Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 19, 2024

9 . Your grandmother invested a lump sum for you 2 0 years ago earning an average of 5 . 7 5 % per year

9 .

Your grandmother invested a lump sum for you

20

years ago earning an average of

5.75 %

per year over that time. Today, shegave you the proceeds of that investment which is now worth $

79, 539 .

How much did she originally invest?

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

Finance for Executives Managing for Value Creation

Authors: Gabriel Hawawini, Claude Viallet

4th edition

9781133169949, 538751347, 978-0538751346

More Books

Students also viewed these Finance questions

Question

Question 1 The Jumbo Group restaurant chain launched its initial public offering (IPO) in October 2015. As a financial analyst of Tiger Investment Fund, your boss has requested for you to brief her...

Answered: 1 week ago

Question

All 20 questions need to be answered within 90 minutes from this posting. Thanks! Please see attachment. Question 1 1. Bob bought some land costing $14,990 years ago. Today that same land is valued...

Answered: 1 week ago

Question

I've attached the attachment as a word file, thanks! JWCL165_c13_612-673.qxd 8/13/09 11:15 AM Page 612 13 Statement of Cash Flows Chapter STUDY OBJECTIVES After studying this chapter, you should be...

Answered: 1 week ago

Question

★★★★★

During the year ended 30 June 20X5, Gem Stone Ltd acquired two areas of interest Site A and Site B. The exploration and evaluation activities at Site A amounted to $64454401. The costs relate to the...

Answered: 1 week ago

Question

★★★★★

In a certain type of metal test specimen, the normal stress on a specimen is known to be functionally related to the shear resistance. The following is a set of coded experimental data on the two...

Answered: 1 week ago

Question

★★★★★

Consider the FayHerriot model in (14.5). Suppose that Ïd , Ï2 v , and Î² are known. a. Let With a [0, 1]. Show that, under the model in (14.5), EM [ËÎ¸d (a)...

Answered: 1 week ago

Question

★★★★★

Using the large sample confidence interval formula for ???????? ????????, compute a (a) 95% confidence interval for ???????? ???????? when ???????? = 50, ???????? = 50, ???????? = 0.32, and...

Answered: 1 week ago

Question

★★★★★

Elizabeth Pie Company has been in business for 50 years and has developed a large group of loyal restaurant customers. Giant Bakery Inc. has made an offer to buy Elizabeth Pie Company for $5,000,000....

Answered: 1 week ago

Question

★★★★★

With the recent popularity of adjustable-rate mortgages (ARM), lenders have begun to offer ARMs with different adjustment periods. Which of the following ARM choices will most likely have the lowest...

Answered: 1 week ago

Question

★★★★★

Research Fundament vs. Technical Analysis; which method suits your investment style the best

Answered: 1 week ago

Question

★★★★★

Problems 1.On 8.23.17, the night before the Powerball lottery results were announced, a man posted ( and then deleted) the following Tweet: "If I win, 10 people who RT this tweet will get $1,000,000...

Answered: 1 week ago

Question

★★★★★

Abigail has three children - Ben who is a toddler aged 2, Marie who is aged 8, and a 15 year old named Josh. Abigail lives in a deteriorating two bedroom apartment in a crime ridden part of town. She...

Answered: 1 week ago

Question

★★★★★

As part of its internal analysis, an HR manager at a consumer products firm is asked to prepare a forecast for the supply of product managers over the next year. Which of these techniques would...

Answered: 1 week ago

Question

★★★★★

Huntington Boards manufactures two models of surfboards, Basic and Competition, in a facility in Southern California. In fabrication, machine setup costs are driven by the number of setups, machine...

Answered: 1 week ago

Question

★★★★★

Mary Ann bought a new computer for $2,000 and financed the entire purchase price at a nominal rate of interest payable 12 times per year at 9% per annum. She repaid her loan in 4 years with 48 equal...

Answered: 1 week ago

Question

★★★★★

Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $5100 at 4% compounded quarterly for 6 years The present...

Answered: 1 week ago

Question

★★★★★

As water moves through the hydrologic cycle, water quality changes are common because of natural phenomena or anthropogenic pollution. Using Figure 11.1, describe how water-quality changes occur...

Answered: 1 week ago

Question

★★★★★

Whats the effect? Published reports about violence in computer games have become a concern to developers and distributors of these games. One firm commissioned a study of violent behavior in...

Answered: 1 week ago

Question

★★★★★

The extra point. The scatterplot shows five blue data points at the left. Not surprisingly, the correlation for these points is r = 0. Suppose one additional data point is added at one of the five...

Answered: 1 week ago

Question

★★★★★

IBM revenue. Revenue is the amount of money a company receives from its customers in exchange for the sale of goods or services and is the top line item on an income statement from which all costs,...

Answered: 1 week ago

Previous Question Next Question