How much account earns interest compounded daily

Assignment Help Econometrics
Reference no: EM13207135

You have a habit of drinking a cup of Starbucks coffee ($3.50 a cup) on the way to work every morning. If instead you put the money in the bank for 30 years, how much would you have at the end of that time, assuming that your account earns 5% interest compounded daily? Assume also that you drink a cup of coffee every day, including weekends.

Reference no: EM13207135

Questions Cloud

Estimate the benefit to society from the use of the filter : Assume that the cost of purchasing an exhaust filter for a certain factory is $6,000 and the filter needs to be replaced every three years. If the estimated benefit to society from the use of the filter is $3,000 for the first year and $1,900 for ..
State what mass of calcium carbonate is required to react : what mass of calcium carbonate is required to react with 137.8 mL of a 0.6943 M sulfuric acid solution?
How high is the bridge above the river : From a point 20m closer to the bridge, the angle of elevation of the top of the bridge is 72.8 degrees. How high is the bridge above the river, to the nearest metre?
Explain the pressure in the tank in atmpshere at a temp : What is the pressure in the tank in atmpshere at a temp. of 33 degrees celcius after the CO2 (r) has been coverted to gas?
How much account earns interest compounded daily : You have a habit of drinking a cup of Starbucks coffee ($3.50 a cup) on the way to work every morning. If instead you put the money in the bank for 30 years, how much would you have at the end of that time, assuming that your account earns 5% inte..
Solve the equation : Write an equation that can be used to determine the total weight of all the newspapers Sam has bundled.
How many hamburgers were sold : what is the formula for a combined total of 476 hamburgers and cheeseburgers. The number of cheeseburgers sold was three times the number of hamburgers sold. How many hamburgers were sold.
What mass is produced when solution is added to solution : what mass of PbSO4, is produced when 25.0 Ml of 0.2338M Pb(NO3)2 solution is added to 25.0 mL of 0.0971M Al2(SO4)3 solution,
Impression of precise painting style : The photographic quality of Jan Van Eyck's work has been both praised and criticized. Describe your impression of this precise painting style in comparison to another Renaissance artist of your choice.

Reviews

Write a Review

Econometrics Questions & Answers

  At what level should phone company set the charges

An upstart phone company has only two potential large customers, Firm A and Firm B. Firm As monthly demand for phone calls is Q1 = 2; 800 - 200p and Firm 2s is Q2 = 5; 000 - 100p. The marginal cost of providing a phone call is 6 cents.

  Why when the same efforts must be made to uncork

most customers tip according to a percentage rule between 15 and 25 percent of the bill.diners who have dinner and a $20 bottle of wine usually pay the same percentage of the bottle price as diners who order a $100 bottle.

  Determine whether biomass is profitable if a rate of return

A biomass plantation operator can invest $1,000 today to plant a new crop of trees, which, is estimated, can be sold at a net gain(sales-harvesting costs) of $10,000 in 40 years. Determine whether this is profitable if a rate of return of 7%/yr is..

  What is probability that the survey will provide a sample

People end up tossing 12% of what they buy at the grocery store (Reader's Digest, March, 2009). Assume this is the true population proportion and that you plan to take a sample survey of 540 grocery shoppers to further investigate their behavior.

  Determine the probability of winning

Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets

  Find the new m2 money multiplier

On January 1 2011: C/D = 0.2 T/D = 1.8 ER/D = 0.3 MB = USD. 12000000 Required reserve ratio on checkable deposits = 0.10 Required reserve ratio on time deposits = 0.07 These ratios have been defined in class and are assumed constant.

  How much mpl of new hire is expected

You employ five workers and deciding whether to hire an additional help. MPL of new hire is expected to be 500 units per week. The market wage rate for the skill you are looking for is $1200 per week.

  What is the profit associated with using third degree price

Cinema Theater has estimated the following demand functions for its movies: Daytime demand, QD = 400 - 50 PD Nighttime demand, QN = 200 - 20 PNThe marginal cost of serving another customer is $5 and its fixed costs are  $100.

  What will happen to price of advertisement

A monopolist has two types of customers. There are 100 of Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to either $8. Neither is willing to purchase additional units at any price. If it m..

  What is the socially optimal number of concerts

The Santa Barbara Bowl (SBB) holds outdoor music events (M), earning $3 of revenue from each concert and with total costs of cM(M) = M2=8 for M concerts. Ursula is a writer who lives right next to the SBB and who sells her novels on the competitiv..

  Write down the probability mass function

Simple linear regression predicting the change in performance (in seconds taken to run a race) for 800m runners by the average hours of training undertaken per week during the pre-season.

  What amount will total lendable deposits in banking system

Joe has never trusted banks and always kept his money in cash. Joe pulls out his money jar, discovers that it has $20,000 in it, and decides it is unsafe to keep that much cash. Joe stops at the Local National Bank the following day, opens a check..

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