Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 10, 2023

Determine the amount accumulated to the nearest dollar when $37,000 is deported in a bank that pays at interest rate 7% Per annum for

Determine the amount accumulated to the nearest dollar when $37,000 is deported in a bank that pays at interest rate 7% Per annum for period of 5 years. Compounded annually.

Step by Step Solution

★★★★★

3.38 Rating (145 Votes )

There are 3 Steps involved in it

Step: 1

The detailed ... 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

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

Engineering Economic Analysis

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

9th Edition

978-0195168075, 9780195168075

More Books

Students also viewed these Mathematics questions

Question

★★★★★

A man has $5000 on deposit in a bank that pays 5% interest compounded annually. He wonders how much more advantageous it would be to transfer his funds to another bank whose dividend policy is 5%...

Answered: 1 week ago

Question

★★★★★

1. If you deposit $10,000 in a bank that pays 8% compounded quarterly, how much will be in your account after 6 years? 2. What is the present value of a security that will pay $5,000 in 10 years if...

Answered: 1 week ago

Question

★★★★★

Janice has $5,000 invested in a bank that pays 3.8% annually. How long will it take for her funds to triple?

Answered: 1 week ago

Question

★★★★★

Clara Hughes, who is pushing 5 0 , has medaled both in speedskating and road cycling ( and showing no signs of slowing down ) completed a training event where she biked 5 0 km east, stopped and rode...

Answered: 1 week ago

Question

★★★★★

The Digital Electronic Quotation System (DEQS) Corporation pays no cash dividends currently and is not expected to for the next 5 years. Its latest EPS was $10, all of which was reinvested in the...

Answered: 1 week ago

Question

★★★★★

Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $40,000 cash from the companys founders in exchange for common stock....

Answered: 1 week ago

Question

★★★★★

3. If you start to daydream, stand up from your desk and face away from your books, but dont leave. Then sit back down and study.

Answered: 1 week ago

Question

★★★★★

On July 1, 2010, Brower Industries Inc. issued $32,000,000 of 10-year, 12% bonds at an effective interest rate of 13%, receiving cash of $30,237,139. Interest on the bonds is payable semiannually on...

Answered: 1 week ago

Question

★★★★★

9. Discuss the strategic implications of the French Divisions expanding side business of deliveries. List at least two benefits of doing this and at least two negatives that could happen if this...

Answered: 1 week ago

Question

★★★★★

Three-Month Project NOTE! Templates needed Ampersand, Inc., is a small business that operates in Somerset, VT The company is located at 732 Appalachian Way, Somerset, VT 05363. Its federal Employer...

Answered: 1 week ago

Question

★★★★★

Exercise 13-11 The following items were gathered from Oriole Industries' general ledger: Sale of marketable securities Depreciation and amortization expense Payment of cash dividends Proceeds from...

Answered: 1 week ago

Question

★★★★★

On January 22, Ireland Corporation issued for cash 33,000 shares of no-par common stock at $35. On February 14, Ireland issued at par value 4,000 shares of preferred 7% stock, $50 par for cash. On...

Answered: 1 week ago

Question

★★★★★

Problem 3 Complete the following perpetual inventory form. Perpetual Inventory Total Product Name: Purchase Unit Size: Carried Forward: Date In Out 1/7 3 Balance 1/9 2 1/10 1 1/12 5 1 1/15 2

Answered: 1 week ago

Question

★★★★★

Assets Current assets Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Plant and equipment (net) Intangibles Total assets Liabilities and Stockholders'...

Answered: 1 week ago

Question

★★★★★

Please prepare a presentation (ppt) based on the following descriptions- upload here General requirements: Topic: Introduction and analysis of Knowledge Managementpractice of Nokia. The presentation...

Answered: 1 week ago

Question

★★★★★

Find 1.Ownership structure 2.Headquarters, 3.Music Content, 4 Music Content type producers, 5 Example of music, For HBO Max, Netflix, Prime Video each Ques 2 Please find 1.Ownership structure...

Answered: 1 week ago

Question

★★★★★

A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that...

Answered: 1 week ago

Question

★★★★★

Graph one period of each function. y = 4 cos x

Answered: 1 week ago

Question

★★★★★

Consider two mutually exclusive alternatives: If the MARR is 8%, which alternative should be selected? Year -$5000 -3000 +4000 2000 +4000 +2000 -$5000 +2000 +2000 +4000

Answered: 1 week ago

Question

★★★★★

Bob Johnson decided to purchase a new home. After looking at tracts of new homes, he decided .that a custom-built home was preferable. He hired an architect to prepare the drawings. In due time, the...

Answered: 1 week ago

Question

★★★★★

A student bought a $75 used guitar and agreed to pa: for it with a single $85 payment at the end of 6 months Assuming semiannual (every 6 months) compounding, what is the nominal annual interest...

Answered: 1 week ago

Question

★★★★★

=+b. Suppose you are told the selected review was submitted in Word format. What is the probability that the review was medium in length?

Answered: 1 week ago

Question

★★★★★

=+b. What is the probability that at least 1 of 25 points on a control chart signals a problem with a manufacturing process when in fact the process is running correctly?

Answered: 1 week ago

Question

★★★★★

=+a 5% detection rate for noncarriers. Suppose that the diagnostic test is applied independently to two different samples from the same randomly selected individual.

Answered: 1 week ago

Previous Question Next Question