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
-
A fluid is pumped into the network shown in Figure. 1f Q 2 = 0.6, Q 3 = 0.4, Q 7 = 0.2, and Q 8 = 0.3 m 3 /s, determine the other flows. Qs
-
Benjamin and Mia both work at the Grease Fire diner, a local eatery. Benjamin has every 4th day off, and Mia has every 6th day off. How many days pass until they have another day off together?
-
Large Lots is planning a seven-day promotion on a discontinued model of 31" color television sets. At a price of $575 per set, the daily demand for this type of TV has been estimated as follows:...
-
I need help filling the boxes that I haven't filled in yet. I would much appreciate the help! thank you With the partial model please forecast Zieber's 2017 income statement and balance sheets. Use...
-
Kross, Inc., provides appraisals and feasibility studies. On January 1, 2019, its beginning account balances are as follows: Cash, $6,700; Accounts Receivable, $14,800; Notes Payable, $2,500;...
-
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...
-
Discuss the domain of the six zone presidents. Why do you think AB InBev divided duties in this fashion?
-
By paying a student-athlete to endorse its brand or company, what value or benefit does the company receive? What are potential risks associated with entering into a NIL agreement with a student...
-
On April 1, 2024, La Salsa Corporation sold some equipment for $18,000. The original cost was $50,000, the estimated residual value was $8,000, and the expected useful life was six years. On December...
-
compare the process of managing an operating budget to that of managing a capital budget and identify knowledge gap
-
A proton is hovering above the center of a 2m wide circular table without moving. You discover the table surface has a total net charge of +50uC. How high above the table must the proton be located...
-
Eastport Inc. was organized on June 5, 2016. It was authorized to issue 300,000 shares of $10 par common stock and 50,000 shares of 5 percent cumulative class A preferred stock. The class A stock had...
-
\(n\) points are placed on a circle, and each pair of points is joined by a straight line. The points are chosen so that no three of these lines pass through the same point. Let \(r_{n}\) be the...
-
What are the two methods used to translate financial statements and how does the functional currency play a role in determining which method is used?
-
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?
-
. Task 2: Multi-Stage Shortest Path Problem: Solve this problem using the Greedy method and Dynamic Programming. (50 points) 3 2 4 7 5 4 3 6 7 6 1 5 2 9 5 2 6 3 3 8 6 8 2 S=1 S=2 S=3 S=4 S=5
-
Can someone experienced in html and javascript explain how to get the save button to save the results into the hours worked, and how to code the valid & invalid forms . Task name (text field) ...
-
I dont understand thi. Students Grades: Create a Java application in NetBeans called "Lab07" that prompts the user to enter a length of an array, and then prompts the user to enter that numb...
Study smarter with the SolutionInn App