You're trying to save to buy a new $190,000 Ferrari. You have $40,000 today that can be
Question:
You're trying to save to buy a new $190,000 Ferrari. You have $40,000 today that can be invested at your bank. The bank pays 4.8 percent annual interest on its accounts. How long will it be before you have enough to buy the car?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
To answer this question we can use either the FV or t...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Fundamentals of corporate finance
ISBN: 978-0078034633
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Question Posted:
Students also viewed these Corporate Finance questions
-
You're trying to save to buy a new $225,000 Ferrari. You have $45,000 today that can be invested at your bank. The bank pays 4.8 percent annual interest on its accounts. How long will it be before...
-
Youre trying to save to buy a new $245,000 Ferrari. You have $50,000 today that can be invested at your bank. The bank pays 4.3 percent annual interest on its accounts. How long will it be before you...
-
Youre trying to save to buy a new $175,000 Ferrari. You have $35,000 today that can be invested at your bank. The bank pays 2.9 percent annual interest on its accounts. How long will it be before you...
-
A company has the following data: net sales, $405,000; cost of goods sold, $220,000; selling expenses, $90,000; general and administrative expenses, $60,000; interest expense, $4,000; and interest...
-
Determine the plastic modulus Z and shape factor f for a W 12 x 14 wide-flange beam.
-
Suppose that 20 of the parts manufactured by the processes in Exercise 8.11 were assembled so that their dimensions were additive; that is, x x1 x2 Specifications on x are 2,000 200. Would you...
-
Air at standard conditions flows through an 8-in.-diameter, 14.6-ft-long, straight duct with the velocity versus head loss data indicated in the following table. Determine the average friction factor...
-
Would the name Hallowed receive protection as a trademark or as trade dress? Two computer science majors, Trent and Xavier, have an idea for a new video game, which they propose to call Hallowed....
-
What are some things that are shown on a right-of-way map? 2. What Florida Department of Transportation District is Valencia College or the Central Florida Region in? 3. Name three things you will...
-
Wesco Incorporateds only product is a combination fertilizer/weedkiller called GrowNWeed. GrowNWeed is sold nationwide to retail nurseries and garden stores. Zwinger Nursery plans to sell a similar...
-
In January 2010, the average house price in the United States was $283,400. In January 2000, the average price was $200,300. What was the annual increase in selling price?
-
Imprudential, Inc., has an unfunded pension liability of $575 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts want to discount this liability back...
-
To manufacture a certain alloy wheel, it is necessary to use \(33 \mathrm{oz}\) of metal A and \(56 \mathrm{oz}\) of metal B. It is easier for the manufacturer to buy and mix two products that come...
-
How did Adina De Zavala save the Long Barracks one of the surviving buildings at the Alamo where much of the fighting of the battle occurred?
-
On January 1 , Year 1 , Romano Tire Service, Inc. signed a contract to have a new service center built for $ 9 0 0 , 0 0 0 . On the same day, Romano borrowed $ 4 0 0 , 0 0 0 to finance the...
-
Suppose the demand for pizza in a small isolated town is p = 10 - Q. There are only two firms, A and B. Each has a cost function TC = 2 + Q. a. Determine how much each will produce if they agree to...
-
Hobby Shop Incorporated produces three different models with the following annual data (this is the base case). Selling price per unit Variable cost per unit Expected unit sales Sales mix Fixed costs...
-
a business school associate dean, decides she wants to have more exposure to how her professors engage students in the classroom. What approach to on-the-job training should Judy use? View and...
-
A 100.0-mL sample of air is collected at 21 C and 772 mm Hg. What is the volume of air at STP?
-
Construct a 4 x 25 design confounded in two blocks of 16 observations each. Outline the analysis of variance for this design.
-
Use the data given in question 24 of Chap. 2 to compute the correlation coefficient between J&Js current ratio and the industrys. Question 24 of Chap. 2 You are given the following financial ratios...
-
Electronic Timing, Inc. (ETI), is a small company founded 15 years ago by electronics engineers Tom Miller and Jessica Kerr. ETI manufactures integrated circuits to capitalize on the complex...
-
Electronic Timing, Inc. (ETI), is a small company founded 15 years ago by electronics engineers Tom Miller and Jessica Kerr. ETI manufactures integrated circuits to capitalize on the complex...
-
Grohl Manufacturing, Inc., has recently installed a just-in-time (JIT) inventory system. Describe the effect this is likely to have on the companys carrying costs, shortage costs, and operating cycle.
-
Athens Gas Station has figured out the weekly demand distribution for their gas sales. Each gallon of gas sold at the pump results in a profit of 10 cents/gallon and any lost sales results in a cost...
-
1. The maximum pressure an eardrum can withstand without rupturing is Pmax = 3.0102 Pa. Assume a sound is made at that pressure. If the density of air is, p=1.20 kg/m, and the speed of sound is 340...
-
52. A wave is sent down a string with a linear mass density of 1.600 x 10-4 kg/m. The wavefunction that describes this wave is: y(x,t) = (0.021 m)*sin{(2.00 rad/m)*x + (30.0 rad/s)*t} What is the...
Study smarter with the SolutionInn App