Homework Answers
We use the formula:
A=P(1+r/2)^2n
where
A=future value
P=present value
r=rate of interest
n=time period.
225700=P*(1+0.1/2)^(2*10)
P=225700/(1+0.1/2)^(2*10)
=225700*0.376889483
=$85063.96(Approx).
Add Answer to:
Sam Long anticipates he will need approximately $225,700 in 10 years to cover his 3-year-old daughter's...
Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's...
Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round Intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bil...
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)
sam long anticipates he will need approximately 225,400 in 13 years to cover his 3 year...
sam long anticipates he will need approximately 225,400 in 13
years to cover his 3 year okd daughters college bills for a 4 year
degree. how much would he have to invest today at an interest rate
of 6 percent compounded semiannually?
Sam Long anticipates he will need approximately $225,400 in 13 years to cover his 3-year-old daughter's colege bills for a 4-year degree. How much would he have to invest today at an interest rate of 6 percent compounded...
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter’s...
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter’s college bills for a 4-year degree. How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)
ne my work Sam Long anticipates he will need approximately $226,200 in 15 years to cover...
ne my work Sam Long anticipates he will need approximately $226,200 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,000 in 11 years to cover his 3-year-old daughter's colle...
Sam Long anticipates he will need approximately $227,000 in 11 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10 % compounded semiannually? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount Present value interest factor of $1 per period at i% for n periods, PVIIF(i.n). 80% 10.0% 8.5 % 0.9217 08495 078290 0.7350 07216 06650...
Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is...
Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 55. He believes he will need $410,000 to retire comfortably. To date, Earl has set aside no retirement money. Assume Earl gets 4% interest compounded semiannually. How much must Earl invest today to meet his $410,000 goal?(Do not round intermediate calculations. Round your answer to the nearest cent.)
A father is trying to save for his daughter's wedding in two years. (Long engagement!). He...
A father is trying to save for his daughter's wedding in two years. (Long engagement!). He thinks he can make the following contributions to an account: $14,275.00 today and $13,915.00 in one year. The father thinks he can earn 7.00 % in the market each of the next two years. If the wedding is expected to cost $58,985.00 two years from today,how much will he need to contribute at the time of the wedding to cover its cost? Answer Format:...
here's the solution for the problem but still not coming up with the answer. how to...
here's the solution for the problem but still not
coming up with the answer. how to calculate the problem on
calculator?
1. Sammy anticipates that he will need approximately $250,000 in 17 years to cover his 1- year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8% compounded monthly? 1113 69% = 5.82 1310 Solution: Sammy would need to invest $65,032.18 into the account today to make $250,000...
Paul Havlik promised his grandson Jamie that he would give him $7,300 5 years from today...
Paul Havlik promised his grandson Jamie that he would give him $7,300 5 years from today for graduating from high school. Assume money is worth 10% interest compounded semiannually. What is the present value of this $7,300? (Do not round intermediate calculations. Round your answer to the nearest cent.) Present value
Sam Long anticipates he will need approximately $226,600 in 13 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round Intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)
sam long anticipates he will need approximately 225,400 in 13
years to cover his 3 year okd daughters college bills for a 4 year
degree. how much would he have to invest today at an interest rate
of 6 percent compounded semiannually?
Sam Long anticipates he will need approximately $225,400 in 13 years to cover his 3-year-old daughter's colege bills for a 4-year degree. How much would he have to invest today at an interest rate of 6 percent compounded...
ne my work Sam Long anticipates he will need approximately $226,200 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount
Sam Long anticipates he will need approximately $227,000 in 11 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10 % compounded semiannually? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount Present value interest factor of $1 per period at i% for n periods, PVIIF(i.n). 80% 10.0% 8.5 % 0.9217 08495 078290 0.7350 07216 06650...
A father is trying to save for his daughter's wedding in two years. (Long engagement!). He thinks he can make the following contributions to an account: $14,275.00 today and $13,915.00 in one year. The father thinks he can earn 7.00 % in the market each of the next two years. If the wedding is expected to cost $58,985.00 two years from today,how much will he need to contribute at the time of the wedding to cover its cost? Answer Format:...
here's the solution for the problem but still not
coming up with the answer. how to calculate the problem on
calculator?
1. Sammy anticipates that he will need approximately $250,000 in 17 years to cover his 1- year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8% compounded monthly? 1113 69% = 5.82 1310 Solution: Sammy would need to invest $65,032.18 into the account today to make $250,000...
Paul Havlik promised his grandson Jamie that he would give him $7,300 5 years from today for graduating from high school. Assume money is worth 10% interest compounded semiannually. What is the present value of this $7,300? (Do not round intermediate calculations. Round your answer to the nearest cent.) Present value
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago