FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

13. YOUR BROTHER, WHO IS 6 YEARS OLD, JUST RECEIVED A TRUST FUND THAT WILL BE WORTH $25,000 WHEN HE IS 21 YEARS OLD. iF

image text in transcribed
image text in transcribed
13. YOUR BROTHER, WHO IS 6 YEARS OLD, JUST RECEIVED A TRUST FUND THAT WILL BE WORTH $25,000 WHEN HE IS 21 YEARS OLD. iF THE FUND EARNS 10 PERCENT INTEREST COMPOUNDED ANNUALLY, WHAT IS THE VALUE OF THE FUND TODAY? 3 $6,575 E $7,427. a $5,975; n=15; I/Y=10; .mt=o; FV=25,000; c .t. PV=5,985 El $8,591 e. $6,875

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image

Step: 3

blur-text-image

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

Probability And Statistics

Probability And Statistics

Authors: Morris H. DeGroot, Mark J. Schervish

4th Edition

9579701075, 321500466, 978-0176861117, 176861114, 978-0134995472, 978-0321500465

More Books

Students also viewed these Finance questions

Question

★★★★★
A rent-to-own (RTO) agreement appeals to low-income and financially distressed consumers. It allows immediate access to merchandise, and by making all payments, the consumer acquires the merchandise....

Answered: 1 week ago

Question

★★★★★
For an individual taxpayer, expenses connected with rents and royalties are normally deducted: a. For AGI b. From AGI c. Either for or from AGI d. For AGI but limited to a maximum percentage amount

Answered: 1 week ago

Question

★★★★★
1. Pupils can be trusted to work together without supervision.

Answered: 1 week ago

Question

★★★★★
Black Hills Corporation is a diversified energy corporation and a public utility holding company. The following gives the firm's earnings per share and dividends per share for the years 2000-2004...

Answered: 1 week ago

Question

★★★★★
Studies show that the legal protection of shareholder rights varies a great deal acrosscountries. Discuss the possible reasons why the English common law traditionprovides the strongest and the...

Answered: 1 week ago

Question

★★★★★
33. When the dollar appreciates A. Foreign goods become more expensive for Americans B. Foreign goods become less expensive for Americans C. American goods become less expensive for foreigners D. All...

Answered: 1 week ago

Question

★★★★★
Morty Albertson owns a funeral home business with two separate funeral homes that employ a total of 27 employees. One of the strategic goals for his business this year is customer focused: to...

Answered: 1 week ago

Question

★★★★★
1.According to results from a research trial for a painful, shoulder condition resulted in reduced pain and better physical function than treatment with just physical therapy. Researchers followed...

Answered: 1 week ago

Question

★★★★★
Exercise One TERM:" Mens Rea" Locate and cite the Colorado Statute addressing culpability requirements Locate and cite the William Mitchell Law Review article discussing Mens Rea in the State of...

Answered: 1 week ago

Question

★★★★★
Agile PMs must sense and align individuals, teams, and stakeholders. Which of the following is NOT a way to empower others? Please choose the best answer below: Establishing systems of ownership...

Answered: 1 week ago

Question

★★★★★
You and your friend Olivia are both volunteers at a cat rescue. The shelter supervisor asks the two of you to clean out kennels and haul bags of cat food from the donation area to the storage area....

Answered: 1 week ago

Question

★★★★★
A company makes an initial $10,000 investment in a project. This project is projected to earn $8000 in year one, $10,000 in year 2, $12,000 in year 3, and $20,000 in year 4. If the interest rate is...

Answered: 1 week ago

Question

★★★★★
What is the difference between a secured loan and an unsecured loan? LO.1

Answered: 1 week ago

Question

★★★★★
Discuss the types of interest rates that may apply to a loan. LO.1

Answered: 1 week ago

Question

★★★★★
Fixed-interest rate loans typically have _____________ rates than variable-rate loans.

Answered: 1 week ago

Previous Question Next Question