[Solved] How much must you deposit in a bank accou

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 22, 2024

How much must you deposit in a bank account today to have $1000 at the end of 8 years if the bank quotes a rate

How much must you deposit in a bank account today to have $1000 at the end of 8 years if the bank quotes a rate of 1.25%, compounded daily? Assume a 365-day year. Group of answer choices $905 $360 $1,104 $125

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Applied Quantitative Finance

Authors: Härdle

3rd Edition

ISBN: 3662544857, 978-3662544853

More Books

Students also viewed these Finance questions

Question

★★★★★

Ornamental Iron Works began January with 45 units of iron inventory that cost $ 24 each. During January, the company completed the following inventory transactions: Requirements 1. Prepare a...

Answered: 1 week ago

Question

★★★★★

Pharmaceutical drugs have an inelastic demand, and computers have an elastic demand. Suppose that technological advance doubles the supply of both products (that is, the quantity supplied at each...

Answered: 1 week ago

Question

★★★★★

Which of the following is an application of shaping? a. A mother who wants her daughter to hit a baseball first praises her for holding a bat, then for swinging it, and then for hitting the ball. b....

Answered: 1 week ago

Question

★★★★★

Martial Arts R Us (MARU) needs a database. MARU is a martial arts school with hundreds of students. It is necessary to keep track of all the different classes that are being offered, who is assigned...

Answered: 1 week ago

Question

★★★★★

How much must you deposit in a bank account today to have $1000 at the end of 8 years if the bank quotes a rate of 1.25%, compounded daily? Assume a 365-day year. Group of answer choices $905 $360...

Answered: 1 week ago

Question

★★★★★

The return on the Rush Corporation in the state of recession is estimated to be -20% and the return on Rush in the state of boom is estimated to be 32%. The return on the Oberman Corporation in the...

Answered: 1 week ago

Question

★★★★★

What does the abbreviation 'Ab' stand for in the medical professions? What does the abbreviation 'Abd' stand for in nursing? What does the abbreviation 'ABG' stand for in the medical world? What does...

Answered: 1 week ago

Question

★★★★★

Question: What happens when the final keyword is applied to a method in Java? A) The method cannot be overridden by subclasses. B) The method can only be called once during the program's execution....

Answered: 1 week ago

Question

★★★★★

4. Describe the aims of the selection process and describe a methodical approach that can be used to achieve these aims.

Answered: 1 week ago

Question

★★★★★

suggest a range of work sample exercises and design them

Answered: 1 week ago

Question

★★★★★

1. Choose three different job advertisements from three different sources (one from an Internet recruitment site, one from a newspaper and one from an employers corporate website). Comment on the...

Answered: 1 week ago

Previous Question Next Question