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

Question

1 Approved Answer

please answer 5. EncryptCo wants to have $300,000 for capital projects. The firm has $250,000 today. It will use this as a one- time payment

please answer

image text in transcribed
5. EncryptCo wants to have $300,000 for capital projects. The firm has $250,000 today. It will use this as a one- time payment into an account to reach its goal. If the interest rate is 3% nominal annual, compounded monthly over the duration of the project, how many years will it take EncryptCo to reach its goal? (4 marks)

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

OPEC Twenty Years And Beyond

OPEC Twenty Years And Beyond

Authors: Ragaei El Mallakh

1st Edition

1317244737, 9781317244738

More Books

Students also viewed these Economics questions

Question

★★★★★
Assume that we know the bottleneck link along the path from the server to the client is the first link with rate R, bits/sec. Suppose we send a pair of packets back to back from the server to the...

Answered: 1 week ago

Question

★★★★★
Critical Thinking Zane is interested in the proportion of people who recycle each of three distinct products: paper, plastic, electronics. He wants to test the hypothesis that the proportion of...

Answered: 1 week ago

Question

★★★★★
2. In Mr. Lawrences classroom, students are engaged in learning the art of driving. They watch Mr. Lawrence model techniques, receive hints and feedback from him on their performance, and are...

Answered: 1 week ago

Question

★★★★★
A golf club manufacturer is trying to determine how the price of a set of clubs affects the demand for clubs. The file P10_50.xlsx contains the price of a set of clubs and the monthly sales. a....

Answered: 1 week ago

Question

★★★★★
Assume that 10 years ago you purchased a $1,000 bond for $795. The bond pays 12.50 percent interest and will mature this year. Calculate the current yield on your bond investment at the time of...

Answered: 1 week ago

Question

★★★★★
Sgt. Barnes is a veteran police officer filing as Head of Household. Currently, her taxable income is $50,000, but has been asked to sit for the Leutenant's exam. She is excited about the opportunity...

Answered: 1 week ago

Question

★★★★★
The following information is available for Blossom Company: Beginning inventory 480 units at $5.00 First purchase 720 units at $6.00 Second purchase 400 units at $8.00 Assume that Blossom uses a...

Answered: 1 week ago

Question

★★★★★
Think of a scenario from media you have recently seen that portrayed a traditional sexual script such as courtship, first date, first sexual encounter, long-term relationship, etc. First, briefly...

Answered: 1 week ago

Question

★★★★★
1. What was net operating working capital for 2014 and 2015? 2. What was the 2015 free cash flow? 3. How would you explain the large increase in 2015 dividends? Powell Panther Corporation: Balance...

Answered: 1 week ago

Question

★★★★★
Lobers, Inc., has two investment proposals, which have the following characteristics: PROJECT A PROJECT B PROFIT NET CASH PROFIT NET CASH PERIOD COST AFTER TAXES FLOW COST AFTER TAXES FLOW 0 $9,000 -...

Answered: 1 week ago

Question

★★★★★
(20 points) The following data shows the total spend on Research and development by institutions of higher learning in the US, in billions of dollars for the period 2003 - 2011. Find the best fit...

Answered: 1 week ago

Question

★★★★★
Question 1 (13 pts) Read the following and use it to answer the following questions: James owns a factory that produces fuel from bio waste and sells the fuel to the agricultural industry. He holds a...

Answered: 1 week ago

Question

★★★★★
Early in August an undergraduate college discovers that it can accommodate a few extra students. Enrolling those additional students would provide a substantial increase in revenue without increasing...

Answered: 1 week ago

Question

★★★★★
Shirley Ferguson, an insurance broker, believes that for a particular contact the probability of making a sale is 0.4. If the random variable X is defined to take the value 1 if a sale is made and 0...

Answered: 1 week ago

Question

★★★★★
4.28 A factory manager is considering whether to replace a temperamental machine. A review of past records indicates the following probability distribution for the number of breakdowns of this...

Answered: 1 week ago

Previous Question Next Question