Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 17, 2024

Phillip Schlereth sends a cheque to their child, Idell, in the amount of $24,370.00 every month for 6 years how much is this investment worth

image text in transcribed

Phillip Schlereth sends a cheque to their child, Idell, in the amount of $24,370.00 every month for 6 years how much is this investment worth at the end of 6 years if payments begin today? Assume an interest rate of 7.00% a $1,437,747.02 b. $2,185,527.17 c. $116,838.17 d. $175,342.60

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_2

Step: 3

blur-text-image_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

Personal Finance

Authors: Thomas Garman, Raymond Forgue

12th edition

9781305176409, 1133595839, 1305176405, 978-1133595830

More Books

Students also viewed these Finance questions

Question

★★★★★

Which of the following credits may be used to offset the AMT? a. General business credit. b. Federal solar credit. c. Foreign tax credit. d. Qualified electric vehicle.

Answered: 1 week ago

Question

★★★★★

4. Explain what is meant by world trade. What is the role of the WTO and economic communities in encourag- ing free trade? What is protectionism? Explain import quotas, embargoes, and tariffs.

Answered: 1 week ago

Question

★★★★★

=+After the report in the example on page 776, the candy company makes some changes to the pouring process and thinks that the mean is now 18.15 oz. and the standard deviation is 0.08 oz. Using these

Answered: 1 week ago

Question

★★★★★

Among its other features, the MyTVLab website allows customers to purchase MyTVLab LifeStyles merchandise online. To handle payment processing, the management of MyTVLab has contracted with the...

Answered: 1 week ago

Question

★★★★★

Presented below is information relating to Havisham Co.s purchases of merchandise during the month of April. The company uses a periodic inventory system. 600 units were sold at $260 unit price...

Answered: 1 week ago

Question

★★★★★

In 2018, Lisa incurred the following employee business expenses: Meals $2,000 Lodging $4,000 Her employer reimburses her a total of $0 for all of these expenses under an accountable plan. Ignoring...

Answered: 1 week ago

Question

★★★★★

Choose one of the six macroeconomic debates covered in Chapter 23 of your textbook and take a stand for one side. Explain your position using at least two of the economic tools you've learned in...

Answered: 1 week ago

Question

★★★★★

A business survey randomly sampled 20 different hotels and 20 different log cabins in British Columbia and recorded each of their nightly rates. A natural log transformation was needed in order for...

Answered: 1 week ago

Question

★★★★★

Please help me evaluate this integral. 8 2 2 v - v

Answered: 1 week ago

Question

★★★★★

Your answer is partially correct. Culver Company expects to produce 1,392,000 units of Product XX in 2022. Monthly production is expected to range from 92,800 to 139,200 units. Budgeted variable...

Answered: 1 week ago

Question

★★★★★

Treating the county dataset as the population of US counties, create the dataframe my. SRS that samples from county and represents a simple random sample of n = 250 individual counties from all...

Answered: 1 week ago

Question

★★★★★

Th e person I wanted to complain about might have lost her job.

Answered: 1 week ago

Question

★★★★★

Th ey would have been rude to me.

Answered: 1 week ago

Question

★★★★★

Who knows? Th ey might have spit in my food in the kitchen.

Answered: 1 week ago

Previous Question Next Question