Calculate how much your gift will be worth

Assignment Help Finance Basics
Reference no: EM132460362

Your parents gave you $3,000 for your 16th birthday. You want to deposit it in a CD account that is earning 5% annually. Calculate how much your gift will be worth when you graduate from college exactly six years from now using the following methods:

a. Long-hand formula (Do not round intermediate calculations. Round final answer to 2 decimal places.)

b. Reference table. (Round final answer to 2 decimal places.)

c. Financial calculator (Round your answer to 2 decimal places.)

Reference no: EM132460362

Questions Cloud

Why is gm worried about the ars exposure : Why is GM worried about the ARS exposure? What operational decisions could it have made or now made to manage this exposure?
Analyze the straight-line and double-declining-balance : Analyze the straight-line, double-declining-balance, and units-of-production amortization methods Spectacular Condo Corp. purchased exercise equipment
What is the continuously-compounded forward rate : What is the continuously-compounded forward rate for a loan to be made three years from now and paid back five years from now?
What is ramadhan almubarak berhads : What is Ramadhan AlMubarak Berhads' net investment outlay on this project?
Calculate how much your gift will be worth : Calculate how much your gift will be worth when you graduate from college exactly six years from now using the following methods:
Calculate what is the future value : If you plan to invest $7000 annually for 5 years and the discount rate is 10%.
Explain the capital budgeting process of any organization : 1) Payback period 2) Explain the Capital Budgeting process of any Organization
Calculate the proceeds from sale of old residence : Calculate the Proceeds from Sale of Old Residence best estimate is that during the first 10 years of the 30, Chapman probably paid about one-fourth
What is the character of the loss : What is the character of the loss? What additional information do we need to figure out how much is deductible?

Reviews

Write a Review

Finance Basics Questions & Answers

  How much will you have in 5 years

If the fund pays 6% annually, how much will you have in two years? How much will you have in 5 years if you make no further deposits?

  Georgia has a health insurance policy

Georgia has a health insurance policy that includes a deductible of $300 and a coinsurance of 20%. If her total bill is $4,000, how much will she required.

  What is the required rate of return in new issue

Flotation costs for this issue are expected to be 9%. What is the required rate of return in this new issue?

  Define the excise tax

If the government wants to raise tax revenue, which of the following items are good candidates for an excise tax? Why?

  Big impact on many companies

The recession had a big impact on many companies, but in a practical sense, what signs would a CFO look for to determine if his/her firm.

  When the genesis and sensible essential teams held their

when the genesis and sensible essential teams held their weekly meeting the time value of money and its applicability

  Calculate the sale price of bank bill d and bank bill

Matt plans to sell both bank bill D and bank bill E on 1 October 2018 and use the sale proceeds to purchase a car. Calculate sale price of bank bill D and bill

  What is michaels contingent consumption bundle

Michael lives on an island and owns a beach house worth $400,000. What is Michaels contingent consumption bundle if Michael does not purchase insurance

  Calculate the sharpe index for the portfolio

A portfolio has a return of 5% and a standard deviation of 10%. If the risk-free rate is 2%, calculate the Sharpe index for the portfolio.

  What is the price of a 10-year zero coupon bond paying 1000

what is the price of a 10-year zero coupon bond paying 1000 at maturity if the ytm isa. 5b. 10c.

  What is the equity multipler for the bank

If the bank has the NIM % that you calculated above, a PLL% of 0.50%, and a Burden % of 1.00%, what is the bank's operating ROA before tax.

  What is the effective rate on an 10000 installment loan

what is the effective rate on an 10000 installment loan with bi-monthly payments 1600 in interest for 2 years?i 16ii

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd