Computing the annuity payments

Assignment Help Financial Accounting
Reference no: EM132420977

?(Annuity payments) To pay for your? child's education, you wish to have accumulated ?$12,000 at the end of 12 years. To do? this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 12 percent compounded? annually, how much must you deposit each year to obtain your? goal?

The amount of money you must deposit each year in order to obtain your goal is ?$ nothing. ?(Round to the nearest? cent.)

Reference no: EM132420977

Questions Cloud

No longer need to consider reinvestment rate risk : Investors should be happy. Since the bonds have been called, investors will no longer need to consider reinvestment rate risk.
Company balance sheet and income statement : What happens to the company's balance sheet and income statement in July after Macy's pays them the $1mm?
Income statement for the company : The company's income tax rate is 30%. Create an income statement for the company. Also, what is EBITDA?
List three reasons people make ethical decisions : Three reasons they make unethical decisions.three factors that lead to ethical decisions and three factors that lead to unethical decision
Computing the annuity payments : To pay for your? child's education, you wish to have accumulated ?$12,000 at the end of 12 years
Calculate the implied price per share : The required rate of return on this stock is 7.1%. Calculate the implied price per share. (Round to 3 decimals)
Section of the accounting standard codification : Which section of the Accounting Standard Codification best helps Crank's controller determine the proper accounting treatment of the application development
Section of the accounting standards codification : Which section of the Accounting Standards Codification best states the items of other comprehensive income?
Analysis and design - functionality of the maze game : Analysis on the use of a development methodology in creating the game describing how did this assist, or make the development of the game more complicated.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Accounts receivable before allowance for doubtful accounts

At the close of its first year of operations, December 31, 2017, Ming Company had accounts receivable of $1,620,000, after deducting the related allowance for doubtful accounts. What should the company report on its balance sheet at December 31, 2017..

  Reduce reported pension liability are substantive

Some changes that reduce a reported pension liability are substantive; others are merely cosmetic. A state government, concerned that one of its defined benefit pension plans is severely underfunded, is considering measures, some substantive, others ..

  Compute the issue price of the bonds

Whiteside Corporation issues $603,000 of 9% bonds, due in 12 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the bonds

  What amount of the foregoing revenues should be accounted

What amount of the foregoing revenues should be accounted for in Ariba's government all type funds?

  Determine the return on sales ratio for each method

XYZ company made $210,000 in sales to customers of which $150,000 was collected in cash. XYZ company incurred 75,500 in expenses of which $40,200 was paid in cash. What is the Accrural Basis Net Income and the Cash Basis Net income? Determine the Ret..

  What is the total money supply resulting from your initial

You have decided to deposit $2,000 in a savings account in the Commonwealth Bank, which does not have any excess reserves at the time when you make a deposit. How does your deposit change the Bank's T-account? Show the T-account changes. If the proce..

  What is their nominal yield to maturity

A firm's bonds have a maturity of 14 years with a $1,000 face value, have an 11% semi annual coupon, are callable in 7 years at $1,234, and currently sell at a price of $1,402.66. What is their nominal yield to maturity? What is their nominal yield t..

  Describe the risk associated with netflixs investment

Describe the risk associated with Netflixs investment in content-Describe the risk associated with Outerwall Inc.'s investment in content.

  How much was invested in each account

Maria invested $5500 in two mutual funds. One fund earned an 8% profit, while the other earned a 1.5% profit. Between the two accounts, Maria made a profit of $180. How much was invested in each account?

  Write a report explaining this abnormal trend

Using any information you can obtain about this company and industry, write a report explaining this abnormal trend between the net income and the cash flow numbers and whether this should be a red flag to investors and creditors.

  Accumulate enough to liquidate the debt

What is the amount of the payments that Morgan Winslow must make at the end of each of 9 years to accumulate a fund of $81,600 by the end of the 9th year, if the fund earns 9% interest, compounded annually? Julia Ross has $19,700 to invest today at 1..

  Determine the annual rate of return on investment

Determine the annual rate of return on investment? Use 360 day year in your calculation and evaluate the annual rate of return on investment? Use 360 day period

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