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

Question

1 Approved Answer

Your boss at work just gave you a $500bonus for being an excellent employee.TheMcCormackeffectis real, gang. You want to put this money to work for

Your boss at work just gave you a $500bonus for being an excellent employee.TheMcCormackeffectis real, gang.

You want to put this money to work for you, so you invest it in an index fund with Vanguard that is projected to earn about 8% per year on average. Assuming that rate of return holds steady, what will you have in a decade? Round to the nearest dollar.

A.$500

B.$1079

C.$232

D.$540

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

Personal Finance

Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes

11th edition

9781259278617, 77861647, 1259278611, 978-0077861643

More Books

Students also viewed these Finance questions

Question

★★★★★
Blue Skies T-shirt Company operates a chain of T-shirt shops in the northeastern United States. The sales manager has provided a sales forecast for the coming year, along with the following...

Answered: 1 week ago

Question

★★★★★
A phenylalanine amino acid on a protein strand undergoes hydrophobic interactions with another phenylalanine amino acid that is 26 amino acid units away. The resulting fold in the protein is an...

Answered: 1 week ago

Question

★★★★★
Describe four common misunderstandings of Gestalt psychology.

Answered: 1 week ago

Question

★★★★★
In 2016 the Better Business Bureau settled 80% of complaints they received in the United States. Suppose you have been hired by the Better Business Bureau to investigate the complaints they received...

Answered: 1 week ago

Question

★★★★★
Question 6 (11 marks) The following information relates to Sonata Ltd. (a) At the beginning of the accounting period the company has a salary payable liability of $300 and at the reporting date a...

Answered: 1 week ago

Question

★★★★★
Blossom Company sells office equipment on July 31,2022 , for $23,730 cash. The office equipment originally cost $79,700 and as of January 1, 2022, had accumulated depreciation of $36,130....

Answered: 1 week ago

Question

★★★★★
Please solve COMPANY NAME: HONDA Brief introduction to company and its product Presentation of global inputs for the product Company's motivations for supplier selection and sourcing the inputs...

Answered: 1 week ago

Question

★★★★★
1.Now imagine that, with the introduction of money, financial institutions are put in place. Briefly , would the establishment and development of a financial sector help promote economic growth or...

Answered: 1 week ago

Question

★★★★★
Contrary to the strategy of maintaining a large inventory adopted by most American retailers, 7-11 is more selective in the products that they put on shelves. 7-11 chooses to shelve products that are...

Answered: 1 week ago

Question

★★★★★
AApproximate air as a mixture of 7 8 % Nitrogen and 2 2 % oxygen ( by moles ) . Calculate the followings for air using values you find in ( A . 5 ) . Be careful about units. ( a ) Specific gas...

Answered: 1 week ago

Question

★★★★★
(7) (2 pts) Location update is an important task to perform as a mobile unit moves around in a mobile IP network. If we use indirect-routing, new location update only needs to be done at the home...

Answered: 1 week ago

Question

★★★★★
Rover Company sells gourmet chicken feet at $700 each, incurs variable cost per unit of $300, and has a total fixed expense of $50,000. How many units must be sold to achieve a target operating...

Answered: 1 week ago

Question

★★★★★
Contact your state office of emergency management, and ask them if your state has any active recovery operations related to presidentially declared disasters. Find out how much money was granted...

Answered: 1 week ago

Question

★★★★★
Name some examples of policy areas and tools that should be considered by decision makers as they develop their recovery plan. Explain why each should be considered.

Answered: 1 week ago

Question

★★★★★
Visit the NVOAD website, and find out what organizations are members of your state VOAD ( http://www.nvoad.org/membersdb.php?members=state ).

Answered: 1 week ago

Previous Question Next Question