Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 26, 2024

When Lauren was born 2 2 years ago, her mom opened a savings account for Lauren. The account has an interest rate of 4 %

When Lauren was born

22

years ago, her mom opened a savings account for Lauren. The account has an interest rate of

4 % .

Today, the account is worth $

8, 000 .

Assume no new money was added to the account. How much did Lauren's mom deposit in the account when it was opened?

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

Quantitative Financial Analytics The Path To Investment Profits

Authors: Edward E Williams, John A Dobelman

1st Edition

9813224258, 978-9813224254

More Books

Students also viewed these Finance questions

Question

★★★★★

After looking at the projections of the HomeNet project, you decide that they are not realistic. It is unlikely that sales will be constant over the four-year life of the project. Furthermore, other...

Answered: 1 week ago

Question

★★★★★

There is a project in SleepLand that an American-based company would like to invest in. The project would require SSS718,000 as initial investment. It is also estimated to generate cash inflows equal...

Answered: 1 week ago

Question

★★★★★

3. Utilizing one of the internet resources listed in this chapter, find a current job opening that requires a bachelors degree in psychology. a. What is the position? b. Where is it located? c. What...

Answered: 1 week ago

Question

★★★★★

What is the difference between the conventional test data approach and the integrated test facility approach?

Answered: 1 week ago

Question

★★★★★

Write a program that reads Mathematics and Physics test marks of 10 (ten) student and stores it to a 2-dimensional (2-D) array named studentmark2. Then, determine the followings: i) Average marks of...

Answered: 1 week ago

Question

★★★★★

Alex Dunphy is an intern of financial analysts at the Bank of MF. She is calculating the Earnings Per Share of Imaginary Company in 2020. She notices the company never issued any dilutive financial...

Answered: 1 week ago

Question

★★★★★

Hunter is a new federal borough of investigation agent who is assigned to Las Vegas. He owns a midnight sedan insured by a personal auto policy. The FBI will not provide Hunter with a car so he will...

Answered: 1 week ago

Question

★★★★★

Research Paper Outline Introduction 1)Non-Compete Agreements- define what is a non compete agreement, history, and why they were created 2) When are these agreements enforceable i.e. definition and...

Answered: 1 week ago

Question

★★★★★

You are managing a medium size construction company suffering from employee absence , staff turnover and low productivity. You want to train you divisional managers to influence their teams to...

Answered: 1 week ago

Question

★★★★★

Choose a product and discuss its full lifecycle (Steps 1-5). Indicate where it is in the life cycle currently. When do you predict the life cycle will end? Why do you think it will end?

Answered: 1 week ago

Question

★★★★★

A) she been presented with the option to take a lump sum payment of $ 750,000 today or payment in the amount $75,000 over next ten years. Assume 3% interest rate. which preferred option based the...

Answered: 1 week ago

Question

★★★★★

=+beliefs about the brand, product, or service?

Answered: 1 week ago

Question

★★★★★

=+3. Did you develop an on-target message, one that speaks directly to that particular target audience in a relevant and authentic way?

Answered: 1 week ago

Question

★★★★★

=+4. Did your message properly reflect the brand's image?

Answered: 1 week ago

Previous Question Next Question