Equal year-end deposits into a savings account

Assignment Help Finance Basics
Reference no: EM131388364

For the next 6 years, you decide to place $3,494 in equal year-end deposits into a savings account earning 6.85 percent per year. How much money will be in the account at the end of that time period?

Round the answer to two decimal places

Reference no: EM131388364

Questions Cloud

Perpetuity discounted back to the present : What is the present value of a $624 perpetuity discounted back to the present at 9.63 percent.
How does the specificity rule enter into the discussion : One repsonse to the problems faced by countries that do not feel they are benefitting from trade is to have gov't interfere in the process with things like tariffs. Outline the case for tariffs/situations where tariffs may work. How does the 'specifi..
Earns an annual interest rate : You placed $9,258 in a savings account today that earns an annual interest rate of 11 percent compounded annually. How much will you have in this account at the end of 38 years? Assume that all interest received at the end of the year is reinveste..
Reduces output below potential output : What was the Fed's mistake in causing the Great Inflation of the 1970s? They mistakenly thought that the decrease in output was because of a negative demand shock that reduces output below potential output, but in truth the productivity slowdown was ..
Equal year-end deposits into a savings account : For the next 6 years, you decide to place $3,494 in equal year-end deposits into a savings account earning 6.85 percent per year. How much money will be in the account at the end of that time period?
Design a fourbar linkage to move the object : Design a fourbar linkage to move the object in Figure P3-l3 from position 1 to 2 using points A and B for attachment. Add a driver dyad to limit its motion to the range of positions shown making it a sixbar. All fixed pivots should be on the base.
Describe the alternative policies to tariffs : Describe the alternative policies to tariffs. It has been said that tariffs generally lower world well being, lowers the well being of each nation, and whatever a tariff can do, something else can do better. Explain. The best answer will include PPF'..
Bright star bank pays a nominal annual : Bright Star Bank pays a nominal annual (quoted) interest rate of 6.02 percent, compounded quarterly on your savings account. Calculate the effective annual rate, or EAR (annual percentage yield)
Why do market failures arise in case of public goods : When negative externalities exist in production, _____. Why do market failures arise in case of public goods?

Reviews

Write a Review

Finance Basics Questions & Answers

  What assumptions about reinvestment rates

What assumptions about reinvestment rates are embodied in the NPV, IRR, and MIRR methods?

  Determining the exchange rate risk

This makes you reluctant to do business with Kreploc because of exchange rate risk. The marketing department can't understand why you have any concerns at all. Prepare a brief explanation, including an illustration, of why you're concerned.

  Higher impact on the us economic growth

Assume that before the policies are implemented, the current account was in equilibrium and all foreign transactions are made in US dollars

  Seven scores are ranked from smallest

If the following seven scores are ranked from smallest (#1) to largest, then what rank should be assigned to a score of X = 6? Scores: 1, 1, 3, 6, 6, 6, 9

  Value of the option to expand

What is the value of the option to expand? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

  Explain how title insurance works what risks does it cover

explain how title insurance works. what risks does it cover? who pays and when? what common exceptions does it

  What is the value per share of the company stock

The required rate of return on the stock, rs, is 17%. What is the value per share of the company's stock? Round your answer to the nearest cent.

  Compute net proceeds to the corporation

The Conely Company is about to go public. It currently has after tax earnings of $7,500,000, and 2,500,000 shares are owned through the present stockholders.

  Statistical relationship between money growth and inflation

Suppose a central bank is trying to decide whether to target money growth. - What warning might you issue to the central bank when they ask your advice?

  Write a 850 word paper explaining reasons behind bank

write a 850 word paper explaining reasons behind bank regulations.address the federal reserversquos primary functions

  What is the present value of 750 per year for 50 years

what is the present value of 750 per year for 50 years first cash flow occurs one year from today given an interest

  A large manufacturing firm has been selling on a 310 net 30

1.the concept of operating leverage involves the use of to magnify returns at high levels of operation. a fixed costs

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