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

Question

1 Approved Answer

Kim invested a sum of money 4 yr ago in a savings account that has since paid interest at the rate of 7% /year compounded

Kim invested a sum of money4yr ago in a savings account that has since paid interest at the rate of7%/year compounded monthly. Her investment is now worth$19,830.81. How much did she originally invest? (Round your answer to the nearest cent.)

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

Managerial Accounting for the Hospitality Industry

Managerial Accounting for the Hospitality Industry

Authors: Lea R. Dopson, David K. Hayes

2nd edition

ISBN: 978-1-119-2996, 1119299659, 978-1119386223

More Books

Students also viewed these Accounting questions

Question

★★★★★
A straight tunnel is dug through the earth as shown in Figure. Assume that the walls of the tunnel are frictionless. (a) The gravitational force exerted by the earth on a particle of mass m at a...

Answered: 1 week ago

Question

★★★★★
The following trial balance has been extracted from the accounting records of Walrus plc as at 31 March 2023: The following information is also available: 1. Non-depreciable land was valued at...

Answered: 1 week ago

Question

★★★★★
=+b) If you identified a seasonal component, what is the period?

Answered: 1 week ago

Question

★★★★★
Suppose that the court concludes that the statute applies only to skiing and does not apply to snow tubing. Will Alainas lawsuit be successful? Explain. Alaina Sweeney went to Ragged Mountain Ski...

Answered: 1 week ago

Question

★★★★★
Was looking for help on the steps I need to do in order to do these This lab focuses on gathering information about the CPU used in the Raspberry Pi. Use the following commands in the Linux Terminal...

Answered: 1 week ago

Question

★★★★★
The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1. Cash balance according to the company's records at August 31, $20,014. 2. Cash...

Answered: 1 week ago

Question

★★★★★
Suppose that Viacom and QVC made tender offers to the Paramount shareholders, rather than offering a merger. On March 1 , 1 , Viacom offered to pay $ 7 5 7 5 per Paramount share. On March 5 , 5 , QVC...

Answered: 1 week ago

Question

★★★★★
A plant makes monthly shipments of electric drills to a wholesaler in average lot sizes of 280 drills. The wholesaler's average demand is 70 drills a week, and the lead time from the plant is 3...

Answered: 1 week ago

Question

★★★★★
Paco, Inc. is considering obtaining funding through advances against receivables. The total annual credit sales are $1,200,000, the terms are net/30 days, and the payment is made on the average of 30...

Answered: 1 week ago

Question

★★★★★
Question 6: Given the data below, what is the simple linear regression model that can be used to predict sales in future weeks? You have the following regression equation: Yt = 143.5 + 6.3x

Answered: 1 week ago

Question

★★★★★
1. What is P(A=a2,B=b2) P(A=a2,B=b2)? 2. Observing events from this probability distribution, what is the probability of seeing (a1, b1) then (a2, b2)? 3. Calculate the marginal probability...

Answered: 1 week ago

Question

★★★★★
Question 36 At the beginning of current year, CFAS Company issued 50,000 shares of P10 par value for P108 per share. During the year, the entity reacquired 2,000 shares at P150 per share and...

Answered: 1 week ago

Question

★★★★★
4. Present multiple themes at once. Then you will get to know a little about how others think, when some of the themes are rejected.

Answered: 1 week ago

Question

★★★★★
5. Get a third party to mediate, so that both parties have the opportunity to go back to their original negotiating point that they had before the third party put forward his/her proposal.

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) What we seek to achieve is different from why we seek to achieve it. b) Thoughts are different from what we are thinking about. c) Writing to find out what one...

Answered: 1 week ago

Previous QuestionNext Question