How much money do you need to put in the bank

Assignment Help Financial Management

Reference no: EM131619309

Suppose you will need to have $15,000 in the bank three years from today. Your local bank offers a three-year CD that pays 2.5% per year with annual compounding. How much money do you need to put in the bank today so that you can have $15,000 in three years.

Reference no: EM131619309

Questions Cloud

Main benefits normally available under an endowment policy : Describe briefly the two main benefits normally available under an endowment policy

What is your best guess of the stock return : Research has identified two systematic factors that affect U.S. stock returns. what is your best guess of the stock's return?

Replications of design point : A clerk in the admissions office at Small State University processes requests for admissions materials. The time to process requests depends on the program.

What will be your monthly payments : what will be your monthly payment? If the interest rate goes down to 5%, what will be your monthly payments?

How much money do you need to put in the bank : How much money do you need to put in the bank today so that you can have $15,000 in three years.

Budgeted monthly payment : Your budgeted monthly payment is $300. Will a car loan of $30,000 break your budget, assuming 5% annual interest?

Equivalent resistance of the circuit : This pair is then connected in series in with another 4 O resistor. What is the equivalent resistance of the circuit?

Payback period acceptance benchmark : What is a real-world example of the payback period acceptance benchmark?

Measured by an observer on the earth : An astronaut flies from the Earth to a distant star at 60% of the speed of light. As measured by the astronaut, the one-way trip takes 18 years.

User Account

All Pages