A student wants to have $30,000 at graduation 4 years from now to buy a new car.
Question:
A student wants to have $30,000 at graduation 4 years from now to buy a new car. His grandfather gave him $10,000 as a high school graduation present. How much must the student speech year if he deposits the $10,000 today and can earn 12% on both the $10,000 and his earnings in a mutual fund his grandfather recommends?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (21 reviews)
P 10000 i 12 F 30000 ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
A student wants to test whether exercise helps people quit smoking. She surveys adults, asking whether they ever smoked, whether they ever quit smoking, and whether they exercise. The student...
-
A student wants to scale down Michelsons light-speed experiment to a size that will fit in one room. A six sided mirror is available, and the stationary mirror can be mounted 12 m from the rotating...
-
A student wants to clone gene X. On both sides of the gene are the recognition sequences for AluI and BamHI. Which enzyme would be easier to use for the cloning experiment and why?
-
For this final discussion board, please reflect back on your accounting courses and answer the following questions: 1. Which course in the accounting program did you find to be the most difficult? 2....
-
Write the complex number in standard form? 1. 4 + (9 2. 3 + (16 3. i2 + 3i 4. 5i + i2
-
Outsourcing decision with qualitative factors Nadir Corporation which makes and sells 79,400 radios annually, currently purchases the radio speakers it uses for $12 each. Each radio uses one speaker....
-
S&P Equity Returns History. The U.S. equity markets have delivered very different returns over the past 90 years. Use the following data arranged by decade to answer the following questions about...
-
Bakely Company reports the following information (in millions) during a recent year: net sales, $11,408.5; net earnings, $264.8; total assets, ending, $4,312.6; and total assets, beginning, $4,254.3....
-
Solve the following matrix equation, then select the answer that provides, in the correct order, the values of x1, x2, and x3 8 -2 -1] [x1 [7] -3 2 5 x2 = 4 2 -12 5 [x3_ 2. 1.368, 1.059, -0.3849...
-
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. During 20x1, the company purchased $250,000 of raw material...
-
Using linear interpolation, determine the value of (P / A, 61/2%,10) from the compound interest tables. Compute this same value using the equation. Why do the values differ?
-
A city engineer knows that she will need $25 million in 3 years to' replace toll booths on a toll road in the city. Traffic on the road is estimated to be 20 million vehicles per year. How much per...
-
Accountants establish careers in either the public or private sectors of the economy. Required a. Explain how a career in public accounting differs from a career in private accounting. b. Name and...
-
Use the method of your choice to determine the following probability. 12 months 7 days Being born in February or on a Saturday assuming year week P(February or Saturday) = (Type an integer or decimal...
-
Serena and Venus Williams start 150 m apart and begin running towards each other. Serena has a speed of 7.5 m/s and Venus has a speed of 5.0 m/s. How long does it take for them to meet? A. 9 s B. 10...
-
Let X be a random variable with pdf given by Find mgf Mx(t). -x/B f(x)= x>0 0, otherwise.
-
The Assembly Department uses a process cost accounting system. The department adds materials and incurs conversion costs uniformly throughout the process. During May, $200,000 of materials costs and...
-
4. For each integer n with n 2, let P(n) be the formula n(n-1)(n+1) + i(i+1)= 3 a. Write P(2). Is P(2) true? b. Write P(k). c. Write P(k+1). d. In a proof by mathematical induction that the formula...
-
Suppose that you prepare a trial balance and discover that total debits do not equal total credits. What are some of the errors that you might have made?
-
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended...
-
Why do you think that returning home that is, repatriation can sometimes be more challenging than expatriation?
-
For the cash flow series below, calculate the external rate of return, using the return on invested capital approach with an investment rate of 14% per year. Year Cash Flow, $ 0 .......... 3000 1...
-
Five years ago, a company made a $500,000 investment in a new high-temperature material. The product did poorly after only 1 year on the market. However, with a new name and advertising campaign 4...
-
What is the bond coupon rate on a $25,000 mortgage bond that has semiannual interest payments of $1250 and a 20-year maturity date?
-
Pine Corporation has sales revenue of $530,000 resulting in net operating income of $73,140. Average invested assets total $688,000. Residual income is $27,000. Calculate the new residual income if...
-
Your Corporation started a consulting business on January 1, 2019 by issuing $7,000 of common stock. What was net cash flow from operating activities? Provided services on account, $25,000. Incurred...
-
Investing activities do not include the: Multiple Choice Issuance of common stock. Sale of investments. Purchase of plant assets. Loaning of money in exchange for notes receivable. Sale of plant...
Study smarter with the SolutionInn App