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

Question

1 Approved Answer

An account paid an income of $15000 the first year, $20000 for the second year and $10000 for the next 5 years and the account

An account paid an income of $15000 the first year, $20000 for the second year and $10000 for the next 5 years and the account earned 6% interest.

a.what was the initial deposit into the account?

b.what is the accounts future value?

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

Financial Modeling

Financial Modeling

Authors: Simon Benninga, Tal Mofkadi

5th Edition

0262046423, 9780253337825

More Books

Students also viewed these Finance questions

Question

★★★★★
On December 30, 2015, Maud sold land to her son, Charles, for $50,000 cash and a 7% installment note for $350,000, payable over 10 years. Maud's cost of the land was $150,000. In October 2017, after...

Answered: 1 week ago

Question

★★★★★
Describe the roles of interests, curiosity, flow, emotions, and anxiety in motivation.

Answered: 1 week ago

Question

★★★★★
If a mutual funds net asset value is $23.40 and the fund sells its shares for $25, what is the load fee as a percentage of the net asset value?

Answered: 1 week ago

Question

★★★★★
Indicate in each situation if the outlay is capital equipment under the Medicare definition, minor equipment (M), or some other expense (O): Dental chair for $7,500 Multipurpose copier/fax/scanner...

Answered: 1 week ago

Question

★★★★★
Your probability class has 300 students and each student has probability 1/3 of getting an A, independent of any other student. Consider the random variable X, the total number of students get an A....

Answered: 1 week ago

Question

★★★★★
( a ) Explicitly state the wastes that you see in the U - profile in Part 3 . State if the process is balanced or not. Briefly discuss the effects of the wastes on production, revenue, and profit.

Answered: 1 week ago

Question

★★★★★
Referring to KMART Transaction Process, please help me to figure out these question - Based on your experience with the process, identify an improvement opportunity. Adjust your process model,...

Answered: 1 week ago

Question

★★★★★
In "The New Momism," Susan Douglas and Meredith Michaels chart a "set of ideals, norms, and practices" that have emerged and gained in strength since the 1980s. Propagated in large part by mainstream...

Answered: 1 week ago

Question

★★★★★
getBarbrood ustuprates of bloq mont triog rose heyro 11. Eliminate the parameter from the parametric equations - x(t)=t 1, y(t) = log(2t). (OS)=(S)

Answered: 1 week ago

Question

★★★★★
6. What resources are available to the front office manager? Rank the importance of these resources in providing service to guests and supervising employees. 7. How does the front office manager...

Answered: 1 week ago

Question

★★★★★
Explain key approaches to implementing LMD

Answered: 1 week ago

Question

★★★★★
Understand how LMD can be used with leaders and managers in small and medium-sized enterprises

Answered: 1 week ago

Question

★★★★★
Explain various models of leadership and management for development purposes

Answered: 1 week ago

Previous Question Next Question