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

Question

1 Approved Answer

You will receive $2,223 in 2 years, $5,729 in 4 years and $14,213 in 8 years and immediately deposit theses deposits in an account with

image text in transcribed
You will receive $2,223 in 2 years, $5,729 in 4 years and $14,213 in 8 years and immediately deposit theses deposits in an account with an interest rate of 5.6 percent annually. What is the balance in the account immediately after the third cash flow is deposited? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below.)

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

Marketplace Lending Financial Analysis And The Future Of Credit Integration Profitability And Risk Management

Marketplace Lending Financial Analysis And The Future Of Credit Integration Profitability And Risk Management

Authors: Ioannis Akkizidis, Manuel Stagars

1st Edition

1119099161, 978-1119099161

More Books

Students also viewed these Finance questions

Question

★★★★★
Coastal Corporation has two classes of stock: common, $4 par value; and preferred, $5 par value. Requirements 1. Journalize Coastals issuance of 5,500 shares of common stock for $10 per share. 2....

Answered: 1 week ago

Question

★★★★★
List the various events during the trade life cycle for equity shares that are held as trading, along with the accounting entries to be recorded.

Answered: 1 week ago

Question

★★★★★
Dana Corporation, based in Toledo, Ohio, is a global manufacturer of highly engineered products that serve industrial, vehicle, construction, commercial, aerospace, and semiconductor markets. It...

Answered: 1 week ago

Question

★★★★★
Romulus plc signs a contract on the 1 st July, 2 0 1 9 , agreeing to build a bridge for Rome Ltd at a contract price of 4 0 million. Rome Ltd will be in control of the asset throughout the...

Answered: 1 week ago

Question

★★★★★
Help Save & Exit Submit Check my work Crossfire Company segments its business into two regions-East and West. The company prepared a contribution format segmented income statement as shown below:...

Answered: 1 week ago

Question

★★★★★
Prove that the more inelastic demand and supply conditions are in a foreign country, the greater the ability of a country that is large in world markets to impose an optimal tariff. Use this result...

Answered: 1 week ago

Question

★★★★★
For the circuit shown in Figure P32.38, what must the frequency \(f\) of the \(\mathrm{AC}\) source be in order for the amplitude \(V_{C}\) of the potential difference across the capacitor to equal...

Answered: 1 week ago

Question

★★★★★
Compute the point estimates b0 and b1. Exercises 610 refer to the following data set: x 25 13 16 19 29 19 16 30 y 40 20 33 30 50 37 34 37

Answered: 1 week ago

Question

★★★★★
Suppose a distributor faces an annual demand for a car horn for small cars that is normally distributed with a mean of 2300 items and a standard deviation of 300. The cost of placing an order is $150...

Answered: 1 week ago

Question

★★★★★
Air flows with negligible friction through a \(10-\mathrm{cm}\)-diameter duct at a rate of \(2.3 \mathrm{~kg} / \mathrm{s}\). The temperature and pressure at the inlet are \(T_{1}=450 \mathrm{~K}\)...

Answered: 1 week ago

Question

★★★★★
4. To what extent do you think measures of a countrys wellbeing should be included when comparing the performance of countries? Should there be something like the balanced scorecard, discussed in...

Answered: 1 week ago

Question

★★★★★
2. In your opinion do you think that measures of social performance should be considered when deciding managers pay? If so what measures should be used?

Answered: 1 week ago

Question

★★★★★
2. Obtain a copy of the safety policy for either your college or your workplace. a. Use this to identify the roles of various people in the organisation in relation to health and safety. b. Use the...

Answered: 1 week ago

Previous Question Next Question