At a return rate of 20% per year, the amount of money you must deposit for five
Question:
At a return rate of 20% per year, the amount of money you must deposit for five consecutive years starting 3 years from now for the account to contain $50,000 fifteen years from now is closest to:
(a) $1563
(b) $1759
(c) $1893
(d) $2093
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
AFA205FP208 5000...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
How much money would be accumulated 18 years from now from deposits of $15,000 per year for five consecutive years, starting 3 years from now, if the interest rate is 8% per year?
-
The XYZ companys current production processes have a scrap rate of 15% and a return rate of 3%. Scrap costs (wasted materials) are $12 per unit; warranty/repair costs average $60 per unit returned....
-
Cindy wants to deposit money for 4 consecutive years starting 3 years from now so she can withdraw $50,000 twelve years from now. Assume the interest rate is 8% per year. The annual deposit is...
-
Beck Manufacturing reports the following information in T-account form for 2019. The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished...
-
China has been a recipient of considerable investment recently. However, little research has been conducted by the green technologies company for which you work concerning the exact nature of...
-
Prior to Year 8, General Dynamics Corporation engaged in a wide variety of industries, including weapons manufacturing under government contracts, information technologies, commercial aircraft...
-
There are several exceptions to the hearsay rule. Identify at least three exceptions and give an example of each.
-
Paden signed an agreement dated May 28 to purchase the Murrays home. The Murrays accepted Padens offer the following day, and the sale closed on June 27. Paden and his family moved into the home on...
-
B. Cost of Sales Part 2: (5 x 2 points = 10 points) Write your answer before each no. Administrative Selling Net Cost of CASES Income Sales 48,000.0 1 0 Expenses 15% of Sales Expenses 13% of Sales OR...
-
A B E F 1 Better Bottles, Inc., uses a periodic inventory system and has the following information available: 2 Cost per Unit 20 $ 3 Description 4 Beginning Inventory 5 Jan. 15 Purchase 6 Jan. 20...
-
Tridiagonalize. Show the details. 1 1 1 1 1
-
You found a report stating that the equivalent annual worth of chemical costs associated with a water treatment process were $125,000 per year for a 5-year period. The report stated that the cost in...
-
Dylan Corporation issues a zero-coupon bond with $100,000 face value, with a 5-year maturity, and the market rate is 7%. Interest on corporate bonds is normally paid semiannually. In the liability...
-
In 2017, Eraser Corp had Revenue of $229 million, Cost of Goods Sold of $117 million (this includes Depreciation of $46 million), Sales General and Admin Expenses of $33 million, and faced a tax rate...
-
d The function, p(d)=1+ gives the pressure, in atmospheres (atm), at a depth d in the sea (d 33 is in feet). Note that p(0)=1 atm, p(33)=2, and so on. Find the pressure at 60 feet. The pressure at 60...
-
what are the " Data Types" in the relational model ? List the differences between "Domain and TYPE". (answer in 500 words atleast)
-
Identify cultural issues between firms, the public, and employees. Reaffirm the role of values and ethics in decision making and leadership. Confirm accountability and determine which people and...
-
Let x=(-11,-15). Find a vector, n, in the opposite direction of x such that ||n|| = 7. Enter your answer in exact form. Provide your answer below:
-
A force is found to be 240 g cm/s 2 . Convert this value into units of newtons.
-
Calculate the Lagrange polynomial P 2 (x) for the values (1.00) = 1.0000, (1.02) = 0.9888, (1.04) = 0.9784 of the gamma function [(24) in App. A3.1] and from it approximations of (1.01) and (1.03).
-
Stan Moneymaker needs 15 gallons of gasoline to top off his automobile's gas tank. If he drives an extra eight miles (round trip) to a gas station on the outskirts of town, Stan can save $0.10 per...
-
Often it makes a lot of sense to spend some money now so you can save more money in the future. Consider filtered water. A high-tech water filter costs about $50 and can filter 7,200 ounces of water....
-
The manufacturer of Brand A automobile tires claims that its tire can save 110 gallons of fuel over 55,000 miles of driving, as compared to a popular competitor (Brand B). If gasoline costs $3.00 per...
-
Influencer marketing on social platforms is integral to marketing campaigns of many brands. For FYiDoctors, it is also vital for the brand. FYIDoctors currently haven't hired any influencers, but it...
-
A conjoint analysis to estimate the partwords of individuals attributed levels of a smartwatch is being designed. There are three levels for the size attributed (40mm, 44mm and 46mm) and three levels...
-
Answer the question below for the bike company, Rad Power Bikes. Marketing Strategy a. The chosen strategy should fit the market and competitive conditions faced by the product and its strategic...
Study smarter with the SolutionInn App