powerful rust remover. The standard material mix calls for 80 gallons of XZ-Ote at $1.25 per gallon...
-
Material and labor variance analysis A plant food, called Flower-Bloom, is made by the Ari F. Horticultural Company. The product is manufactured in 50-ton batches and sold in bulk to another company...
Study smarter with the SolutionInn App