You placed $6,739 in a savings account today that earns an annual interest rate of 11.46 percent,

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

Question:

You placed $6,739 in a savings account today that earns an annual interest rate of 11.46 percent, compounded semiannually. How much will you have in this account at the end of 14 years? Assume that all interest received at the end of the period is reinvested the next period.

Round the answer to two decimal places.

Posted Date: May 19, 2024 10:16 AM

See More Questions

Indicate identities used n cot20-1 Prove: cot 20 2cot0
Two separate samples receive two different treatments. The first sample has n = 9 with SS = 710, and the second has n = 6 with SS = 460. a. Compute the pooled variance for the two samples. b....
Consider a stable discrete-time signal x[n] whose discrete-time Fourier transform X(e j ) satisfies the equation X (e j ) = X (e j() ) and has even symmetry, i.e., x[n] = x[ n]. (a) Show that X(e j )...
Under expectancy theory, if any of the three factors are missing, what is the result?
Oregon Corporation has filed a voluntary petition to reorganize under Chapter 11 of the Bankruptcy Reform Act. Its creditors are considering an attempt to force liquidation. The company currently...
8) What is the minimum distance between the point (4,1) and the curve of x2 37
What word best describes Lamar's Native American policy? Beneficial Extermination Diplomacy Boomer
Tell me why Sellouts are important for a sport organization. List three key reasons that Sellouts take such a priority in the Ultimate Toolkit Philosophy.
McKesson Company has issued preferred stock ($45 par value) that pays an annual dividend of $4.50. The preferred stock matures in 16 years. At that time, holders of the stock will receive, at their...
Cane Company manufactures two products called Alpha and Beta that sell for $130 and $90, respectively. Each product uses only one type of raw material that costs $5 per pound. The company has the...
What are the molecular and genetic factors that regulate hormone synthesis and secretion, and how do these factors contribute to endocrine system homeostasis and adaptability in response to external...
Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Company on January 1 for a cash cost of $1,600. When purchased, the patent...
Today the price of DQ stock is $22 and the price of a 1-year strip (face value of $100) is 90.Further, the price of a European call with a strike price of $20 and 1-year til expiration is $9, while...
Saccharin is an artificial sweetener that is used in diet beverages. In order for it to be metabolized by the body, it must pass into cells. Below are shown the two forms of saccharin. Saccharin has...
Can you think of any drawbacks in providing interim financial statements for users? R3
A year ago Pod Limited bought 225,000 1 fully paid ordinary shares of Pea Limited for a consideration of 500,000. Pea Limiteds share capital and share premium were each the same as at todays date....
Segmental information relating to Dali pic for the year to 31 December 2012 is shown below. Required: Analyse the performance of each of the three main business segments for the year and comment on...

You placed $6,739 in a savings account today that earns an annual interest rate of 11.46 percent,

Question:

Expert Answer:

Students also viewed these finance questions