Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 06, 2024

On 1 January 2017 you decide to create a scholarship fund which will pay $8,000 each year commencing 1 January 2023. If the effective annual

On 1 January 2017 you decide to create a scholarship fund which will pay $8,000 each year commencing 1 January 2023. If the effective annual interest rate is 4.3%, the amount required at 1 January 2017 to establish the scholarship is closest to: Select one: a. $144516 b. $150730 c. $186047 d. $239512

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

Outline the health belief model and explain how it is related to health behavior. Outline the health onion and explain how it is applied to understand illness prevention and health promotion.

Answered: 1 week ago

Question

★★★★★

In The Effect of Nozzle Design on the Stability and Performance of Turbulent Water Jets (Fire Safety Journal, Vol. 4, August 1981), C. Theobald describes an experiment in which a shape measurement...

Answered: 1 week ago

Question

★★★★★

Silven Industries, which manufactures and sells a highly successful line of summer lotions and insect repellents, has decided to diversify in order to stabilize sales throughout the year. A natural...

Answered: 1 week ago

Question

★★★★★

humis grandperents presented ther with a oih of $21,000 when she was 10 years old to be used for her college coucotion. Over the next 7 years, unti she furred 17 , humis parents had invested her the...

Answered: 1 week ago

Question

★★★★★

Charles had been drinking heavily and had an argument with his ex-girlfriend. He threatened to burn her house down. A short time later he set fire to some cardboard boxes on the porch, causing...

Answered: 1 week ago

Question

★★★★★

A company produces three products, Y1, Y2, and Y3 in the same process.The data below reflects average monthly results: Y1 Y2 Y3 Monthly output (kg) 40,000 20,000 20,000 Sales Value at split off...

Answered: 1 week ago

Question

★★★★★

By implementing the JIT system, a pull system technique will be used to ensure a smooth flow on the factory floor. JIT system implementation requires more than just the production floor; it also...

Answered: 1 week ago

Question

★★★★★

You will apply operations management ideas to real-world scenarios in this exercise. This course will allow you to start constructing an operation management strategy by writing a paper on a company...

Answered: 1 week ago

Question

★★★★★

X-Corp. uses first in first out for its process costing Materials are issued 100% when work order is created Beginning WIP: conversion costs 50% complete Ending WIP : conversion costs 30% complete...

Answered: 1 week ago

Previous Question Next Question