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

Question

1 Approved Answer

You set aside $5,888.00 when you were a teenager; the fund has now grown into $12,953.60. The average rate of investment for this fund is

image text in transcribed

You set aside $5,888.00 when you were a teenager; the fund has now grown into $12,953.60. The average rate of investment for this fund is 8.00%. How long ago did you set up this fund? Please round answers to two decimals. $2,628.00 invested for 15 years at a simple annual rate of 8.00%. How much more can you make on this investment if the interest rate had compounded annually

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_2

Step: 3

blur-text-image_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

Project Finance For Construction

Project Finance For Construction

Authors: Anthony Higham, Carl Bridge, Peter Farrell

1st Edition

1138941298, 978-1138941298

More Books

Students also viewed these Finance questions

Question

★★★★★
Four boxes are placed on a uniform 14-kg wooden plank which rests on two sawhorses. Knowing that the masses of boxes B and D are 4.5 kg and 45 kg, respectively, determine the range of values of the...

Answered: 1 week ago

Question

★★★★★
Depreciation by two methods Obj. 2 A Kubota tractor acquired on January 8 at a cost of $85,000 has an estimated useful life of 10 years. Assuming that it will have no residual value, determine the...

Answered: 1 week ago

Question

★★★★★
3. What might be the advantages to an animal of localizing functions to one hemisphere of the brain as opposed to distributing the functions over both hemispheres?

Answered: 1 week ago

Question

★★★★★
TKE Catering provides catering services to many different corporate clients. Although TKE bids most jobs, some jobs, particularly new ones, are negotiated on a cost-plus basis. Cost-plus means that...

Answered: 1 week ago

Question

★★★★★
Cost of Equity - CAPM R C Cola has a beta of 1 . 2 . The expected return on the overall market is 8 % and the current risk free rate is 5 . 5 0 % . Using CAPM, what is the expected return of the...

Answered: 1 week ago

Question

★★★★★
Q3. In December31, 2022 the accountant discovered the following information: Supplies purchased during the year and recorded as an assets were 20,000. As the Physical counting indicated that end of...

Answered: 1 week ago

Question

★★★★★
BiggerBetter Widgets Co. makes World-Class Widgets using a relatively simple process (see flow chart below) with the following parameters. Their factory works from 9 AM to 5 PM; all operations shut...

Answered: 1 week ago

Question

★★★★★
You invest $138 today. After 11 years will you have $229. What simple interest rate did you earn on your investment? Answer as a decimal. Round to the nearest ten thousandth.

Answered: 1 week ago

Question

★★★★★
2. (10 points) The curve is the intersection of the plane x = -1 and the cone z = x + y. Find the curvature of y at the point (-1,2,5). 22

Answered: 1 week ago

Question

★★★★★
[6] Question 4: [20 Marks] The signal x(t) has the Laplace transform X(s) = 14 s(s+4) 2 [6] (a) Find the LT of y(t) = x(21-3) [8] (b) Find the LT of y(1) = tex(1) (c) Find the LT of y(t) = 1...

Answered: 1 week ago

Question

★★★★★
1.Goodyear implemented the DRII/NFPA 1600 approach. What strategies can be utilized to make sure recovery starts quickly, perhaps even while the incident is ongoing? 2.Please explain how the five...

Answered: 1 week ago

Question

★★★★★
(Appendices) Identify the accounting items for which adjustments are made to the purchase price of goods acquired for resale when determining the cost of purchases. Assume that the firm uses the...

Answered: 1 week ago

Question

★★★★★
(Appendices) ERRORS IN ENDING INVENTORY. From time to time, business newspapers report that the management of a company has misstated its profits by knowingly establishing an incorrect amount for its...

Answered: 1 week ago

Question

★★★★★
(Appendices) DISCOUNT POLICY AND GROSS MARGIN. Compton Electronics sells Motorola cellular phones. During 19x8, Compton sold 1,000 units for $300 per unit. Each unit costs Compton $180. At present,...

Answered: 1 week ago

Previous Question Next Question