If you deposited $10,000 in a savings account that earns 2 percent, how much would you have
Question:
If you deposited $10,000 in a savings account that earns 2 percent, how much would you have at the end of ten years? Use a convenient format to display your computations.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
10000 ...View the full answer
Answered By
Charles mwangi
I am a postgraduate in chemistry (Industrial chemistry with management),with writing experience for more than 3 years.I have specialized in content development,questions,term papers and assignments.Majoring in chemistry,information science,management,human resource management,accounting,business law,marketing,psychology,excl expert ,education and engineering.I have tutored in other different platforms where my DNA includes three key aspects i.e,quality papers,timely and free from any academic malpractices.I frequently engage clients in each and every step to ensure quality service delivery.This is to ensure sustainability of the tutoring aspects as well as the credibility of the platform.
4.30+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
Question Posted:
Students also viewed these Business questions
-
Maria has set a goal to save $10 000 in a savings account that earns 2.4% compounded annually. How much must she deposit each year for five years if the deposits are made at the end of each year?
-
You have set a goal to save $10 000 in a savings account that earns interest at 2.54% compounded quarterly. How much must you deposit every three months for 5 years if the deposits are made at the...
-
You deposit $10,000 in a savings account that earns 7.5% simple interest per year. What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the...
-
Which of the following would be least important in the pursuit of a time-based strategy? A) flexible technology B) operational agility C) reduced complaint resolution times D) quick changeover times...
-
Describe the intracellular signaling cascade mediated by phospholipase C activity. How is phospholipase C activated?
-
What are the implications on access and availability of types of care provided by your institution?Explain
-
If the yield to maturity on a two-year zero coupon bond is 13 per cent and the yield to maturity on a one year zero coupon bond is 10 per cent, what is the expected spot rate of one-year bonds in one...
-
Customer profitability, distribution. Figure Four is a distributor of pharmaceutical products. Its ABC system has five activities: Rick Flair, the controller of Figure Four, wants to use this ABC...
-
Problem 5 You have the following two mortgage choices: Fixed-rate Mortgage $100,000 Mortgage Amount Term The payment rises each year Discounts Points Costs with Loan Orignation Initial Contract...
-
Reyes Company transfers out 12,000 units and has 2,000 units of ending work in process that are 25% complete. Materials are entered at the beginning of the process and there is no beginning work in...
-
On January 1, 2017, Alan King decided to transfer an amount from his chequing account into a savings account that later will provide $80,000 to send his son to university (four years from now). The...
-
As a result of a slowdown in operations, Mercantile Stores is offering employees who have been terminated a severance package of $100,000 cash, another $100,000 to be paid in one year, and an annuity...
-
The general ledger of Hensley Company contained the following Accounts Payable control account (in T-account form). Also shown is the related subsidiary ledger. Instructions (a) Indicate the missing...
-
(f-g)(x)=x+7-x+6 What is the domain off-g? OA. The domain of f- g is OB. The domain of f -g is O C. The domain of f-g is (Use a comma to separate answers as needed.) (Type your answer in interval...
-
In the Alan Watts lecture on Bhagavad Gita several important points are raised regarding intentions, modern warfare and fear. Restate these points and apply them to current problems, either in...
-
Have you ever had a goal that was set, you reached it and no reward or recognition was given? Can you remember the goal and how it felt? Let's take a look at some goals that you want to reach in the...
-
How do load balancers interact with security devices like firewalls and intrusion detection systems? What measures are necessary to ensure a secure integration?
-
Explain the concept of sharding in load balancing. How does it contribute to improved scalability and data distribution across large-scale systems?
-
Discuss how you will use social media to promote the Community Action Agency of Delaware County Pennsylvania Include the following for your Social Media Promotions Plan: A general synopsis of why...
-
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
-
Using the information in M8-7 and M8-8, prepare the journal entry to record the end-of-period adjustment for bad debts under the (a) percentage of credit sales method and (b) aging of accounts...
-
Blackhorse Productions, Inc., used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $ 19,750. The account had an unadjusted credit balance of $...
-
a. 2014/July 1 Loaned $ 70,000 to an employee of the company and received back a one-year, 10 percent note. b. Dec. 31 Accrued interest on the note. c. 2015/July 1 Received interest on the note. (No...
-
3 a) Describe role played by the internal and external audit in the public sector b)What circumstances would lead to separate disclosure of items of revenue and expense.
-
Note: For all the questions, do not round intermediate calculations and round your final answers to the nearest two decimal places. 1. A fully amortizing CAM loan is made for $133,000 at 6 percent...
-
If a venture has a return on assets (ROA) = 20%, an equity multiplier based on beginning equity 3.75 times, Net Income of 200,000 and Dividends of 100,000, the sustainable growth rate would be: 37.5%...
Study smarter with the SolutionInn App