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

Question

1 Approved Answer

Shane wants to invest money in a 6% CD account that compounds semiannually Shane would like the account to have a balance of $120.000 4

image text in transcribed
Shane wants to invest money in a 6% CD account that compounds semiannually Shane would like the account to have a balance of $120.000 4 years from now. How much must Shane deposit to accomplish his goal? Multiple Choice $94.729 $95,244 $101229 20.000

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

AS9101D Auditing For Process Performance Combining Conformance And Effectiveness To Meet Customer Satisfaction

AS9101D Auditing For Process Performance Combining Conformance And Effectiveness To Meet Customer Satisfaction

Authors: Chad Kymal

1st Edition

0873898079, 978-0873898072

More Books

Students also viewed these Accounting questions

Question

★★★★★
How would you design a structure and control system to encourage entrepreneurship in a large, established corporation?

Answered: 1 week ago

Question

★★★★★
CR5.16 In the article Reproductive Biology of the Aquatic Salamander Amphiuma tridactylum in Louisiana (Journal of Herpetology [1999]: 100105), 14 female salamanders were studied. Using regression,...

Answered: 1 week ago

Question

★★★★★
Kaj Rasmussen founded Scandi Home Furnishings as a corporation during mid-2007. Sales during the first full year (2008) of operation reached $1.3 million. Sales increased by 15 percent in 2009 and...

Answered: 1 week ago

Question

★★★★★
boxes outlined in blue require an answer Mansfield Information Systems (MIS) is an IT support firm. Managers and staff are billed to clients on an hourly basis. The senior administrative staff does...

Answered: 1 week ago

Question

★★★★★
3. A bond will pay off $100 with a probability of 99% and will pay off nothing with a probability of 1%. The equivalent risk-free rate of return is 5%. What is an appropriate promised yield on this...

Answered: 1 week ago

Question

★★★★★
sa Problema 1 A boy riding a bicycle can be modeled as a mass-spring-shock absorber system. The weight of the child is 80N, the constant of elasticity of the spring is 5000 N/m, and the damping...

Answered: 1 week ago

Question

★★★★★
Exercise 3.10 3.10 Use the Normal table. Use Table A to find the proportion of observations from a standard Normal distribution that satisfies each of the following statements. In each case, sketch a...

Answered: 1 week ago

Question

★★★★★
PROBLEM 6. (20 points) Assume a solution of boron and water. Density of water is 1.0 g/cm and the concentration of natural boron is 72g/cm. This solution is exposed to a source of thermal neutrons...

Answered: 1 week ago

Question

★★★★★
a) What is the cost per kg of oranges for each supplier? b) Which is the cheapest supplier and which is the most expensive supplier? c) List the priority in which you will purchase from each...

Answered: 1 week ago

Question

★★★★★
In a survey of 1050 U.S. adults, 588 said that chocolate was their favorite ice cream flavor. Construct a 95% CI for the population proportion of U.S. adults who say chocolate is their favorite ice...

Answered: 1 week ago

Question

★★★★★
1. To what extent do you agree with the criticisms of Stephen Elops memo to his staff?

Answered: 1 week ago

Question

★★★★★
define the term outplacement

Answered: 1 week ago

Question

★★★★★
describe the services that an outplacement consultancy may provide.

Answered: 1 week ago

Previous Question Next Question