If you desire to have $10,000 for a down payment for a house in five years, what
Question:
If you desire to have $10,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 4 percent.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
10000...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9780077861742
5th Edition
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
If you desire to have $20,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 5 percent.
-
The technical rate of substitution between factors x 2 and x 1 is 4. If you desire to produce the same amount of output but cut your use of x 1 by 3 units, how many more units of x 2 will you need?
-
If you desire to withdraw the amounts given in Table P3.19 over the next five years from a savings account that earns 7% interest compounded annually, how much do you need to deposit now? Amount...
-
You are a lead auditor from ABC Auditors Pty Ltd. Your client is Cassey's Quality Cars Ltd who are a large car dealership with branches across Queensland. ABC Auditors have performed audits for past...
-
Suppose that among the 15 million unemployed people in Problem 7-17, currently 6.9 million are frictionally unemployed, 5.9 million are cyclically unemployed, and 2.2 million are structurally...
-
Freshwater and seawater flowing in parallel horizontal pipelines are connected to each other by a double U-tube manometer, as shown in Fig. P169, determine the pressure difference between the two...
-
Weve all worked for organizations with bosses who we believed judged our performance unfairly or gave us inaccurate feedback. Think back to one of those times, and consider how it affected your...
-
It takes a force of 80.0N to compress the spring of a toy popgun 0.200m to load a 0.180-kg ball. With what speed will the ball leave the gun?
-
Please include an explanation to why the option you chose is correct. Each option has an incorrect answer which I have added after the question. Thank you 1. The following table shows the number of...
-
Raveena is a resident of the Republic. She is 30 years old. She is married in community of property. Her husband did not earn any passive income. The following information relates to the 2021 year of...
-
What are some examples of personal opportunity costs?
-
What does time value of money measure?
-
Assume that two securities constitute the market portfolio. Those securities have the following expected returns, standard deviations, and proportions: Based on this information, and given a...
-
Write a brief statement that interprets the confidence interval. Choose the correct answer below. A. There is a 99% chance that the true value of the population mean weight of newborn girls will fall...
-
Transcribed image text: If estimated annual factory overhead is $1,072,500; overhead is applied using direct labor hours, estimated annual direct labor hours are 275,000 actum March factory overhead...
-
Your firm has limited capital to invest and is therefore interested in comparing projects based on the profitability index (PI), as well as other measures. What is the PI of the project with the...
-
The following rates are applicable to annual payroll in British Columbia Question 17 options: 1234 1.95% x total B.C. remuneration 1234 2.925% x (B.C. remuneration - $500,000) 1234 Tax Rate 1234...
-
Assume that different groups of couples use a particular method of gender selection and each couple gives birth to one baby. This method is designed to increase the likelihood that each baby will be...
-
Discuss how to interpret control charts. What types of patterns indicate a lack of control?
-
Briefly describe the following types of group life insurance plans: a. Group term life insurance b. Group accidental death and dismemberment insurance (AD&D) c. Group universal life insurance d....
-
What would it cost an insurance company to replace a familys personal property that originally cost $40,000? The replacement costs for the items have increased 15 percent.
-
What amount would a person with actual cash value coverage receive for two-year old furniture destroyed by a fire? The furniture would cost $2,000 to replace today and had an estimated life of five...
-
Most home insurance policies cover jewelry for $2,000 and silverware for $5,000 unless items are covered with additional insurance. If $9,000 worth of jewelry and $12,000 worth of silverware were...
-
Which of the following statements regarding traditional cost accounting systems is false? a. Products are often over or under cost in traditional cost accounting systems. b. Most traditional cost...
-
Bart is a college student. Since his plan is to get a job immediately after graduation, he determines that he will need about $250,000 in life insurance to provide for his future wife and children...
-
Reporting Financial Statement Effects of Bond Transactions (please show me how you got the answers) Lundholm, Inc., which reports financial statements each December 31, is authorized to issue...
Study smarter with the SolutionInn App