The hulk has invested $76239 in an investment account that will pay him 7% APR over tbe

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

Question:

The hulk has invested $76239 in an investment account that will pay him 7% APR over tbe next 21 years with monthly compounded interest. how much will he have in his account after 21 years of assuming all interest reinvested? round to nearest penny

Related Book For answer-question

Introduction to Management Science

ISBN: 978-0132751919

11th Edition

Authors: Bernard W. Taylor

See More Books

Posted Date: Mar 07, 2023 05:06 AM

See More Questions

How long will $500,000, in an investment account that earns 5.25% compounded monthly, sustain month-end withdrawals of $3000?
The formula for the amount A in an investment account with a nominal interest rate r at any time t is given by A(t) = a(e) rt , where a is the amount of principal initially deposited into an account...
What was Jasons starting salary? How much could he have contributed to the voluntary savings plan in his first year of employment?
Explain these points in detail w.r.t application of control in auditing with examples. 1: Relate data capture control with internal control in auditing with example 2: Relate validation control with...
From the perspective of a manager, what advantages might be associated with taking an electronic approach to reviewing the workers' performance levels? List these advantages into two categories:...
Assume the carrying capacity of the earth is 9 billion. Use the 1960s peak annual growth rate of 2.1% and population of 3 billion to predict the base growth rate and current growth rate with a...
Construct a bar graph for each of the following (assume the independent variable is Group and the dependent variable is time): a. $\operatorname{Group} \mathrm{A}(N=21, M=14.05, s=3.63)$; Group B...
A Realtor examines the factors that influence the price of a house in Arlington, Massachusetts. He collects data on recent house sales (Price) and notes each houses square footage (Sqft) as well as...
Williams Group started a new business on September 1, 2021. That same day, Williams Group also received $430,000 of cash from issuing common stock and borrowed $230,000 from a friend. On September 1,...
(a) Could 25 g of argon gas in a vessel of volume 1.5 dm3 exert a pressure of 2.0 bar at 30C if it behaved as a perfect gas? If not, what pressure would it exert? (b) What pressure would it exert if...
1- Do you think your public profile should serve the same goals? If yes, how this can be achieved? Can you think of how to message map for your communication with a prospective employer? 2- Have you...
The Henry Store has the following data for inventory: Cost Retail Inventory, January 1 $200,000 $400,000 Purchases for January 360,000 480,000 Sales for January 440,000 The store uses the dollarvalue...
A pipe that is 0.460 m long and open at both ends vibrates in the first overtone with a frequency of 726 Hz. What is the speed of sound in the air in this pipe?
A projectile is fired with an initial speed of 38.0 m/s at an angle of 43.8 above the horizontal on a long flat firing range Part C Determine the total horizontal distance covered (that is, the...
A cylinder piston pump system needs to be designed. The air pressure need to raise from 1 bar to 3 bar in 10 minutes at room temperature (298K) The power to the pump is 100W where the inside of the...
A girl is sledding down a slope that is inclined at 30.0 with respect to the horizontal. The wind is aiding the motion by providing a steady force of 113. N that is parallel to the motion of the...
A firm would like to replace a machine that originally cost $15,000. The new machine will cost $100,000, will require $5,000 to install and $3,000 to ship. They will have to initially increase...
Write the binomial probability in words. Then, use a continuity correction to convert the binomial probability to a normal distribution probability. P(x 110)
A faculty committee in the department of management science at Tech is evaluating three new textbooks for its introductory management science course, which all business students are required to take....
WestCom Systems Products Company develops computer systems and software products for commercial sale. Each year it considers and evaluates a number of different R&D projects to undertake. It develops...
The Otter Creek Winery produces three kinds of table wine-a blush, a white, and a red. The winery has 30,000 pounds of grapes available to produce wine this season. A cask of blush requires 360...
Reconsider the data from Problem 57 (Orpheum Productions lighting enhancement). Assume that any money not invested in the lighting enhancements will be placed in an interest-bearing account earning...
An investor has $$100,000$ to invest in a business venture, or she can earn 10 percent/year with a $$100,000$ certificate of deposit for 4 years. Three possible business ventures have been...
This problem is related to Problem 8. Jeff has $10,000 to invest for a period of 5 years. The following three alternatives are available at his bank: Data from problem 8 Jeff has $10,000 to invest...

The hulk has invested $76239 in an investment account that will pay him 7% APR over tbe

Question:

Expert Answer:

To solve this problem we can use the formula for compound inter... View the full answer

Introduction to Management Science

Students also viewed these accounting questions