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

Question

1 Approved Answer

Derek will deposit $4839.00 per year for 12 years into an account that earns 12.00%. Assuming the first deposit is 5.00 years from today, how

Derek will deposit $4839.00 per year for 12 years into an account that earns 12.00%. Assuming the first deposit is 5.00 years from today, how much will be in the account 36.00 years from today?
Please show inputs for financial calculator.
image text in transcribed
Derek will deposit $4,839.00 per year for 12.00 years into an account that earns 12.00%. Assuming the first deposit is made 5.00 years from today, how much will be in the account 36.00 years from today? Submit Answer format: Currency: Round to: 2 decimal places

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

Finance At The Threshold

Finance At The Threshold

Authors: Christopher Houghton Budd

1st Edition

0566092115, 978-0566092114

More Books

Students also viewed these Finance questions

Question

★★★★★
Indicate whether each statement below is a reflection of (a) Voluntary association, (b) A partnership agreement, (c) Limited life, (d) Mutual agency, or (e) Unlimited liability. 1. A partner may be...

Answered: 1 week ago

Question

★★★★★
A 1.42-g sample of a pure compound, with formula M 2 SO 4 , was dissolved in water and treated with an excess of aqueous calcium chloride, resulting in the precipitation of all the sulfate ions as...

Answered: 1 week ago

Question

★★★★★
What was the theory of hypnotism developed by the Nancy school, and why did Charcot consider the theory dangerous? Which approach prevailed?

Answered: 1 week ago

Question

★★★★★
The vapor pressure of an organic solvent is 50 mm Hg at 25C and 200 mm Hg at 45 C. The solvent is the only species in a closed flask at 35C and is present in both liquid and vapor states. The volume...

Answered: 1 week ago

Question

★★★★★
The difference between the present value of an ordinary annuity with payments of $100 per year at a 10% interest rate for 10 years and an annuity due with payments of $100 per year at a 10% interest...

Answered: 1 week ago

Question

★★★★★
Piper Rose Boutique has been approached by the community college to make special polo shirts for the faculty and staff. The college is willing to buy 4,000 polos with its own design for $6.00 each....

Answered: 1 week ago

Question

★★★★★
Ms. Marcy Van Horne's salary for 2021 is $126,000. Other Information: 1. Ms. Van Horne received a performance bonus of $25,000, one-half of which was paid in 2021, with the remaining one-half not due...

Answered: 1 week ago

Question

★★★★★
1.1 Cascade Peaks Construction: Bathroom Given the information in the scenario: i. Identify the non-conforming construction method ii. Briefly explain why the drawings do not conform to NCC's...

Answered: 1 week ago

Question

★★★★★
A rocket is launched from the ground and travels in a straight path. The angle of inclination of the rocket's path is 1.35 radians. (That is, the rocket's path and the ground form an angle measuring...

Answered: 1 week ago

Question

★★★★★
Suppose we have a uniform beam that is 60 centimetres long, and is simply supported at both ends. If the beam has a load of f(x) = 11 N/m applied to it, and has a flexural rigidity of 10,000 Nm,...

Answered: 1 week ago

Question

★★★★★
Crystal wants life insurance that will diversify her financial portfolio and build wealth. She is searching for a policy that uses an investment method that has the potential to grow at a maximum...

Answered: 1 week ago

Question

★★★★★
3 What are your expectations for paid time off from work? Do you expect to be paid for holidays like Independence Day and Thanksgiving? Are your feelings about religious holidays different from your...

Answered: 1 week ago

Question

★★★★★
2 Consider the cultural variations discussed in this chapter and in Chapter 3. How is the largely masculine, individualist culture of the United State reflected in American policies on and attitudes...

Answered: 1 week ago

Question

★★★★★
3 How can organizations ensure that telecommuting staffers are able to develop strong working relationships? How can they build face time into a virtual team?

Answered: 1 week ago

Previous Question Next Question