Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 10, 2024

You want to have $ 7 5 , 0 0 0 in 1 6 years to help your child attend college. If you can earn

You want to have $

75, 000

16

years to help your child attend college. If you can earn an annual interest rate of

3.7

percent, how much will you have to deposit today?$

40, 850

26, 262

43, 676

44, 290

41, 937

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 Retirees Complete Annuity Handbook

Authors: Scot Whiskeyman

1st Edition

8647470052, 979-8647470058

More Books

Students also viewed these Finance questions

Question

★★★★★

We can't drop our prices below $210 per hundred pounds,'' exclaimed Mark Thurau, manager of Forwarders, a division of Custom Freight Systems. Our margins are already razor thin. Our costs just won't...

Answered: 1 week ago

Question

★★★★★

An AM radio station broadcasts at 1010 kHz, and its FM partner broadcasts at 98.3 MHz. Calculate and compare the energy of the photons emitted by these two radio stations.

Answered: 1 week ago

Question

★★★★★

13.11 University Textbooks II Refer to Exercise 13.10. a. Use the values of SSR and Total SS to calculate R. Compare this value with the value given in the printout. b. Calculate R(adj). When would...

Answered: 1 week ago

Question

★★★★★

The following amounts summarize the financial position of Rodriguez Computing, Inc., on September 30, 2016: During October 2016, Rodriguez Computing completed these transactions: a. The business...

Answered: 1 week ago

Question

★★★★★

How communication can influence the decision making in a company? Explain in given format. Executive summary Introduction Uses Advantages Disadvantages Conclusion Recommendation Reference list

Answered: 1 week ago

Question

★★★★★

If using ABC, Toto Inc. calculates total overhead to be applied to Product X to be $3,000 while Sales of X was $9,900, Direct Materials for X was $3,000 and Direct Labor $2,000, what is the total...

Answered: 1 week ago

Question

★★★★★

The probability of event "A" is 50%. The probability of event "B" is 20%. "A" and "B" are two independent events. What is the probability of observing "A" and "B"?

Answered: 1 week ago

Question

★★★★★

Some statements are not considered hearsay because these statements are not being offered to prove the truth of the matter asserted in the statements. Thus, you must always ask yourself what is being...

Answered: 1 week ago

Question

★★★★★

21. Data: S0 = 100; X = 110; 1 + r = 1.1. The two possibilities for ST are 150 and 80. Calculate the value of a call option on the stock with an exercise price of 110. (Do not use continuous...

Answered: 1 week ago

Question

★★★★★

Car expenses using logbook and expense data Rory derives business income from a retail cosmetics store. On 1 October 2023, Rory bought a Mercedes for $38,340. Its effective life is eight years. Rory...

Answered: 1 week ago

Question

★★★★★

An analyst for Bloom Ltd, gathered the following information with regards to futures contract: Current spot-market price of R60 Risk-free interest rate of 8.87% per annum The six-month future...

Answered: 1 week ago

Question

★★★★★

Analyse in what circumstances these practices contribute to organisational effectiveness.

Answered: 1 week ago

Question

★★★★★

Assess the role of government and other agencies in initiating development in learning and training.

Answered: 1 week ago

Question

★★★★★

Explain a number of different approaches organisations take to learning and talent development. Understand the component parts of the learning cycle.

Answered: 1 week ago

Previous Question Next Question