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

Can someone help me solve this problem? I plug into the formula and get $956.5, yet it says that I am incorrect. If your bank

Can someone help me solve this problem? I plug into the formula and get $956.5, yet it says that I am incorrect.

image text in transcribed

If your bank pays you 1.7% interest and you deposit $850 today, what will your balance be in 7 years? Answer: FV = 850 (1.017)^7 FV = 956.457322

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

Dynamics Of International Finance
Dynamics Of International Finance

Authors: Ruchi Mehrotra Joshi

1st Edition

1685078389, 978-1685078386

More Books

Students explore these related Finance questions

Question

Write a paper on Target Market (be sure to include demographics and psychographic analysis).Organization name is Target Dept Store. Paper should include an overview of demographics (age, income,...

Answered: 3 weeks ago

Question

Simplify the expression and write it with rational exponents. Assume that all variables are positive. (3x)2

Answered: 3 weeks ago

Question

=+Take ak = 12-k, and from Ck=174(w)2-k = 2w - 1 deduce sin t = [] cost sin t (1.40) k=1 by letting n - oo inside the integral above. Derive Vieta's formula 2 12 1/2+12 12+12+2 = =2 2 2

Answered: 3 weeks ago

Question

A spherical vessel used as a reactor for producing pharmaceuticals has a 5-mm-thick stainless steel wall (k = 17 W/m K) and an inner diameter of D j = 1.0 m. During production, the vessel is filled...

Answered: 3 weeks ago

Question

writa a java program meeting the following requirements Write a program in Java to read values for width, length and height of a box then calculate the volume and total surface area of this close...

Answered: 3 weeks ago

Question

PLZ HELP ASAP I AM ON AN HOUR TOME CRUNCH The following information has been provided for your client, Haley Incorporated: You have also been provided with the following additional information: 1....

Answered: 3 weeks ago

Question

1.) Explain what is meant by oppressive conduct. 2.) Discuss any two (2) remedies for oppression under s 233 of the Corporations Act 2001 3. What obligations do financial service providers have in...

Answered: 3 weeks ago

Question

1. What is the jury foreman? What is their responsibility? 2. How would you explain reasonable and probable grounds? 3. Who is not eligible to sit on a jury? What do you feel is the reason for this?...

Answered: 3 weeks ago

Question

1. A detector is placed on a screen onto which a bright red spot is observed. In calculation of the numerical aperture of the fiber, the diameter of the bright spot (W) and the distance of the...

Answered: 3 weeks ago

Question

1. What is revealed about human nature (from Genesis 1-2)? 2. What are the consequences of the fall for human nature (from Genesis 3)? 3. What is revealed about human purpose? What does it mean for...

Answered: 3 weeks ago

Question

When a 0.051M aqueous solution of a certain acid is prepared, the acid is 2.7% dissociated. Calculate the acid dissociation constant Ka of the acid. Round your answer to 2 significant digits.

Answered: 3 weeks ago

Question

(Appendices) UNCOLLECTIBLE ACCOUNT EXPENSE: CREDIT SALES METHOD. Gilmore Electronics had the following data for a recent year. LO3

Answered: 3 weeks ago

Question

(Appendices) PERIODICAND PERPETUAL INVENTORY SYSTEMS. A list of inventory-system characteristics is presented below. Match each characteristic with one of the following: (A) periodic inventory...

Answered: 3 weeks ago

Question

(Appendices) SALES, SALES RETURNS, AND SALES ALLOWANCES. The contractor sales department of a Builders Square store in suburban Chicago had the following salesrelated transactions on a recent day: a)...

Answered: 3 weeks ago

Previous Question Next Question