If your bank pays you 1.5% interest and you deposit $500 today, what will your balance be

Question:

If your bank pays you 1.5% interest and you deposit $500 today, what will your balance be in five years?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals of Corporate Finance

ISBN: 978-0321818171

2nd Canadian edition

Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford

See More Books

Question Posted: Jan 05, 2019 12:43 PM

See More Questions

Imagine that you have $100 of ill-gotten gains stashed in an offshore bank account. Lest the IRS get too nosey, you plan to leave that account idle until your retirement in 45 years. a. If your bank...
You are interested in saving to buy a new machine that costs $387,120. You can deposit $32,805 in your bank today. If your bank pays 14% annual interest on its accounts, how long will it take you to...
1. Your savings account pays 4 percent per year: Each $100 in the bank grows to $104 over a one-year period. If prices increase by 3 percent per year, by keeping $100 in the bank for a year you...
For each equation: a) Tell whether the equation describes a parabola, an ellipse, or a hyperbola. b) State whether the directrix is vertical or horizontal and give its location in relation to the...
The Inter Pipeline Fund is a major petroleum, natural gas liquids extraction, and bulk liquid storage business operating in Western Canada and Europe. The balance sheet and notes to its financial...
What are some industries in which products have proliferated and life cycles have shortened? How has the supply chains in these industries adapted?
REGRESSION AND INVENTORIES Charlies Cycles Inc. has $110 million in sales. The company expects that its sales will increase 5% this year. Charlies CFO uses a simple linear regression to forecast the...
On the first day of its fiscal year, Chin Company issued $10,000,000 of five-year, 7% bonds to finance its operations of producing and selling home improvement products. Interest is payable...
Melissa's company sells an online subscription to play a video game system for one year. It sells 4,000 subscriptions for $20 each on January 1, 2018. How much total revenue should be recognized by...
The following overview needs a proposal using word, excel and a powerpoint. Due to recent expansion, the Hudson River Accounting Corporation (HRAC) is requesting proposals for a thorough systems...
Why do firms disclose financial information?
The local electronics store is offering a promotion one year: same as cash, meaning that you can buy a TV now, and wait a year to pay (with no interest). So, if you take home a $1000 TV today, you...
Change the given quantity to the indicated quantity. When appropriate, round answers to the nearest hundredth. Use the conversion chart. 15 kg = ____________ lb. Length 1 inch (in.) 1 foot (ft) 1...
1. What gives stainless steels their good corrosion resistant properties? 2. Which stainless steel is the lowest cost and why? 3. What are some characteristics of Nickel Alloys? 4. What are the 2...
Problem 4. Determine the motion of a two-dimensional linear oscillator of potential energy V = kr
5 Informatics solutions in the "complex and catastrophic" end of the population-risk spectrum must support which type of services/functions? 1 point Intensive case management Wellness program
What are the characteristics of products that Otis Trains produces? What are order qualifiers and winners? Explain at least three advantages and three drawbacks of offshoring to JLPTC. What risks are...
Find the angle and length of the resulting vector for the given d and e vectors by the analytical method. After that, find the parameters of the resulting vector for the three vectors. In the answer,...
Correct the definition of the italicized term without reference to the text, if correction is needed, so that it is in a form acceptable for publication. If ab = 0, then a and b are divisors of zero.
If a and b are positive numbers, find the maximum value of f ( x ) = x a (9 x ) b on the interval 0 x 9.
What is the intuition behind valuation by multiples and what are the major assumptions?
What are the limitations of valuation by multiples?
How do interactions in a market lead to information being incorporated into stock prices?
Jen bought 100 shares of ABC stock at $15 a share on July 14, 2017. On August 7, 2018, she noticed that the stock had increased in value to $20 a share and decided to sell her shares. Jen's marginal...
Alex. Inci, buys 40 petcent of Steinbart Company on January 1, 2020, for $1.212.000. The equity method of accounting is to be used. Steinbart's net assets on that datewere $2.90 million. Any excess...
exercise 4-7 (Algo) Effects of transactions on income statement LO P2

If your bank pays you 1.5% interest and you deposit $500 today, what will your balance be

Question:

Step by Step Answer:

Plan The only way to compare all of these options i...View the full answer

Fundamentals of Corporate Finance

Students also viewed these Business questions