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

Question

00
1 Approved Answer

your grandmother invested one lump sum 17 years ago at 4.25% interest. Today, she gave you the proceeds of that investment which totaled %5539.92. How

your grandmother invested one lump sum 17 years ago at 4.25% interest. Today, she gave you the proceeds of that investment which totaled %5539.92. How much did your grandmother originally invest?

A. $2700.00

B. $22730.30

c. $2750.00

D. $2768.40

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

98. Disregarding the possibility of a February 29 birthday, suppose a randomly selected individual is equally likely to have been born on any one of the other 365 days. a. If ten people are randomly...

Answered: 1 week ago

Question

★★★★★
Match the check-writing policies for a small business described below to the following control activities: a. Authorization b. Recording transactions c. Documents and records d. Physical controls e....

Answered: 1 week ago

Question

★★★★★
Presupuesto anual de gastos generales de fabricacin 2014 Por por DLH Mensual Ministerio de salud real Total Produccin Aporte Presupuesto del Ministerio de Salud Costos para Cantidad Unidad Unidad...

Answered: 1 week ago

Question

★★★★★
The markets 1 year interest rate is 6% while the 2-year interest rate is 7%. a) Find the market expected interest rate for 1 year in 1 years time.

Answered: 1 week ago

Question

★★★★★
Demand for Surf World is Poisson with mean 2.5. If they happen to stock 5 copies, what is the expected number of customers who will want to purchase Surf World but will be unable to do so because the...

Answered: 1 week ago

Question

★★★★★
The figure below shows a resistor network. R 2 R3 R 1 WW RA + V The values of the components are as follows: . R1 = 2.65 0 . R2 = 5.09 0 . R3 = 7.28 0 . R4 = 8.83 0 . V= 7.92 Volts Fill in all the...

Answered: 1 week ago

Question

★★★★★
What is the first step you should take when preparing for a meeting to ensure it is valuable to all attendees? Use the editor to format your answer

Answered: 1 week ago

Question

★★★★★
a. A sample of 95 employees of Malindi Tyre Company were asked which means of transport they used t and the following data was obtained; Means of Transport Number of Employees Matatu 41 Personal Car...

Answered: 1 week ago

Question

★★★★★
What happens in Stage Four, the turning point? a. The individual or team gives up. b. The individual or team commits to move forward. c. The team doesn't have all the answers. d. All the above

Answered: 1 week ago

Previous Question Next Question