Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Nov 07, 2023

1.2. Brenda needs to have an accumulated sum in the Bank of 300,000 SAR 5 years from now. How much money does she need

1.2. Brenda needs to have an accumulated sum in the Bank of 300,000 SAR 5 years from now. How much money does she need to deposit today to achieve that goal assuming the Bank pays a 2.5% interest rate per year?

Step by Step Solution

★★★★★

3.41 Rating (154 Votes )

There are 3 Steps involved in it

Step: 1

Use the formula A P x t Whene Afinal amount P initial deposit ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: Thomas Garman, Raymond Forgue

12th edition

9781305176409, 1133595839, 1305176405, 978-1133595830

More Books

Students also viewed these Finance questions

Question

Describe the properties of a normal distribution. Edit Insert Formats BIUX x A Q 3 3 A Identify a real-life variable that you would expect to be normally distributed. Why do you think it would be...

Answered: 1 week ago

Question

You are a Project Manager on site where work for 3K.m. long Tunnel has been undertaken. The site is remote and takes about 2 days travel to nearest town. Supervisors, Technicians & Skilled Workers...

Answered: 1 week ago

Question

★★★★★

Ques 1: What is the major complaint by firms concerning the Sarbanes-Oxley act of 2012? A. the legislative maximum allowable compensation for a CEO. B. the legal requirement to disclose project...

Answered: 1 week ago

Question

★★★★★

Acceleration is the rate of change of velocity with time. Is the acceleration vector always aligned with the velocity vector? Explain.

Answered: 1 week ago

Question

★★★★★

A 2-mm-thick layer of water on an electrically heated plate is maintained at a temperature of Tw = 340 K, as dry air at T = 300 K flows over the surface of the water (case A). The arrangement is in...

Answered: 1 week ago

Question

★★★★★

How can an entrepreneur stimulate publicity for his company?

Answered: 1 week ago

Question

★★★★★

1. Miss Johnson would like her students to be motivated to do their work without bribing them with treats or promises of extra recess time. Which one of the following is the type of motivation she...

Answered: 1 week ago

Question

★★★★★

Data on the average size of a soda (in ounces) at all 30 major league baseball parks are as follows: 14, 18, 20, 16, 16, 12, 14, 16, 14, 16, 16, 16, 14, 32, 16, 20, 12, 16, 20, 12, 16, 16, 24, 16,...

Answered: 1 week ago

Question

★★★★★

IN JAVA ONLY!! PLEASE NO COMPLEX, NO ARRAYS. THANK YOU!! Write a program that takes in three lowercase characters and outputs the characters in alphabetical order. Hint: Ordering three characters...

Answered: 1 week ago

Question

★★★★★

1. Discuss the main issues faced by Yalla Momos. 2. Evaluate the current financial performance of Yalla Momos and compare his performance to the industry ratios. 3. Elaborate on the relevant factors...

Answered: 1 week ago

Question

★★★★★

Assume that police estimate that 23 of drivers do not wear their seatbelts They set up a safety roadblock stopping cars to check for seatbelt use They stop 50 cars during the first hour 1 p a Find...

Answered: 1 week ago

Question

★★★★★

In a nuanced examination hospitality of leadership, what interplays of factors emerge as pivotal in concurrently augmenting employee task performance and mitigating resistance to delegation within...

Answered: 1 week ago

Question

★★★★★

10 The budgeting process usually takes place at the same time as what other process? 1 point Scheduling Production Delivery Procurement

Answered: 1 week ago

Question

★★★★★

Determine the x and y components of each of the forces shown.Determine the magnitude F and the angle theta with respect to the horizontal x axis of the resultant force vector F.Define vector F in the...

Answered: 1 week ago

Question

★★★★★

Organization: Conserveria Africana Ltd. in Nigeria Demonstrate the nexus between strategy and corporate social responsibility/sustainability and evaluate the concept of shared value. Please proper...

Answered: 1 week ago

Question

★★★★★

2. (4 points) Job 652 was recently completed. ABC Company has collected the following actual cost information about job 652: Manufacturing cost category Amount Direct manufacturing labor wages...

Answered: 1 week ago

Question

★★★★★

The residual risk associated with a particular risk response alternative equals the: a. likelihood that remains after the alternative is implemented multiplied by the impact that remains after the...

Answered: 1 week ago

Question

★★★★★

Find the equations of the ellipses satisfying the given conditions. The center of each is at the origin. Passes through (2, 2) and (1, 4)

Answered: 1 week ago

Question

★★★★★

1. Explain how the interest is calculated on a consumer loan that uses the declining-balance method. 2. Summarize how interest is calculated on a consumer loan that uses the add-on method. 3. What is...

Answered: 1 week ago

Question

★★★★★

1. Explain why the portions of a monthly mortgage payment that are allocated toward interest and toward principal will vary as the loan is repaid. 2. Distinguish between a conventional mortgage loan...

Answered: 1 week ago

Question

★★★★★

1. What is the goal of comparison shopping? 2. Explain why lease payments for a new vehicle are lower than loan payments for the same vehicle. 3. Describe the relationships among capital cost,...

Answered: 1 week ago

Question

★★★★★

Freud proposed that the development of the voice of our moral compass is related to the _______, which internalizes ideals and provides standards for judgments.

Answered: 1 week ago

Question

★★★★★

Evidence of a biochemical influence on aggression is the finding that aggressive behavior varies widely from culture to culture. animals can be bred for aggressiveness. stimulation of an area of the...

Answered: 1 week ago

Question

★★★★★

Researchers have found that a person is most likely to conform to a group if the group members have diverse opinions. the person feels competent and secure. the person admires the groups status. no...

Answered: 1 week ago

Previous Question Next Question