The same salesperson offers you a lump sum of $20,000 in 10 years. How much should you
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
If the interest rate is still 9 percent the ...View the full answer
Answered By
Fahmin Arakkal
Tutoring and Contributing expert question and answers to teachers and students.
Primarily oversees the Heat and Mass Transfer contents presented on websites and blogs.
Responsible for Creating, Editing, Updating all contents related Chemical Engineering in
latex language
4.40+
8+ Reviews
22+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Exercises in compound interest, no income taxes. To be sure that you understand how to use the tables in Appendix B at the end of this book, solve the following exercises. Ignore income tax...
-
Bank A offers to pay you lump sum of $20,000 after 5 years, if you deposit $9,500 with them today. Bank B, on the other hand, says that they will pay you a lump sum of $22,000 after 5 years, if you...
-
Assume that you need $1,000 four years from today. Your bank compounds interest at an 8 percent annual rate. a. How much must you deposit one year from today to have a balance of $1,000 in your...
-
Determine if the following strains satisfy the compatibility equations (2.6.2): a. b. c. where A, B and C are constants. Equation 2.6.2 ex=Ay, ey = ez = 0, exy = (Ax+Bz)/2, eyz = Bxz + Cy, ezx = C.x
-
The Big Plastic Company manufactures a variety of plastic utensils, employing approximately 400 factory workers. Supervisors are paid a salary for a 40-hour week but receive overtime for hours worked...
-
he trial balance for Dennis?s Repair Service appears in Figure 4.28 . Adjustment Data to Update Trial Balance 1. Insurance expired, $200. 2. Repair supplies on hand, $2,300. 3. Depreciation on repair...
-
Explain induced drag and how the pilot changes it during flight.
-
Project K has a cost of $52,125, its expected net cash inflows are $12,000 per year for 8 years, and its cost of capital is 12 percent. (Hint: Begin by constructing a time line.) a. What is the...
-
Your company recently hired a new administrative assistant, Maryam Arjmand. On her first day, you stopped by her desk to meet her. During your conversation, you told her to let you know if there was...
-
WinterWearhouse operates a clothing store specializing in ski apparel. Given the seasonal nature of its business, often there is somewhat of an imbalance between when bills must be paid for inventory...
-
A salesperson calls you up and offers you $200 a year for life. If the interest rate is 9 percent, how much should you be willing to pay for that annuity?
-
What is the present value of a cash flow of $100 per year forever (a perpetuity), assuming: The interest rate is 10 percent. The interest rate is 5 percent. The interest rate is 20 percent. a....
-
For the function f(x) = x 2 , compute each average rate of change: (a) From 1 to 2 (b) From 1 to 1.5 (c) From 1 to 1.1 (d) From 1 to 1.01 (e) From 1 to 1.001 (f) Use a graphing utility to graph each...
-
A milkshake has a viscosity of 0.50 Pa s. To drink this shake through a straw of diameter 0.56 cm and length 22 cm, you need to reduce the pressure at the top of the straw to less than atmospheric...
-
How easy is it to breathe through a straw? When you breathe deeply, you pull in 4.0 L of air in about 3.0 s. This requires a pressure difference of about 4.0 kPa between the air in your lungs and the...
-
Using your favorite operating system, write code to spawn a process that writes Hello, world to the screen or flashes an LED, depending on your available output devices.
-
An audio system processes samples at a rate of 44.1 kHz. At what rate could we sample the systems front panel to both simplify analysis of the system schedule and provide adequate response to the...
-
Suppose an employee does a particularly poor job on an assigned project. Discuss the attribution process that this persons manager will use to form judgments about this poor performance. Be sure to...
-
Concern biodiesel, a fuel derived from renewable resources such as food crops, algae, and animal oils. The table shows the percent growth over the previous year in US biodiesel consumption. (a) True...
-
5. How much would you need to deposit in an account now in order to have $5,000 in the account in 5 years? Assume the account earns 2% interest compounded monthly. 10. You deposit $300 each month...
-
The imposition of a ceiling on the length of time a criminal case should take to get to trial is a multifaceted issue, balancing the defendant's right to a timely trial with the complexities of...
-
Discuss three changes written into the Constitution in 1789 that changed the government from what it was under the ArticIes of Confederation?
-
Assume South Park is initially closed to trade. Domestic supply and demand for winter hats is given by the following equations: D = 60 - 4P, S = 2P - 6. a. Suppose South Park opens up to trade and...
Study smarter with the SolutionInn App