This morning, you invested your tax refund of $760 at an interest rate of 2.5 percent, compounded

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

Question:

This morning, you invested your tax refund of $760 at an interest rate of 2.5 percent, compounded annually. How much will this investment be worth 8 years from now?

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

See More Books

Posted Date: Mar 11, 2024 05:35 AM

See More Questions

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...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
1. Steve recently graduated with his Masters degree, and landed a great job. He decided that he wants to begin investing and he has asked you for advice. He wants to know that if he invests 2,000...
The degrees of operating leverage for Delta Corp. and Epsilon Co. are 1.95 and 5.15, respectively. Both have operating incomes of $56,600. Determine their respective contribution margins....
When a parachute opens, the air exerts a large drag force on it. This upward force is initially greater than the weight of the sky diver and, thus, slows him down. Suppose the weight of the sky diver...
PaperlinX Limited, an Australian paper manufacturer using IFRS, reported the following in the operating activities section of its statement of cash flows: Additional information: Instructions (a) Is...
Harold Fail owned a plot of land in Georgia known as Ebenezer Landing, where he operated a public boat ramp and parking lot. In 1999, Fail and Steve Bodiford entered into an oral agreement...
What will your portfolio be worth in 10 years? In 20 years? When you stop working? The Human Resources Department at Tri-State Corporation was asked to develop a financial planning model that would...
The following information is presented for the year-end reporting for Alcoy, LLC: Sales Price per Unit $24, Total Fixed Costs 150,000, Variable Cost per Unit 8, Total Units Sold 14,000. How much is...
Background: SO MUCH CANDY DATA, SERIOUSLYCandy hierarchy data for 2017 Boing Boing Halloween candy hierarchy. This is survey data over the span of 4-years. The data is split into 4 separate files....
Question 6 10 points Save Ar A 100-watt light bulb illuminates a solar cell. The electricity from the solar cell operates a water pump that delivers 1 watt of power. What is the efficiency of the...
A company, what operated profitably during its first five years, sustained a loss in the sixth year which equaled its pretax income of any four of the first 5 years of its operations. The company can...
According to Lynn Turner, the former chief accountant at the Securities and Exchange Commission (SEC), history tells corporate scandals occur about every how many years?
The balance sheet, Income statement and statement of change in equity have been required statements for years, for investors and stakeholders to establish going concern, probability and growth but...
The objective of this portion of the assignment is to help you develop your financial planning skills by creating two SMART financial goals. Using the SMART Goal Guidelines, create TWO SMART goals....
Pierre works at Winners and as an employee he is given the ability to buy a suit for $100 when regular customers would pay $500 for the same suit. Winners cost for the suit is $150. Does Pierre have...
tor the following matrix, is it mvertible? is it dagonalszable? 2 3. 2 - 3 2 - 4 I. Tnmertible, but mot oMagenalizabe dugontade Dagonalizable, but not mertible. 4. Both mvertible and dingonalizable a...
Write the expression in radical notation. Then evaluate the expression when the result is an integer. 23 -1/2
Suppose there are three goods in the world: x1 , x2 and x3. A: On a 3-dimensional graph, illustrate your budget constraint when your economic circumstances are defined by p1 = 2, p2 = 6, p3 = 5 and I...
Consider Sunny who is committed to a life of crime. Sunny is risk averse, knows that he will enjoy consumption level x 1 if he does not get caught and consumption level of x 0 (very much below x 1 )...
Below, we will investigate the profit maximizing choice in the two steps that first involve a strict focus on the cost side. A: Consider again (as in the previous exercise) a production process that...
A client who is a director of a publicly listed corporation is required by law to refrain from trading that companys stock at certain points of the year when disclosure of financial results are...
Consider the pairwise correlations of monthly returns of the following asset classes: Based solely on the information in the preceding table, which equity asset class is most sharply distinguished...
Investing the majority of the portfolio on a passive or low active risk basis while a minority of the assets is managed aggressively in smaller portfolios is best described as: A. The coresatellite...

This morning, you invested your tax refund of $760 at an interest rate of 2.5 percent, compounded

Question:

Expert Answer:

To calculate the future value of an investment compounded annually we can use the formula Future Va... View the full answer

Microeconomics An Intuitive Approach with Calculus

Students also viewed these finance questions