Question: The answer to this solution is listed below. Can you please translate the answer to this solution using a financial calculator. Example: fv, n, i/y,

The answer to this solution is listed below. Can you please translate the answer to this solution using a financial calculator. Example: fv, n, i/y, pv, PMT etc.

This morning you invested your tax refund of $2,220 at an interest rate of 4.8 percent, compounded annually. How much will this investment be worth 15 years from now?

FV = 2220*(1.048^15) = $4485.1

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!

The answer to this solution is listed below. Can you please translate the answer to this solution using a financial calculator. Example: fv, n, i/y, pv, PMT etc. You will be receiving $8,769 one year...

The answer to this solution is listed below. Can you please translate the answer to this solution using a financial calculator. Example: fv, n, i/y, pv, PMT etc. Your grandmother has promised to give...

The answer to this solution is listed below. Can you please translate the answer to this solution using a financial calculator. Example: fv, n, i/y, pv, PMT etc. Cast Out Co. invested $16,200 in a...

Please format answer in format asked 5 of 4 MMMM Corporation produced cleaning equipment at a cost of $380,000 for the Callahan Auto Parts factory in Sandusky, Ohio. Upon delivery of the equipment on...

1. The following projects are available, but only one can be chosen. The cost of capital in all cases is 16%. Project A: An initial investment of $180,000 followed by profits of $30,000 in years one...

You helped me a couple of weeks ago. I was wondering if i could setup a time for tomorrow that you could be available to help me with some questions. I will pay $20 per question. They are short and I...

Please do NOT NOT NOT NOT use financial calculator do NOT show steps in this format DO NOT USE THIS !!!!!(keys to use in a financial calculator: 2nd I/Y 2, FV 1000, PV -1050, N 40, PMT 34.5, CPT I/Y)...

10. Interest rate effect (LO10-3) Using Table 10-1, assume interest rates in the market (yield to maturity) are 14 percent for 20 years on a bond paying 10 percent. a. b. What is the price of the...

Hi, refer to the above answer as provide by you, I am still puzzled why is the present value greater than the future value? Please kindly advise thank you. Given the following information for Watson...

Samantha just won a settlement with an insurance company, which entitles her to receive payments of $20,000 at the beginning of each year for the next 20 years. Her financial advisor recommended to...

Which one is not a technique of earnings management? a. Creative acquisition accounting. b. Executive stock option issued in 2006. c. Cookie jar reserves. d. Taking a bath.

Determine the max load that can be resisted. by the bracket shown in fig, by fillet weld 7mm size of it is a shop welding.

A country experiences a fall in unemployment. How would this be shown on a PPC diagram? A A movement of the production point away from the curve B A movement of the production point towards the curve...

Identify a need and specification in an organization

1. Form groups of fi ve to seven. Have one third of groups use the linear model of communication to describe communication in your class. Have one third of groups use an interactive model to describe...

4. How do diff erent models represent the process of human communication?

3. Go to the placement offi ce on your campus and examine descriptions of available positions. Record the number of job notices that call for communication skills.