User Account

All Pages

Compound interest table compound interest

Assignment Help Finance Basics
Reference no: EM133122630

John Whitten is one of the physicians on staff at Metropolis Health System. His practice is six years old. He has set up an office savings account to accumulate the funds to replace equipment in his practice. Today John is trying to figure what his equipment fund will amount to in four more years.

The equipment fund savings account presently has a balance of $63,500 and any interest earned over the next four years will be left in the account. John assumes the annual interest rate will be 5%. How much money will be in the account at the end of four more years?

Required

1. Compute how much money will be in the account at the end of four more years. (Use the compound interest table appearing in Appendix 13-B.)

APPENDIX 13-B: Compound Interest Table Compound Interest of $1.00 (The Future Amount of $1.00)

© LFor/Shutterstock

Year

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

1

1.010

1.020

1.030

1.040

1.050

1.060

1.070

1.080

1.090

1.100

2

1.020

1.040

1.061

1.082

1.102

1.124

1.145

1.166

1.188

1.210

3

1.030

1.061

1.093

1.125

1.156

1.191

1.225

1.260

1.295

1.331

4

1.041

1.082

1.126

1.170

1.216

1.262

1.311

1.360

1.412

1.464

5

1.051

1.104

1.159

1.217

1.276

1.338

1.403

1.469

1.539

1.611

6

1.062

1.120

1.194

1.265

1.340

1.419

1.501

1.587

1.677

1.772

7

1.072

1.149

1.230

1.316

1.407

1.504

1.606

1.714

1.828

1.949

8

1.083

1.172

1.267

1.369

1.477

1.594

1.718

1.851

1.993

2.144

9

1.094

1.195

1.305

1.423

1.551

1.689

1.838

1.999

2.172

2.358

10

1.105

1.219

1.344

1.480

1.629

1.791

1.967

2.159

2.367

2.594

11

1.116

1.243

1.384

1.539

1.710

1.898

2.105

2.332

2.580

2.853

12

1.127

1.268

1.426

1.601

1.796

2.012

2.252

2.518

2.813

3.138

13

1.138

1.294

1.469

1.665

1.886

2.133

2.410

2.720

3.066

3.452

14

1.149

1.319

1.513

1.732

1.980

2.261

2.579

2.937

3.342

3.797

15

1.161

1.346

1.558

1.801

2.079

2.397

2.759

3.172

3.642

4.177

16

1.173

1.373

1.605

1.873

2.183

2.540

2.952

3.426

3.970

4.595

17

1.184

1.400

1.653

1.948

2.292

2.693

3.159

3.700

4.328

5.054

18

1.196

1.428

1.702

2.026

2.407

2.854

3.380

3.996

4.717

5.560

19

1.208

1.457

1.754

2.107

2.527

3.026

3.617

4.316

5.142

6.116

20

1.220

1.486

1.806

2.191

2.653

3.207

3.870

4.661

5.604

6.728

25

1.282

1.641

2.094

2.666

3.386

4.292

5.427

6.848

8.632

10.835

30

1.348

1.811

2.427

3.243

4.322

5.743

7.612

10.063

13.268

17.449

Reference no: EM133122630

Questions Cloud

Determine the flow and pressure drop : Determine the flow and pressure drop in each branch of the network and Describe the various methods of methane drainage available to drain gas for longwall
Business models influenced by internal and external factors : Why is a business model important? How are business models influenced by internal and external factors?
What is marie approximate real rate of return : Marie bought a ?ve-year 4.25% annual coupon bond for $914 one year ago. Today, she EDICI the bond at the market yield rate of 4%. What is Marie'a approximate re
Although organizational power and politics : Although organizational power and politics cannot be eliminated, managers can keep it within reasonable bounds.
Compound interest table compound interest : John Whitten is one of the physicians on staff at Metropolis Health System. His practice is six years old. He has set up an office savings account to accumulate
What amount of amortization expense should echolls record : Echolls Inc. acquired a patent for $750,000 on January 1, 2018. What amount of amortization expense should Echolls record for the patent
Message heard and influence purchasing decisions : We're going to get inside the head of a customer because this is what marketers need to do to get their message heard and to influence purchasing decisions.
Determine whether or not the special order to accepted : Pink Co. Has approached brown Ltd. with an offer to purchase 30,000 units of this part at a price of $0.78. Determine whether or not the special order to accept
Case of sex discrimination : A woman is passed over for promotion and instead the job is award to a man with less experience. She believes that this is a case of sex discrimination.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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