How much money did kens parents place

Reference no: EM13340443

1) In five years your oldest child will be in 8th grade, at which point you and your family plan to vacation in Spain. You estimate that you will need $20,000 for the trip. How much do you need to set aside today if you can place your money in an investment vehicle earning an average of 4.50% per year? 1) _______

2) Swan Construction had sales seven years ago of $2,150,000. This year their sales hit $4,600,000. What has been Simpson's average annual rate of growth of sales? 2) _______

3) Your friend Ken started college at the age of 18 with $63,450 already saved, because 18 years ago when he was born his parents placed money into a special college savings account earning 7.25% per year. How much money did Ken's parents place into his college account? 3) _______

4) Gasoline cost $.10 per gallon in 1930. Over the next 60 years, the price rose at an average rate of 4.42% per year. Based on this information, what was the average price of a gallon of gas in 1990? 4) _______

5) Given the following cash flows, what is the future value at year ten when compounded at an interest rate of 12.0%?

Year	0	1	5	10
Cash Flow	$4,000	$3,000	$2,000	$1,000

5) _______

Reference no: EM13340443

Questions Cloud

What is the magnitude of the maximum torque : A square, 0.67 m on a side, is mounted so that it can rotate about an axis that passes through the center of the square. What is the magnitude of the maximum torque

Explain a thermodynamic equation of state : Using basic knowledge of Maxwell relations and such, can you derive a thermodynamic equation of state that can allow for the easy evaluation of this parameter

Identify the statement about current liabilities : Identify the statement about current liabilities that is NOT true.

What is the frequency of the beat : Two guitarists attempt to play the same note of wavelength 6.50cm at the same time, What is the frequency of the beat these musicians hear when they play together

How much money did kens parents place : How much money did Ken's parents place into his college account and what is the future value at year ten when compounded at an interest rate of 12.0%?

What is its apparent height : A car's outside rear-view mirror is convex, with focal length -1.5m . In the mirror you see a truck that's actually 4.0m tall and 10.3m behind you. What is its apparent height

Basal ganglia would be expected to produce difficulties : Damage to the basal ganglia would be expected to produce difficulties in:

Choose a public company in the food industry : Analyze the financial statements and assess whether the financial performance has improved or declined year-over-year.

Explain ascorbic acid using hcl as a catalyst : In this experiment we reduced methylene blue with ascorbic acid using HCl as a catalyst. Given that the half reaction for the reduction of methylene blue is MB+(ox) +2H +2e ----->MBH2(red) (potential = 100 mV)

User Account

All Pages