How long will it take her to accumulate

Assignment Help Financial Accounting
Reference no: EM132865675

Problem - Calculation of Years - Kelly Seaver has decided to start saving for her daughter's college education. Kelly wants to accumulate $32,000. The bank will pay interest at the rate of 4% compounded annually. If Kelly plans to make payments of $1,600 at the end of each year, how long will it take her to accumulate $32,000?

Reference no: EM132865675

Questions Cloud

Marketing excellence-coca-cola : Review the "Marketing Excellence: Coca-Cola" case study on pp. 611 of your Marketing Management textbook, 5th Ed by Kotler & Keller.
How understand the meaning of life : How understand the meaning of life. For example, if you adopt Wolf's or Frankl's conception of meaning in life, then you need to present her/his conception
What should susana consider the value of the car to be : The car dealer used a 12% rate compounded annually to determine the amount of the payments. What should Susana consider the value of the car to be
Discuss basics of analytical writing and audience needs : This week, you will discuss the basics of analytical writing and audience needs. Word your explanation in a manner that displays your understanding and applicat
How long will it take her to accumulate : If Kelly plans to make payments of $1,600 at the end of each year, how long will it take her to accumulate $32,000
Switching suppliers and cost of switching suppliers : What are some areas of a company adversely affected when switching suppliers? How would altering suppliers affect the different areas of a manufacturing company
Find reputable sources of economic and socioeconomic : Where do you find reputable sources of economic and socioeconomic? Indicators? What economic indicator has the most crucial influence on your company's FDI in
How much will Steve have in the bank : A bank has agreed to pay interest at the rate of 4% compounded annually. How much will Steve have in the bank immediately after his 15th deposit
Impact of historical research on businesses : Identify one of the historical researchers who have been instrumental in advancing the related sciences of Job Design and Work Measurement.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Do statement of cash flows for the year ending December

A patent was purchased from a competitor for $12,000. Do statement of cash flows for the year ending December 31, 2019

  What is cost to dealer of every customer who takes advantage

What is the cost to the dealer of every customer who takes advantage of this offer? If you could borrow money to buy a car from this dealer.

  How much is the deferred tax balance on June

On 1 July 2019, a parent entity sold a depreciable non-current asset to a subsidiary entity for $10000. How much is the deferred tax balance on June

  How much interest billy have to pay in thirty-day month

How much interest would Billy have to pay in a 30-day month? Billy Thornton borrowed $105,000 at a rate of 7.25%, simple interest, with interest paid

  Find what amount should be reported as basic earnings

Find What amount should be reported as basic earnings per share for 2019 for presentation in comparative financial statements on December 31,2020?

  Advise the firm whether the project should be undertaken

The company uses a 12% discount rate on the new project. Using the NPV approach, advise the firm whether the project should be undertaken

  Total liabilities decreased

If assets increased by $8,000 and the total liabilities decreased by $2,000 during the accounting period, what is the change in the owner’s equity amount? Paul invested cash in his new business. What effect will this have?

  Financial statements of a manufacturing firm

Financial Statements of a Manufacturing Firm. The following events took place for LAE Manufacturing Company during January 2014, the first month of its operations as a producer of digital thermometers:

  Flow of an accounting information system

Why is it considered important to document the flow of an accounting information system and how does a document flowchart assist (i) an accountant, and (ii) a data security expert?

  What is the amount of consolidated net income reported

Plant Company acquired 100%, What is the amount of Consolidated Net Income reported for the fiscal year ending December 31, Year 5?

  What is the primary function of microsoft access

What is the primary function of Microsoft Access? Explain how Access uses tables and explain the difference between fields and records.

  Find what monthly lease payment due in advance charged

Find What monthly lease payment due in advance should be charged for a tract of land valued at $25,000 if the agreed interest is 5.13% compounded annually?

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