What monthly deposit is required to accumulate $10,000 in eight years if the deposits earn an annual

Question:

What monthly deposit is required to accumulate $10,000 in eight years if the deposits earn an annual rate of 8 percent, compounded monthly?

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

Step by Step Answer:

Related Book For book-img-for-question

Real Estate Principles A Value Approach

ISBN: 978-0077836368

5th edition

Authors: David C Ling, Wayne Archer

See More Books

Question Posted: May 27, 2018 07:47 AM

See More Questions

Joe Macro wishes to have accumulated $60,000 ten years from today by making an equal annual deposit into an account that pays 10 percent, compounded quarterly. a. What is the effective annual...
In eight years, Kent Duncan will retire. He is exploring the possibility of opening a self-service car wash. The car wash could be managed in the free time he has available from his regular...
1. What is the total amount accumulated after five years if someone invests $1,000 today with a simple annual interest rate of 8 percent? How about with a compound annual interest rate of 8 percent?...
Can you provide an example of when you led a previous organization through a major operational change? Did you encounter any obstacles and how did you motivate and guide your team through these...
Suppose that the spread of a disease through the student body at an isolated college campus can be modeled by where y is the total number affected at time t (in days). Find the rate of change of y....
Suppose the two countries we considered in the numerical example on pages 166169 were to integrate their automobile market with a third country, which has an annual market for 3.75 million...
Fashion Fabrics makes custom handbags and accessories for high-end clothing boutiques. Record summary journal entries for each of the following transactions that took place during the month of...
Using the full spectrum of segmentation variables, describe how Starbucks initially segmented and targeted the coffee market. By now, you should be familiar with the Starbucks story. After a trip to...
Identify 2 tools used for backup purposes that would support business continuity to ensure that the data can be accessed during the disaster. Explain who is responsible for the backup. How often...
Zim Company uses the following cost function: Y = $4200 + $5.25X. If the number of units produced in a month is 100, what would be the total cost?
Assume the total cost of a college education will be $310,000 when your infant child enters college in 18 years. How much you invest at the end of each month in order to accumulate the required...
Calculate the present value of the income stream given below assuming a discount rate of 8 percent. What happens to present value if the discount rate increases to 20 percent?...
The General Social Survey asked 1,578 US residents: "Do you think the use of marijuana should be made legal, or not?" 61% of the respondents said it should be made 13 legal. (a) Is 61% a sample...
A contractor has to move 15 300 Bank m 3 of wet sandy material in rear dump trucks, which will be loaded by an excavator. Average face depth will be 2.4 m with 60-90 degree average swing angle. Ten...
BHT Company evaluates a project for a potential inclusion in its capital budget. In the first year of the project, it expects incremental net income of $33 million, depreciation expenses of $8...
Classify the singularities of this algebraic plane curve. y = x (x 1)(x 2) - Classify the singularities of this algebraic plane curve. - y = (x 2)(x 4)(x 6)
Based on this information, fill out the 1040 forms. Note: THESE ARE NOT REAL PEOPLE WITH MADE UP INFORMATION Cornstalk & Eliott 2020 Taxes: John Cornstalk with social security number 333-45-6789,...
You have recently been hired by Five Guys (burgers and fries) to assess the competitive landscape in the quick-service restaurant industry. The American Customer Satisfaction Index (ACSI) tracks...
Compute the l 1 -, l 2 -, and l -norms of the vectors. [0 0 0 -1 0] T
Why is it necessary to study the diffusion of molecules in biological systems?
MakeNu Mortgage Company is offering a new mortgage instrument called the Stable Mortgage. This mortgage is composed of both a fixed rate and an adjustable rate component. Mrs. Maria Perez is...
A floating rate mortgage loan is made for $100,000 for a 30-year period at an initial rate of 12 percent interest. However, the borrower and lender have negotiated a monthly payment of $800. a. What...
If an ARM is priced with an initial interest rate of 8 percent and a margin of 2 percent (when the ARM index is also 8 percent at origination) and a fixed rate mortgage (FRM) with constant payment is...
A corporation reported cash or 1 5 , 3 0 0 and total assets of 1 8 0 , 0 0 0 on its balance sheet it's common size present for cash will be?
Morty Industries, which uses a process - costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following information was taken...
The following information has been extracted from the financial statements of a company. Net income in 2 0 1 6 = $ 3 , 0 0 0 Annual depreciation in 2 0 1 6 = $ 1 , 0 0 0 Net operating working...

What monthly deposit is required to accumulate $10,000 in eight years if the deposits earn an annual

Question:

Step by Step Answer:

Assuming an 8 discount rate ...View the full answer

Real Estate Principles A Value Approach

Students also viewed these Business questions