FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Answer is wrong. need help I now have $23,000 in the bank earning interest of 0.50% per month. I need $33,000 to make a down

image text in transcribedAnswer is wrong. need help

I now have $23,000 in the bank earning interest of 0.50% per month. I need $33,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $33,000? (Do not round intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel.) Time required 294.00 months

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_2

Step: 3

blur-text-image_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

Biblical Finance Reflections On Money Wealth And Possessions
Biblical Finance Reflections On Money Wealth And Possessions

Authors: Mark Lloydbottom, Keith Tondeur

1st Edition

0956395023, 978-0956395023

More Books

Students explore these related Finance questions

Question

In reporting the results of their survey of a simple random sample of U.S. registered voters, pollsters claim 95% confidence that their sampling error is no more than 4 percentage points. Given this...

Answered: 3 weeks ago

Question

9. Explain the steps in distribution planning.

Answered: 3 weeks ago

Question

Let X be the largest outcome in the throws of two dice. In Example 4.8, we found that the probability function of X is given by (i) Write down the distribution function of X. (ii) Calculate the...

Answered: 3 weeks ago

Question

Detroit Central Hospital is trying to improve its image by providing a positive experience for its patients and their relatives. Part of the image program involves providing tasty, inviting patient...

Answered: 3 weeks ago

Question

Aunt Kitty sells her home for 1 5 0 , 0 0 0 which is then invested to earn 5 % annually. If her life expectancy is 1 0 years, what is the maximum amount she can annually spend on a nursing, doctor's...

Answered: 3 weeks ago

Question

10 Sachs Brands' defined benefit pension plan specifies annual retirement benefits equal to: 1.2% x service years x final year's salary, payable at the end of each year. Angela Davenport was hired by...

Answered: 3 weeks ago

Question

Lodrobe Company manufactures a single product: wardrobes. Lodrobe's wardrobes have a unique design that is not replicated by any other wardrobe manufacturer. The company was formed at the beginning...

Answered: 3 weeks ago

Question

Do a brief research on the following Act Language. Identify the contributions of those it in language development. Place the link/s at the very end or bottom. 1. Ministerial Memorandum No. 523,p....

Answered: 3 weeks ago

Question

A satellite is in circular orbit 525 km above the surface of Earth. Determine the satellite's speed A satellite is in circular orbit 525 km above the surface of Earth. Determine the satellite's speed

Answered: 3 weeks ago

Question

EXHIBITS Income Statement exhibits close all Income Statement CPA Bakers Inc., a calendar year S corporation, is a retailer of gourmet snacks located in Happyville, U.S. CPA Bakers' current year...

Answered: 3 weeks ago

Question

ces This problem is based on the transactions for the Eco Build Company in your text. Prepare journal entries for each transaction and identify the financial statement impact of each entry. The...

Answered: 3 weeks ago

Question

What is your opinion of Seaviews current benefits communication practices? Explain.

Answered: 3 weeks ago

Question

Why is it important to provide effective communication about employee benefits? Explain.

Answered: 3 weeks ago

Question

OUTCOME 1 Explain how human resources planning and a firms mission, vision, and values are integrally linked to its strategy.

Answered: 3 weeks ago

Previous Question Next Question