How much interest would he earn in this investment

Assignment Help Accounting Basics
Reference no: EM133024288

Question - Thomas set up a savings fund for his son's education so that he would be able to withdraw $1,600 at the beginning of every month for the next 9 years. The fund earns 4.44% compounded quarterly.

Required -

a. What amount should he deposit today to allow for the $1,600 periodic withdrawals?

a. $100,388.60

b. $142,332.64

c. $142,857.33

d. $101,502.91

b. How much interest would he earn in this investment?

a. $142,857.33

b. $29,942.67

c. $172,800.00

d. $30,467.36

Reference no: EM133024288

Questions Cloud

Business intelligence-static and dynamic models : How does prescriptive analytics relate to descriptive and predictive analytics? Explain the differences between static and dynamic models.
Prototypes influence the opinions : How do prototypes influence the opinions of a potential user?
Calculate bad debt expense from these findings : Calculate bad debt expense from these findings? At the beginning of the current period, Larkspur Corp. had balances in Accounts Receivable of $201,400
Differences in user accounts defined on different computers : How will the administrators resolve differences between user accounts defined on different computers?
How much interest would he earn in this investment : Thomas set up a savings fund for his son's education so that he would be able to withdraw $1,600. How much interest would he earn in this investment
Responsible for design of network : Think about and describe a scenario whereby you are the individual responsible for the design of a network for a large organization.
Using levels of analysis to reflect on my experiences : Using Levels of Analysis to Reflect on my Experiences of Studying and Learning - An explanation of each ‘level of analysis': the biological level, psychological
Privacy and confidentiality important : Why are privacy and confidentiality important for your study participants? What are some ways to maintain and ensure privacy and confidentiality?
Appropriate chain of custody and evidence integrity : Discuss three considerations that must be addressed to effectively follow the appropriate chain of custody and evidence integrity.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Randiddle co. is a merchandising business

Randiddle Co. is a merchandising business.

  Corporation is issuing 153400 of 8 percent five year bonds

corporation is issuing 153400 of 8 percent five year bonds when potential bond investors want a return of 10 percent.

  What is the present value of a lottery paid as an annuity

What is the present value of a lottery paid as an annuity due for twenty years if the cash flows are? $150,000 per year and the appropriate discount rate is? 7.

  Prepare any necessary journal entry or entries

On June 30, 2016, Blondie Fixtures was considering alternatives. Prepare any necessary journal entry or entries if receivables are factored under Option One.

  Determine sales invoices to the customers process

Determine and prepare the Sales Invoices to the customers , Bills from the Vendors, Purchase Orders and Credit Note process in detail

  Harmon company uses the weighted-average method in its

harmon company uses the weighted-average method in its process costing system. the curing department of harmon company

  Compute the second-year depreciation

Computer equipment was acquired at the beginning of the year at a cost of $51,519. Compute the second-year depreciation using the straight-line method

  Prepare a production cost

Beginning work-in-process inventory (1/3 complete) 6,000 units. Prepare a production cost worksheet using the FIFO method

  Wallowa company is considering a long-term investment

wallowa company is considering a long-term investment project called zip. zip will require an investment of 122249. it

  The orgonne milling co is contemplating purchase of new

the orgonne milling co. is contemplating purchase of new equipment. the machinery is expected to generate increased

  The ledger of custer company has the following work in

the ledger of custer company has the following work in process account. work in processacirc??painting 51 balance 3860

  Analyze and establish budgets

The information from these statements is used to analyze and establish budgets, forecast, variance reports, and ratios, among other things, with the key being that they are only used internally).

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