Future and present values of lump sum amount

Assignment Help Finance Basics

Reference no: EM1328674

Your grandfather put some money in an account for you on the day you were born. You are now 18 years old and are allowed to withdraw the money for the first time. The account currently has $3,996 in it and pays an 8% interest rate.

a. How much money would be in the account if you left the money there until your 25th birthday?

b. What if you left the money until your 65th birthday?

c. How much money did your grandfather originally put in the account?

Reference no: EM1328674

Questions Cloud

Concept of exclusionary rule play : To what extent might one argue that the exclusionary rule has gone too far in protecting civil liberties at the expense of fighting crime?

Promote the venture concept to upper-management : Product champions are those individuals working within a corporation who bring entrepreneurial ideas forward, identify what kind of markets exists for the product or service, find resources to support the venture, and promote the venture concept to u..

Describe implications for pricing of batteries : Describe implications for pricing of batteries, brakes and oil changes on the sale of tires.

Explain the legal, ethical and regulatory issues : Explain the Legal, Ethical and Regulatory issues related to Websites and describe how each site handles security

Future and present values of lump sum amount : Your grandfather put some money in an account for you on the day you were born. You are now 18 years old and are allowed to withdraw the money for the first time. What if you left money till your 65th birthday? How much money did your grandfather o..

Discussing the religion and constitution : Discuss the concept of establishment of religion and the relevancy of Zorach v. Clauson.

Describe the three types of strategic alliances : Describe the three types of strategic alliances and the reasons why companies develop them. Describe situations when each is most appropriate to adopt.

Breifly explain the effect of an increase in money supply : Breifly explain the effect of an increase in money supply.

Collin-s definition of a level five executive : In the unit readings, you examined Collin's definition of a Level Five Executive, Kotter's discussion of leadership for the future, Greenleaf's definition of a Servant Leader, and Graham's discussion of breaking the rules.

User Account

All Pages