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:

Related Book For book-img-for-question

Fundamentals of Financial Accounting

ISBN: 978-1259269868

5th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

See More Books

Question Posted: Jan 21, 2020 01:42 PM

See More 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?
Payback Period and NPV: Taxes and Straight-Line Depreciation (LO2, 3, 6) Assume that United Technologies is evaluating a proposal to change the companys manual design system to a computer-aided...
Focus on the fixed and variable rates of texts only and depict the cost structure of plans A, B, and C as a function of text usage, as done in Figure 3.2. That is, assume that the customer only uses...
Many companies have adapted the cost of quality framework to environmental issues. They assign costs to one of four categories: prevention (P), appraisal (A), internal failure (IF), and external...
b. Calculate the HPH LUTUT c. How large a per-share cash dividend did the firmy P3-9 Changes in stockholders' equity "s in stockholders' equity Listed are the equiry sections of balance sheets for...
Two wires P and Q both obey Hookes law. They are both stretched and have the same strain. The Young modulus of P is four times larger than that of Q. The diameter of P is twice that of Q. What is the...
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...
Let X1, X2 be a random sample from the Cauchy distribution with pdf Consider the non-informative prior h(1, 2) 1 on that support. Obtain the posterior pdf (except for constants) of 1, 2 if x1 = 3...
Fill in the Blanks. Finite difference equations can be derived using ____________ different approaches.
Fill in the Blank. The excitation force is measured by a(n) _____________ cell.
You shine a laser pointer at an angle of $30^{\circ}$ from the normal onto the surface of a thick block of glass for which the index of refraction is $n=1.5$. (a) What is the angle of refraction...
At the beginning of the year, Azuza's Parking Lots had the following balance sheet: a. At the end of the year, Azuza had the following assets and liabilities: Cash, $\$ 7,800$; Accounts Receivable,...
The following information appears in the records of Stern Corporation at the end of the year: a. Calculate the amount of retained earnings at the end of the year. b. Using your answer from part...
A free-headed drilled shaft is shown in Figure P13.10. Let Q g = 260 kN, M g = 0, = 17.5 kN/m 3 , ' = 35, c' = 0, and E p = 22 10 6 kN/m 2 . Determine a. The ground line deflection, xo b. The...
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...
S Corporation is expanding rapidly and it currently needs to retain all of its earnings. Hence, it does not pay any dividends. However, investors expect S Corp to begin paying dividends with the...
What is law accordingly to John Austin ? In what sense laws are different from morality? Discuss the importance of knowing commercial law for business executives.
Joey purchased a 14-year T-bond with a 3.5% annual coupon four years ago at par. Today the bond's YTM 5%. If Cramer holds this bond to maturity, what internal rate of return will he earn on this...

If you deposited $10,000 in a savings account that earns 2 percent, how much would you have

Question:

Step by Step Answer:

10000 ...View the full answer

Fundamentals of Financial Accounting

Students also viewed these Business questions