Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 10, 2024

Your brother, who is 6yo, just received a trust fund that will be worth 23,000 when he is 21 yo.If the fund earns 0.11 interest

Your brother, who is 6yo, just received a trust fund that will be worth 23,000 when he is 21 yo.If the fund earns 0.11 interest compounded annually, what is the value of the fund today?

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

Personal Finance Turning Money into Wealth

Authors: Arthur J. Keown

8th edition

134730364, 978-0134730363

More Books

Students also viewed these Finance questions

Question

★★★★★

Sketch a rough graph of the outdoor temperature as a function of time during a typical spring day.

Answered: 1 week ago

Question

★★★★★

Equipment acquired on January 8 at a cost of $212,000 has an estimated useful life of 15 years, has an estimated residual value of $14,000, and is depreciated by the straight-line method. a. What was...

Answered: 1 week ago

Question

★★★★★

Contrast contemporary forms of psychodynamic psychotherapy with Freuds original approach.

Answered: 1 week ago

Question

★★★★★

The following is a description of various factors that affected the operations of Lincoln Federal Savings and Loan, a California savings and loan (S&L). It was a subsidiary of American Continental...

Answered: 1 week ago

Question

★★★★★

i. You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in the account in 5 years? ii. Suppose you want to have $400,000 for retirement in 20 years. Your...

Answered: 1 week ago

Question

★★★★★

ave you witnessed the use of any of the 12 Principles of Agile in an organization? How have they been used? Which of the 12 Principles of Agile would you consider adopting in your organization and...

Answered: 1 week ago

Question

★★★★★

Let A={-5,-4,-3, -2, -1, 0, 1, 2, 3, 4, 54. For each of the following relations on A, determine if it is partial order or an equivalence relation (justify your answers). If the relation is partial...

Answered: 1 week ago

Question

★★★★★

1) Let us consider the following value of parameters to simulate the quadcopter motion in MATLAB while using the in-built command "ODE45" to solve the quadcopter equations of motion: g= 9.81m/s, m =...

Answered: 1 week ago

Question

★★★★★

Soraya is a software developer whose male co-workers frequently exclude her from meetings and withhold information she needs to do her job. They tell her she should "quit trying to be one of the...

Answered: 1 week ago

Question

★★★★★

Ted Crilly, the controller for Craggy Manufacturing Co, is in the process of analysing the overhead costs for the month of October. He has gathered the following data for the month. Labor Direct...

Answered: 1 week ago

Question

★★★★★

Linear Functions Fit to Data MC The table compares the average daily temperature and ice cream sales each day Temperature F Ice Cream Sales 112 58 2 64 2 64 3 66 8 68 4 71 6 72 7 76 2 77 8 82 8 135...

Answered: 1 week ago

Question

★★★★★

respond to this discussion post. what you agree with, what they did well on. I liked that the book mentioned it's easy for agencies to measure inputs and activities rather than outcomes, and I...

Answered: 1 week ago

Question

★★★★★

Dechow, Inc., issued $250,000 of 8%, 15-year bonds at 96 on July 1, 2005. Interest is payable semiannually on December 31 and June 30. Through June 30, 2010, Dechow amortized $3,000 of the bond...

Answered: 1 week ago

Question

★★★★★

Refer to the discussion of and excerpt from the Harley-I)avidson warranty reserve on page $8-9$ to answer the following questions. a. Using the financial statement effects template, record...

Answered: 1 week ago

Question

★★★★★

The following independent situations represent various types of liabilities. Analyze each situation and indicate which of the following is the proper accounting treatment for the company: (a) record...

Answered: 1 week ago

Previous Question Next Question