How large will the last deposit be

Assignment Help Financial Management

Reference no: EM131296518

You need to accumulate $10,000. To do so, you plan to make deposits of $1,250 per year, with the first payment being made a year from today, in a bank account that pays 12 percent interest, compounded annually. Your last deposit will be less than $1,250 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal, and how large will the last deposit be?

Reference no: EM131296518

Questions Cloud

How would you tell the distributor to treat given result : Suppose the optimal solution produced by the method you suggested included two routes which both had delivery to the same point. How would you tell the distributor to treat this result?

How does it differ from active and passive euthanasia : What is physician-assisted suicide, and how does it differ from active and passive euthanasia?Using his article "The Wrongfulness of Euthanasia," would J. Gay-Williams morally approve of Cody's decision?

What should be the size of the settlement : You are serving on a jury. A plaintiff is suing the city for injuries sustained after falling down an uncovered manhole. In the trial, doctors testified that it will be 5 years before the plaintiff is able to return to work. ?Assume an interest rate..

Respective company performance : Analyze how each leadership style might affect the respective company's performance and alignment to values. Discuss which leadership style you are most aligned to.

How large will the last deposit be : You need to accumulate $10,000. To do so, you plan to make deposits of $1,250 per year, with the first payment being made a year from today, in a bank account that pays 12 percent interest, compounded annually. Your last deposit will be less than $1,..

What is its present value-what is its future value : An investment pays you $100 at the end of each of the next 3 years. The investment will then pay you $200 at the end of Year 4, $300 at the end of Year 5, and $500 at the end of Year 6. If the interest rate earned on the investment is 8 percent, what..

Describe specific strategies utilized by the social movement : Describe the specific strategies utilized by the social movement in the case study. What were the advantages and disadvantages of utilizing these strategies?

Vedder also has two bond issues outstanding : Vedder, Inc., has 6.8 million shares of common stock outstanding. The current share price is $61.80, and the book value per share is $4.80. Vedder also has two bond issues outstanding. The first bond issue has a face value of $70.8 million, a coupon ..

What kind of deal did the running back scamper off with : In 2015, a running back signed a contract worth $67.4 million. The contract called for $11.5 million immediately and a salary of $3.8 million in 2015, $10.1 million in 2016, $11.5 million in 2017, $9.7 million in 2018 and 2019, and $11.1 million in 2..

User Account

All Pages