Every year you deposit $2,000 into an account that earns 2% interest per year. What will be
Question:
Every year you deposit $2,000 into an account that earns 2% interest per year. What will be the balance of your account immediately after the 30th deposit?
(a) $44,793
(b) $60,000
(c) $77,385
(d) $81,136
(e) $82,759
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
F 2000 FA230 ...View the full answer
Answered By
Pharashram rai
i am highly creative, resourceful and dedicated freelancer an excellent record of successful classroom presentations and writing . I have more than 4 years experience in tutoring students especially by using my note making strategies and engineering field . Especially adept at teaching methods of maths and writing , and flexible teaching style with the willingness to work beyond the call of duty. Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with .
4.80+
65+ Reviews
270+ Question Solved
Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Question Posted:
Students also viewed these Business questions
-
Suppose today is July 1, 2004, and you deposit $2,000 into an account today. Then you deposit $1,000 into the same account on each July 1, beginning in 2005 and continuing until the last $1,000...
-
(Multiple Choice) 1) Holding all other variables constant, an increase in the interest rate will cause ________ to decrease. a. Future values b. Annuity payments c. Present values d. Growth rates 2)...
-
Suppose you have accumulated a credit card balance of $500, at an annual interest rate of 10 percent. You are also planning to open a new savings account that accumulates interest at an annual rate...
-
Josie Inc. collects cash from customers two ways: 1. Accrued Revenue. Some customers pay Josie after Josie has performed service for the customer. During 2017, Josie made sales of $50,000 on account...
-
Take a look at Figure 21-1. Suppose that Q1 = 10 acres and P1 = $2,000 per acre. What is the dollar amount of economic rents received during the current period, and why is this amount classified as...
-
Pyramid Company is a small rug retailer owned and operated by Rosemary Endecott. After the accounts have been adjusted on January 31, the following selected account balances were taken from the...
-
The 2021 income statement of Adrian Express reports sales of $19,310,000, cost of goods sold of $12,250,000, and net income of $1,700,000. Balance sheet information is provided in the following...
-
Lamb Inc. produces calendars in a two-process, two-department operation. In the Printing Department, calendars are printed and cut. In the Assembly Department, the material received from Printingis...
-
An investment is likely to be legitimate if: Group of answer choices The company has a prestigious office location The promotional materials and company Web site look professional The company has an...
-
Jimmy owns a garden in which he has planted N trees in a row. After a few years, the trees have grown up and now they have different heights. Jimmy pays much attention to the aesthetics of his...
-
Consider the following sequence of year-end cash flows: What is the uniform annual equivalent if the interest rate is 12% per year? (a) $20,422 (b) $17,511 (c) $23,204 (d) $22,000 (e) $12,422 2 Cash...
-
If you borrow $3,000 at 6% simple interest per year for seven years, how much will you have to repay at the end of seven years?(4.2) (a) $3,000 (b) $4,511 (c) $1,260 (d) $1,511 (e) $4,260
-
A pair of charged parallel plates are arranged horizontally in a vacuum. The upper plate carries a negative charge and the lower plate is earthed. An electron enters the space between the plates at...
-
If Technical Specification 2 were reduced in the next design for this product, what would likely happen to customer opinion of Value Feature A? Quick Start QFD Matrix 2 Strong positive correlation...
-
Customer opinion of Value Feature B is most strongly correlated with what technical specification? Quick Start QFD Matrix 2 Strong positive correlation Some positive correlation == Strong negative...
-
Consider Quick Start QFD Matrix 1 above. Of the two value features, which do cus- tomers consider three times more important? Quick Start Quick Start QFD Matrix 1 = Strong positive correlation = Some...
-
Which technical spec can be most easily modified without changing current choices for the other two technical specs? Quick Start Quick Start QFD Matrix 1 = Strong positive correlation = Some positive...
-
Use Table A.1 to select 20 three-digit random numbers. Did any of the numbers occur more than once? How is it possible for a number to occur more than once? Make a stem-and-leaf plot of the numbers...
-
Suppose that in a randomized experiment investigating the effect of incentive on whether a person agrees to take a survey, the data are as given in this table. What is an appropriate way to evaluate...
-
Data on weekday exercise time for 20 females, consistent with summary quantities given in the paper An Ecological Momentary Assessment of the Physical Activity and Sedentary Behaviour Patterns of...
-
Suppose coal experiences a 3% increase per year in real terms over the foreseeable future. The I cost of 1,000 cubic feet of coal is now $6,000. a. What will be the cost in real terms of 1,000 cubic...
-
Refer to Example 4-8. If inflation is expected to average 3% per year over the next 60 years, your purchasing power will be less than $1,107,706. a. When f = 3% per year, what is the purchasing power...
-
Four hundred pounds of copper are used in a typical 2,200-square-foot newly constructed house. Today's copper price is $3.75 per pound. a. If copper prices are expected to increase 8.5% per year (on...
-
Los siguientes datos corresponden a las operaciones de Turk Company el ao pasado: Ventas $ 900 000 Utilidad operativa neta $ 36 000 Margen de contribucin $ 150 000 Activos operativos promedio $ 180...
-
Problem 16-16 Tax Shields (LO2) River Cruises is all-equity-financed with 53,000 shares. It now proposes to issue $280,000 of debt at an interest rate of 12% and to use the proceeds to repurchase...
-
In a process costing system, companies use predetermined overhead rates to apply overhead
Study smarter with the SolutionInn App