Question: Please explain steps and equations used. #5 Suppose you need to have $55,262.00 in an account 19.00 years from today and that the account pays

Please explain steps and equations used.

#5 Suppose you need to have $55,262.00 in an account 19.00 years from today and that the account pays 12.00%. How much do you have to deposit into the account 12.00 years from today? unanswered not_submitted Submit Attempts Remaining: Infinity Answer format: Currency: Round to: 2 decimal places

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!

Please explain steps and equations used. #4 Suppose you deposit $1,255.00 into and account 4.00 years from today into an account that earns 8.00%. How much will the account be worth 14.00 years from...

Please explain steps and equations used. Thanks! #3 Derek will deposit $6,224.00 per year for 25.00 years into an account that earns 17.00%, The first deposit is made next year. How much will be in...

Finance Case Study 2 During Fall Break you go home and hang out with your friend Patti when her father, Chad, overhears that you are in a finance class, and asks you for some financial advice about...

During Fall Break you go home and hang out with your friend Patti when her father, Chad, overhears that you are in a finance class, and asks you for some financial advice about his retirement. That's...

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:...

I've attached the assignment as a word file, thanks! You can use the class readings for this week's assignments. c05MerchandisingOperationsandtheMultiple-StepIncomeStatement.qxd 8/14/10 2:14 PM Page...

I've attached the question as a word file as well as the class text to help with the assignment. Thanks! c05MerchandisingOperationsandtheMultiple-StepIncomeStatement.qxd 8/14/10 2:14 PM Page 226...

3 COLLEGE ALGEBRA - TRIGONOMETRY Business and Finance (MAT115) This course will start with a review of basic algebra (factoring, solving linear equations, and equalities, etc.) and proceed to a study...

QUESTION 1: After 10 years of marriage, Ashley and Charles have decided to separate. Charles will take the custody of the children and will stay home for the next 8 years. Since Charles will have no...

Joe Grad has just arrived at the big U. He has a fellowship that covers his tuition and the rent on an apartment. In order to get by, Joe has become a grader in intermediate price theory, earning...

At the end of each chapter in the Rothaermel textbook, there is a section titled Ethical/Social Issues. Review each chapters Ethical/Social Issues section to answer the following question and apply...

At the City National Credit Union, a 9 % , $ 9 , 0 0 0 loan for 1 6 0 days had interest charges of $ 3 5 5 . 0 7 . What type of interest did City National use, ordinary or exact?

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...