You need $75,000 in 10 years. If you can earn .76 percent per month, how much...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
You need $75,000 in 10 years. If you can earn .76 percent per month, how much will you have to deposit today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Amount to deposit today You need $75,000 in 10 years. If you can earn .76 percent per month, how much will you have to deposit today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Amount to deposit today
Expert Answer:
Answer rating: 100% (QA)
6974378 Explanation Using the formula A P1 rnnt where A is the future value P is ... View the full answer
Related Book For
Essentials Of Corporate Finance
ISBN: 9780073405131
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
Posted Date:
Students also viewed these finance questions
-
Do not round intermediate calculation; however for display purposes report intermediate steps rounded to four significant figures, Give your final answer(s) so four significant figures. The small...
-
How much will you have in an account set up for your son at the end of 3 years, if you have $6,500 to invest today at 7 percent interest compounded annually?
-
How much will you have at the end of 20 years if you invest $100 today at 15 percent annually compounded? How much will you have if you invest at 15 percent continuously compounded?
-
The adjusted trial balance for Windsor Company, Ltd. is presented in E4-8. WINDSOR COMPANY, LTD. Adjusted Trial Balance July 31, 2017 Instructions (a) Prepare an income statement and a retained...
-
Baker Company needs $ 1 million to expand its existing plant. Baker management is considering the following two alternative forms of financing: 1. At the beginning of 2014, issue $ 1 million of...
-
Compute the linear convolution of the sequences in Figure 3.29 using DFTs with the minimum possible lengths. Justify the solution, indicating the DFT properties employed. x1(n) 1 0 1 2 3 4 Fig. 3.29....
-
If your instructor assigns a marketing plan for your class, we hope you will be excitedfor two reasons. First, you will get insights into trying to actually do marketing that often go beyond what you...
-
An excerpt from the income statement of the Kelly Company follows. Estimated fixed costs in Year 1 are $660,000. a. What percentage of sales revenue is variable cost? b. What is the break-even point...
-
The Oracle Database Upgrade Assistant (DBUA) is a GUI tool but can also run in silent command line mode. As a DBA, in what circumstances would you recommend using silent mode?
-
Suppose that the point spread for a particular sporting event is 10 points and that with this spread you are convinced you would have a 0.60 probability of winning a bet on your team. However, the...
-
Sara plans to deposit $1,500 right now into her saving account. The interest rate 16% / year compounded quarterly. the closest equivalent future value after 2 years is: Less than $1,500 Between...
-
Determine the exergy of the following states. Take the environment to be at 25C and 1 bar. (a) Argon at 500 K and 2 bar (b) Propane at 500 K and 2 bar (c) Water at 500 K and 2 bar
-
The figure shows world population projections through the year 2150. The data are from the United Nations Family Planning Program and are based on optimistic or pessimistic expectations for...
-
Consider a retail firm with a net profit margin of 3.17%, a total asset turnover of 1.73, total assets of $44.2 million, and a book value of equity of $18.5 million. a. What is the firms current ROE?...
-
Steam at 6 MPa and 400C is fl owing in a pipe. Connected to this pipe through a valve is a tank of volume 0.4 m3. This tank initially is at vacuum. The valve is opened, and the tank fi lls with the...
-
One morning I received the following memo from the dean regarding noise pollution: "I have been asked to request that faculty members not play music in their offices. Our office walls are paperthin...
-
At the beginning of current year. Howe Company leased equipment to Kew Company for an eight-year period. Equal payments under the lease are P500,000 and are due at the beginning of each year....
-
On 1 July 2021, Croydon Ltd leased ten excavators for five years from Machines4U Ltd. The excavators are expected to have an economic life of 6 years, after which time they will have an expected...
-
If Treasury bills are currently paying 8 percent and the inflation rate is 4.7 percent, what is the approximate real rate of interest? The exact real rate?
-
Zevon, Inc., has 9 percent coupon bonds on the market that have 8 years left to maturity. The bonds make annual payments. If the YTM on these bonds is 7 percent, what is the current bond price?
-
Your firm has an average collection period of 53 days. Current practice is to factor all receivables immediately at a 2.5 percent discount. What is the effective cost of borrowing in this case?...
-
A bar in the figure is under the uniformly distributed load \(q\) due to gravity. For a linear elastic material with Young's modulus \(E\) and uniform crosssectional area \(A\), the governing...
-
Calculate the bending moment and the shear force along the cantilevered beam in example 3.7. Compare the results with exact solutions.
-
The twomember plane frame in figure 3.24 is subjected to a single horizontal force \(F\). Both translations and rotational DOFs are fixed at nodes 1 and 3. Also, two members are welded together at...
Study smarter with the SolutionInn App