[Solved] 14. You deposit a single amount of $50,00

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 06, 2024

14. You deposit a single amount of $50,000 in a savings account that pays 7.2% annual interest (compounded quarterly). How much will you have at

14. You deposit a single amount of $50,000 in a savings account that pays 7.2% annual interest (compounded quarterly). How much will you have at the end of six and one-half years? a. $68,145 c. $72,664 b. $70,163 d. $79,508

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Fundamentals of Investing

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

12th edition

ISBN: 978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359

More Books

Students also viewed these Finance questions

Question

★★★★★

Sixty people with a certain medical condition were given pills. Fifteen of these people received placebos. Forty people showed improvement, and 30 of these had received an actual drug. How many of...

Answered: 1 week ago

Question

★★★★★

You run a linear regression model and you see that the t-statistic associated with the slope variable has a p-value of .00001. What is your reaction? a.I can't conclude anything with such a small...

Answered: 1 week ago

Question

★★★★★

2. ygqscribe your creative process as outlined in Figure 5.3. .

Answered: 1 week ago

Question

★★★★★

Deleon Inc. is preparing its annual budgets for the year ending December 31, 2014. Accounting assistants furnish the data shown below. An accounting assistant has prepared the detailed manufacturing...

Answered: 1 week ago

Question

★★★★★

You have just received notification that you have won the $1.5 million first prize in the Branson Lottery. However, the prize will be awarded on your 100 th birthday, 78 years from now. The...

Answered: 1 week ago

Question

★★★★★

Problem 7-10 (LO 7-7) Marc, Inc., owns 70 percent of SRS Company. During the current year, SRS reported net income of $305,000 but paid a total cash dividend of only $105,000. What deferred income...

Answered: 1 week ago

Question

★★★★★

describe why gland packing should have some small amount of leakage and may also require external cooling

Answered: 1 week ago

Question

★★★★★

In the Deacon process for the manufacture of C12, a dry mixture of HCl and air is passed over a heated catalyst that promotes the oxidation of HCl to Cl2. The Deacon process can be reversed and HCl...

Answered: 1 week ago

Question

★★★★★

fscanf retums a special value EOF that stands for...

Answered: 1 week ago

Question

★★★★★

Prepare Closing Entries to Retained Earnings The Decade Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $8,500; Dividends $2,000; Sales $22,000;...

Answered: 1 week ago

Question

★★★★★

An argument of one, it should return the next element. And so on. What restrictions do you have to put on the types of the arguments in order to write a function that type checks correctly?

Answered: 1 week ago

Previous Question Next Question