How much money will you require to deposit to get goals

Assignment Help Financial Accounting
Reference no: EM135827

You have a newborn son. You need to plan for his future and there are three things that you would like to be able to provide him. At the age of 16, you want to buy him a car which may cost $20,000. At the age of 18, you could like to send him to college, costing $25,000 each year for 4 years. At the age of 23, you could like to be able to help him start a new business costing you $30,000. You plan to start on his 1st birthday making annual deposits throughout his 16th birthday. Suppose a 10% interest rate, how much money will you require to deposit each year to be able to meet these financial goals?

Reference no: EM135827

Questions Cloud

Detailed studies of the behaviours of individual fish : A fish on the outside of a school swims inward, leaving other fish on the edge. These new "edge" fish then move inward and the cycle repeats.
Hardball for women - the loyalty game : Hardball for Women, contains many useful tips that women need to know in order to navigate corporate culture. The following list of chapters has one or more discussion questions/exercises
Economic profit or loss : What was the accounting profit for the new business. What was the economic profit or loss. Explain your calculations for both questions.
Evaluate company''s revenue and net income : Try to evaluate filings before, during, and after ERP systems were implemented. Summarize your findings. How would you describe reasons for the company's revenue and net Income trend to the average personal investor
How much money will you require to deposit to get goals : Suppose a 10% interest rate, how much money will you require to deposit each year to be able to meet these financial goals?
Oil and gasoline prices in the united states : Oil and gasoline prices are a concern in the United States. Why does this economic problem exist from a supply and demand perspective, what can be done to improve resource allocations.
What are the genotypes of the parents : What information does it not provide that may be useful for deciding on conservation efforts. What are the genotypes of the parents.
Evaluate tamras actual factory overhead costs : Evaluate Tamra's actual factory overhead costs for February 2013. Direct labor costs and Actual per-unit direct material for February 2013 were $24.30 and $10.95. Determine actual total product cost for February.
Determine the stoichiometric relationship : Illustrate one experiment that shows that shh is the critical molecule produced by the inducing tissue referred to in (a). what is the evidence that this tissue regulates the ventral pattern of the neural tube (even before this tissue was known to pr..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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