Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 04, 2024

You have $5,436.60 in an account that pays 12.60% interest, compounded continuously. If you deposited some funds 12 years ago, how much was your original

You have $5,436.60 in an account that pays 12.60% interest, compounded continuously. If you deposited some funds 12 years ago, how much was your original deposit? Round your answer to the nearest dollar.

a. $1,474

b. $1,199

c. $2,164

d. $1,309

e. $4,793

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

Fundamentals Of Futures And Options Markets

Authors: Jonn C. Hull

8th International Edition

0133382850, 9780133382853

More Books

Students also viewed these Finance questions

Question

★★★★★

The daily demand of a product can be specified by a normal distribution. Its average daily demand is 250 units with a standard deviation of 40 units. The delivery lead time of this product is also...

Answered: 1 week ago

Question

★★★★★

1- Name six cost categories that are important in managing goods for sale in a any real industry or company of your choice. 2- What assumptions are made when using the simplest version of the...

Answered: 1 week ago

Question

★★★★★

11.7 In this exercise, we will look at planning in Shakey's world. a. Describe Shakey's six actions in situation calculus notation. b. Translate them into the STRIPS language. c. Either manually or...

Answered: 1 week ago

Question

★★★★★

Monti Company is a very profitable small business. It has not, however, given much consideration to internal control. For example, in an attempt to keep clerical and office expenses to a minimum, the...

Answered: 1 week ago

Question

★★★★★

You have $5,436.60 in an account that pays 12.60% interest, compounded continuously. If you deposited some funds 12 years ago, how much was your original deposit? Round your answer to the nearest...

Answered: 1 week ago

Question

★★★★★

The Grilton Tire Company manufactures racing tires for bicycles. Grilton sells tires for $50 each. Grilton is planning for next year by developing a master budget by quarters. Griltons balance sheet...

Answered: 1 week ago

Question

★★★★★

SAA Committee has implemented a program to recycle all plastic drink cups used during the Annual UCSI Book's fair. Their goal is to generate RM50, 000 by the end of the recycle program's 5 years...

Answered: 1 week ago

Question

★★★★★

The Evans Corporation finds that it is necessary to determine its marginal cost of capital. Evans' current capital structure calls for 30 percent debt, 10 percent preferred stock, and 60 percent...

Answered: 1 week ago

Question

★★★★★

Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Credit Debit $ 18,000 10,600 2,000 23,000 Number 101 126 128 167 160 301 302 403 612 622 637 640 652 $ 6,500...

Answered: 1 week ago

Question

★★★★★

Price Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $138,000. At that date, the fair value of Savers buildings and equipment was $24,000 more than the book...

Answered: 1 week ago

Question

★★★★★

piter 7 Group Work Exercise 7-10A Accounting for uncollectible accounts: percent of revenue allowance versus direct write-off metha Joey's Bike Shop sells new and used bicycle parts. Although a...

Answered: 1 week ago

Previous Question Next Question