Annual interest rate of interest being earned be on the fund

Assignment Help Business Economics

Reference no: EM13736980

On January 1 2015, your savings account will be worth $259,000. Every month thereafter, you make a cash contribution of $767 to the account. If the fund is expected to be worth $410,000 on January 1, 2020 what will the annual interest rate of interest being earned be on the fund? (Please answer only using calculations, with equations stated, as I am not allowed a financial calculator on the exam).

Reference no: EM13736980

Questions Cloud

Job evaluation techniques compensation professionals : Explain the job evaluation process and the two types of job evaluation techniques compensation professionals employ.

Are sex appeals to target men : Are sex appeals to target men? Are sex appeals used to target women? Compare and contrast HOW sex appeals are used for each gender

Considering purchasing a savings bond : You are considering purchasing a savings bond that will pay $100 in five years. The market interest rate currently is 3% per year. What should you be willing to pay to purchase this bond today? Suppose the interest rate goes up next year, to 4% per y..

Explain what principal arguments of pharmaceutical companies : What are the principal arguments of pharmaceutical companies who oppose making exception to IPR laws for developing countries? What are the arguments by NGOs and others for a differential treatment?

Annual interest rate of interest being earned be on the fund : On January 1 2015, your savings account will be worth $259,000. Every month thereafter, you make a cash contribution of $767 to the account. If the fund is expected to be worth $410,000 on January 1, 2020 what will the annual interest rate of interes..

Explain how fortescues governance structure : Briefly explain how Fortescue's governance structure is organised. How does the board ensure that company owners are well informed about their operations? Provide one brief example.

Strategic management is critical for the success : Strategic management is critical for the success of an organization. The survival of a health care organization is determined by how well the organization is able to adapt to change. "Successful health care organizations have leaders who unders..

What is estimated exclusioin and rivalness : What is estimated exclusioin and rivalness of (1) 1000 pounds of compacted scrap steel; (2) 1/2 ton of compacted scrap steel; (3) a mahogany tree in an inaccessible Central American rain forest; (4) a mahogany tree next to a new highway through a Cen..

Resistance to talent management : Strategy-driven talent management is considered the most effective way to acquire and maintain top talent. Develop three possible ways that senior leadership might resist the development of a strategy and one way to combat each of these types of r..

User Account

All Pages