Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 28, 2024

everal years ago you put $8,000 into a term deposit that pays 3% compounded quarterly. How many YEARS would it take to grow to $9,571.31?

Step by Step Solution

★★★★★

3.38 Rating (148 Votes )

There are 3 Steps involved in it

Step: 1

To find out how many years it would take for your initial deposit of 8000 to grow to 957131 with an ... 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

Personal Finance

Authors: Thomas Garman, Raymond Forgue

12th edition

9781305176409, 1133595839, 1305176405, 978-1133595830

More Books

Students also viewed these Finance questions

Question

★★★★★

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...

Answered: 1 week ago

Question

★★★★★

1. Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $43,800 from his initial salary of $42,000. What was Joshuas raise stated as a percentage? Inflation...

Answered: 1 week ago

Question

★★★★★

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★

Show that the ratio of the angular speeds of a pair of coupled gear wheels is in the inverse ratio of their respective radii.

Answered: 1 week ago

Question

★★★★★

What is the ideal-work rate for the expansion process of Ex. 7.6? What is the thermo-dynamic efficiency of the process? What is the rate of entropy generation SG? What is Wlost? Take T = 300 K.

Answered: 1 week ago

Question

★★★★★

=+1 What factors might make US HRM models increasingly influential for European HR managers?

Answered: 1 week ago

Question

★★★★★

Describe key developments in the theory of organic evolution prior to Darwin.

Answered: 1 week ago

Question

★★★★★

Alpha Sounds Corp., an electric guitar retailer, was organized by Michele Kirby, Paul Glenn, and Gretchen Northway. The charter authorized 1,000,000 shares of common stock with a par of $1. The...

Answered: 1 week ago

Question

★★★★★

Question 2 A system using the Stop - and - Wait ARQ protocol has the following characteristics: Distance between sender and receiver: 5 0 0 0 m Propagation speed: 2 1 0 8 m s - 1 Data rate: 1 0 M b p...

Answered: 1 week ago

Question

★★★★★

Assignment You may have to use Scilab/Matlab/Python for computation wherever necessary. Each student should make a choice of one of the above software, and stick to that throughout the assignment....

Answered: 1 week ago

Question

★★★★★

help!! it's economics, i have two choose two subcommittees (you can pick) and basically answer all the bullet points Create a PowerPoint or multimedia presentation to your constituents highlights of...

Answered: 1 week ago

Question

★★★★★

A company named Contoso, Ltd. is migrating its legacy PBX system to Microsoft Teams Phone. As a Microsoft Teams administrator you want a single provider for Teams Phone and the PSTN carrier. What...

Answered: 1 week ago

Question

★★★★★

1.) On May 22, 2010, Nicanor bought house and lot valued at Php 10,000,000 paying 20% down-payment with the balance payable in 10 years. On September 30, 2019, Nicanor died. The fair market value at...

Answered: 1 week ago

Question

★★★★★

Tasks: 1. Using the above provided IP address and your learnings from class, configure the topology. 2. Please retain the interface names and IP addresses for network namespaces as shown in topology....

Answered: 1 week ago

Question

★★★★★

For a picnic, Julie brings a cylindrical cooler jug filled with cold lemonade. She also brings paper cone cups in which to serve the lemonade. 30 cm 50 cm 6 cm 10 cm Given the dimensions of the jug...

Answered: 1 week ago

Question

★★★★★

1 . 1 . From the RedPharm data, determine: a . . The average number of customer arrivals for each hour Time Block Average per Time Block 7:00-8:00 11.87 8:00-9:00 11.96 9:00-10:00 12.27 10:00-11:00...

Answered: 1 week ago

Question

★★★★★

Your fixed income arbitrage hedge fund has $100 in capital. Assume that you observe the following U.S. treasury bonds today (both bonds just paid their last coupon payment yesterday) Briefly explain...

Answered: 1 week ago

Question

★★★★★

What is beacon marketing? What are digital wallets?

Answered: 1 week ago

Question

★★★★★

1. Distinguish between pure risk and speculative risk. 2. Explain the distinctions between risk and odds. 3. Distinguish among the five common risk exposures that most people face. 4. Describe the...

Answered: 1 week ago

Question

★★★★★

1. Distinguish between installment credit and open-ended credit. 2. Explain the basic features of revolving credit. 3. Describe how someone might use a personal line of credit.

Answered: 1 week ago

Question

★★★★★

Now that you have read the chapter on estate planning, what do you recommend to Juliana and Fernando on the subject of retirement and estate planning regarding? 1. How much in Social Security...

Answered: 1 week ago

Question

★★★★★

If the C$ strengthens by 0.0021 from the value in Table 3.2, what will be the new value of C$ per 1.00?

Answered: 1 week ago

Question

★★★★★

Statistics Canada calculates separate subindexes of the CPI for goods and for services. The goods index rose from 96.8 to 112.0 over a 10-year period. During the same period, the services index rose...

Answered: 1 week ago

Question

★★★★★

We want to compare the increase in value of the stock portfolio represented by the S&P/TSX Composite Index during the 18-year period described in Problem 14 to the general increase in prices of goods...

Answered: 1 week ago

Previous Question Next Question