Ten years ago, a man made an investment paying 6% annual simple interest. If his investment is

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

Question:

Ten years ago, a man made an investment paying 6% annual simple interest. If his investment is now worth $192,845,

How much did he originally invest? (Round your answer to the nearest cent.)

Related Book For answer-question

Financial Algebra advanced algebra with financial applications

ISBN: 978-0538449670

1st edition

Authors: Robert K. Gerver

See More Books

Posted Date: May 05, 2023 07:48 AM

See More Questions

For the year ended December 31, 2,014, compute basic and diluted EPS. In your computations, round all weighted-average number of shares to the nearest whole number. Round earnings per share to the...
Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year compounded monthly. A. The present value is $28,948.67. B. The present value is $29,433.94. C. The present value...
The treasurer of Kelly Bottling Company (a corporation) currently has $200,000 invested in preferred stock yielding 10 percent. He appreciates the tax advantages of preferred stock and is considering...
What is the wavelength of light if its frequency is 1.009 106 Hz?
Ningbo Steel had year end 2010 and 2011 retained earnings balances of $5,000,000 and $6,000,000 respectively. The firm paid $100,000 of dividends in 2011. Based on this information, Ningbo Steel's...
Trace the evaluation of the following expressions, and give their resulting values: a. 2 + 2 + 3 + 4 b. "2 + 2" + 3 + 4 c. 2 + " 2 + 3 " + 4 d. 3 + 4 + " 2 + 2" e. "2 + 2 " + (3 + 4) f. "(2 + 2) " +...
Indicate the method of buying (description, inspection, sampling, or negotiation) an organization would be most likely to use when purchasing each of the following items. Defend your selections. a. A...
In March, Kelly Manufacturing had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had zero work in process. During March, Kelly transferred out 22,000...
Consider the following homogeneous differential equation. y dx=2(x + y) dy Use the substitution x = vy to write the given differential equation in terms of only y ar (v)dy + (y)dv = 2(vy + y)dy
Thunder Attractions, an amusement park, is considering a capital investment in a new exhibit. The exhibit would cost 136,000 and have an estimated useful life of 5 years. It will be sold for 60,000...
3 0-8 5 and u 1 (a)Write y=w+2, where w is a scalar multiple of u and z is orthogonal to u. (b) Verify your answer as following: (i) w=w+z (ii) w is a scalar multiple of u (iii) w is orthogonal to z....
In the fall of 2021, a cinematographer was fatally shot on the set of a film entitled, "Rust". The incident occurred when a bullet was discharged from a gun that was being used as a prop by actor...
Discuss two (2) cons of this organizational structure. Discuss two (2) reasons why such an organizational culture would be a challenge for a development organization to adopt. Which organizational...
A 0 . 0 0 1 2 C charged cart is initially at rest on a ramp ( 1 . 1 m away from the bottom of the ramp ) . At the bottom of the ramp is another charge ( 0 . 0 1 2 C ) . Ignoring friction, how fast is...
1) Debbie wants to determine the initial speed at which a spring toy shoots a marble. She assumes the toy shoots the marble with the same speed on every trial. She shoots the marble horizontally from...
what ways do the principles of organizational behavior elucidate the intricacies of interpersonal dynamics within complex organizational structures, particularly when examining the interplay between...
Devon Oil Services sufri una gran prdida y suspendi sudividendo. Suponga que no espera que Devon reanude el pago dedividendos hasta el 1 de diciembre de 2017. Espera que el dividendoanual de 1 answer
AB CORPORATION ISSUED THE FOLLOWING 850 COMMON STOCKS PAR VALUE P100 750 PARTICIPATING PREFERRED STOCKS PAR VALUE P100 AT 3% AB CORPORATION DECLARED P100,000.00 DIVIDEND IN 2022.
Roberta's Social Security full retirement benefit is $2,101. She started collecting Social Security at age 64, and her benefit is reduced since she started collecting before age 67. Find her...
Determine the closing price on April 21 for each of the following stocks. a. Texas Instruments Inc b. Freeport-McMoRan Copper & Gold Inc Sales of Last Change 100s High Low 127,2001000 4.11 128,600...
Fiona opened a retirement account that has an annual yield of 6%. She is planning on retiring in 20 years. How much must she deposit into that account each year so that she can have a total of...
You are evaluating a new cookie-baking oven. The Cookie Munster costs $$90,000,$ has a seven-year life, and has an annual Operating Cash Flow (OCF), after tax, of -$$8,000$ per year. If your...
Joe Vida owns the Peace Barber simple . He employs five barbers and pays each a base rate of $1,200 per month. One of the barbers serves as the manage) and receives an extra $600 per month. In...
Suppose you are considering an investment that grew by 32 percent across a five-year holding period. If you wanted to state this rate of return as an effective annual rate (that is, with annual...

Ten years ago, a man made an investment paying 6% annual simple interest. If his investment is

Question:

Expert Answer:

To solve this problem we can use the formula for simple intere... View the full answer

Financial Algebra advanced algebra with financial applications

Students also viewed these finance questions