Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Feb 22, 2024

Find the Future Value in 24 years of $8443 to be invested today if you can earn a rate of return of 7.32%. (round to

Find the Future Value in 24 years of $8443 to be invested today if you can earn a rate of return of 7.32%. (round to the nearest cent)

Step by Step Solution

★★★★★

3.38 Rating (145 Votes )

There are 3 Steps involved in it

Step: 1

The future value of 8443 invested toda... 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 Financial Planning

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

13th edition

1111971633, 978-1111971632

More Books

Students also viewed these Finance questions

Question

★★★★★

Find the FV of $1,000 invested to earn 10% after 6 years. Round your answer to the nearest cent. $ fill in the blank 2 b. What is the investment's FV at rates of 0%, 6%, and 20% after 0, 1, 2, 3, 4,...

Answered: 1 week ago

Question

★★★★★

You have just invested $10,000 in a Certificate of Deposit (CD). You will earn a rate of 4% annually. The CD has a duration (time invested) of 3 years. What amount will you have at the end of the...

Answered: 1 week ago

Question

★★★★★

Use future or present value techniques to solve the following problems. a. Starting with $15,000, how much will you have in 10 years if you can earn 6 percent on your money? If you can earn only 4...

Answered: 1 week ago

Question

★★★★★

Exporting files into binary files is done in O Logical files O Physical backup O Physical full backup O Physical partial backup L

Answered: 1 week ago

Question

★★★★★

1. What role does innovation play in managing an organization's operations? 2. Describe the operations management issues that the Dreamliner team faced. Could these issues have been avoided? Why or...

Answered: 1 week ago

Question

★★★★★

A psychologist wants to test the hypothesis that college women will do better on a particular type of problemsolving task than will college men. He obtains the following results: a. Test the null...

Answered: 1 week ago

Question

★★★★★

Describe positive and negative influences of technology on the learning and development of children and adolescents.

Answered: 1 week ago

Question

★★★★★

What promotion blend would be most appropriate for producers of the following established products? Assume average- to large-sized firms in each case and support your answer. a. Chocolate candy bars....

Answered: 1 week ago

Question

★★★★★

Mississippi Life, Accident & Health or Sickness Producer - Richard M Sc: Calculatar Which of the following statements about a five year - old Whole Life policy is CORRECT? A . If a policyowner stops...

Answered: 1 week ago

Question

★★★★★

Maxie Company is creating their budget for the following year. Here is their relevant information: Expected Sales 1,000 units per month Sales Price $15 per unit Variable Labor costs $3 per unit...

Answered: 1 week ago

Question

★★★★★

Mr. Jones is contemplating retirement. He has just celebrated his 55th birthday and his net worth is $2 million. He hopes that after retirement he can maintain a lifestyle that costs him $100,000 per...

Answered: 1 week ago

Question

★★★★★

5. A manager of a Merchandising firm wishes to test whether its three salesmen X, Y and Z tend to make sales of the same size or whether they differ in their selling abilities. During a week there...

Answered: 1 week ago

Question

★★★★★

What is one way a professional running a lineup can make the procedure suggestible to an eyewitness? A) encouraging the witness when they identify the suspect B) remaining silent when witnesses make...

Answered: 1 week ago

Question

★★★★★

Suppose that 3000 drivers in Wakanda were randomly breath-tested on 21 April 2019 and 116 were above the limit of 0.05 blood-alcohol level. On 15 May 2019, 4000 drivers were tested and 98 were above...

Answered: 1 week ago

Question

★★★★★

Which of the following is an appropriate guideline for waste disposal? O a. Clean trash cans regularly to remove drips and crumbs that provide food for pests Ob. Do not use plastic liners in trash...

Answered: 1 week ago

Question

★★★★★

Required information Use the followlng Information for the Qulck Study below. (Algo) [The following information applies to the questions displayed below.] Aces incorporated, a manufacturer of tennis...

Answered: 1 week ago

Question

★★★★★

Bonus shares can be issued out of revenue reserves. True/False?

Answered: 1 week ago

Question

★★★★★

Discuss the role of financial responsibility laws and describe the two basic types currently employed.

Answered: 1 week ago

Question

★★★★★

Briefly describe the basic operations ofand the products and services offered byeach of the following financial institutions (a) Commercial bank (b) Savings and loan association (c) Savings bank (d)...

Answered: 1 week ago

Question

★★★★★

1. After taking into account the income that Sophia will receive from Social Security and her company sponsored pension plan, the financial planner has estimated that her investment assets will need...

Answered: 1 week ago

Question

★★★★★

Business Week recently reported that L. G. Philips LCD Co. would complete a new factory in Paju, South Korea. It will be the worlds largest maker of liquid-crystal display panels. The arrival of the...

Answered: 1 week ago

Question

★★★★★

The following table exhibits base salary data obtained from a survey of over 170 benchmark positions, including finance positions. It reports the salaries of a sample of 25 chief finance officers for...

Answered: 1 week ago

Question

★★★★★

Suppose a random sample of 137 households in Detroit was taken as part of a study on annual household spending for food at home. The sample data are contained in the file Detroit Eats. a. For the...

Answered: 1 week ago

Previous Question Next Question