Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 06, 2024

Sara wants to have $ 530,000 in her savings account when she retires. How much must she put in the account now, if the account

Sara wants to have $ 530,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $ 530,000 in 20 years time?

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

The Ontology And Function Of Money The Philosophical Fundamentals Of Monetary Institutions

Authors: Leonidas Zelmanovitz

1st Edition

0739195115,0739195123

More Books

Students also viewed these Finance questions

Question

★★★★★

Multiple Choice Questions: 1. Inflation will be least harmful if a. Interest rates are not adjusted accordingly when inflation occurs. b. Worker wages are set by long-term contracts. c. It is...

Answered: 1 week ago

Question

★★★★★

Alex Mackenzie provides us with a matrix that relates many management principles, terms, functions, and activities. Recall as many as you can from memory. Identify them as elements, continuous...

Answered: 1 week ago

Question

★★★★★

3. If you were in Dax Cowarts place, do you feel you would want to die? What would you have done if you were Cowarts caregivers and loved ones?

Answered: 1 week ago

Question

★★★★★

Beka Company owns equipment that cost $50,000 when purchased on January 1, 2007. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated...

Answered: 1 week ago

Question

★★★★★

Which of the following is not a financing activity?* Repayment of long-term debt Issuance of equity Investments in businesses Payment of dividends

Answered: 1 week ago

Question

★★★★★

1) For venture ZA, the beginning cash amounts for the months of October and November are $25,000 and $30,000 respectively. The total sales are $200,000 and $300,000 for the months of October and...

Answered: 1 week ago

Question

★★★★★

1. Which is the most abundant gas presented in the atmosphere?

Answered: 1 week ago

Question

★★★★★

1 which is the centre of the earth? 2. Which day is observed as the ozone day ?

Answered: 1 week ago

Question

★★★★★

1 Name the part of earth that comprises crust and upper part of mantle? 2. Name the layer of the atmosphere which enables the esay flow of aeroplanes ?

Answered: 1 week ago

Question

★★★★★

What are the factors behind the rising incidence of eating disorders in adolescents?

Answered: 1 week ago

Question

★★★★★

Kay and Dee Manufacturing (K+D) has three business lines: Repair and Overhead (R+O): Repair of truck transmissions. Manufacturing: manufacturing of custom truck transmission parts Chemical Treating:...

Answered: 1 week ago

Previous Question Next Question