How much more money must you deposit today

Assignment Help Accounting Basics
Reference no: EM132761748

Question: Your older sister deposited $5,000 today at 8 percent interest per year for five years. You would like to have just as much money at the end of the next five years as your sister. However, you can only earn 4 percent per year. How much more money must you deposit today than your sister if you are to have the same amount at the end of five years?

Reference no: EM132761748

Questions Cloud

Compute the predetermined overhead rate : Compute the predetermined overhead rate under the current method of allocation and determine the unit product cost of each product for the current year
Identify what makes this challenging or a gray area : Identify what makes this challenging or a gray area and Critique one scholarly journal article on ethical decision-making for its usefulness
Journalize the entry to record the amount of cash proceeds : On July 1, 20Y1, Danzer Industries Inc. issued $50,000,000 of 10-year, 8% bonds at a market (effective) interest rate of 10%, receiving cash of $43,768,920.
How complicated turnover can be : Based of the information given, what do you believe is/will be the single most common reason undesirable turnover occurs in the Sport Manager position?
How much more money must you deposit today : Your older sister deposited $5,000 today at 8 percent interest per year for five years. You would like to have just as much money at the end of the next five.
Estimate present value of tax benefits from depreciation : Your company is considering a new project that will require $740,000 of new equipment at the start of the project. The equipment will have a depreciable life.
What federal law might prohibit such a program : Is the employer's plan legal? What federal law might prohibit such a program? (Hint: You might benefit from some web searches on wellness plans offered
Find hr service vendors : Find HR service vendors/providers to whom could be outsourced. Take two examples, and compare two to three vendors' information on their websites.
Determine the number of units that Badlands sold in December : March 20x1 sales are expected to total 12,000 units. Determine the number of units that Badlands sold in December 20x0

Reviews

Write a Review

Accounting Basics Questions & Answers

  Problem - Differential Analysis for Sales Promotion Proposal

Problem - Differential Analysis for Sales Promotion Proposal - Prepare a differential analysis as of June 15, 2012, to determine whether to promote moisturizer

  Prepare the journal entry to record income taxes

Prepare the journal entry to record income taxes in 2018 assuming full recognition of the tax benefits in the financial statements

  Construction forms corporation buys securities to be

construction forms corporation buys securities to be available for sale when circumstances warrant not to profit from

  Determine the proper unit value for balance sheet

Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for each of the inventory items above

  During the current month the factory payroll of 180000 was

canberra company uses a job order cost accounting system. during the current month the factory payroll of 180000 was

  Prepare the journal entry for compensation expense

Prepare the journal entry for compensation expense in 2016, 2017, and 2018 relative to the 50,000 SARs.

  Badger recorded 500000 of net sales for the year of which

badger recorded 500000 of net sales for the year of which 2 is estimated to be uncollectible. id and analyze the

  Which statement relating to annual leave is correct

Under Australian awards, which statement relating to annual leave is correct? Employees are generally entitled to five weeks paid annual leave a year.

  Describe a classified income statement

Describe a classified income statement. Be sure to address the classified income statement's four sections and the important financial relationships

  Prepare a schedule translating the trial balance

Prepare a schedule translating the trial balance from Norwegian kroner into U.S. dollars. Assume the kroner is the functional currency

  Recognized gain on the sale

The buyer paid him $110,000 in cash, agreed to take the title subject to the $190,000 mortgage, and agreed to pay him $80,000 with interest at 9 percent one year from the date of sale. How much is Louis' recognized gain on the sale?

  In how many different industries is honeywell involved

This week we will be discussing strategies for increased profitability through an example, Honeywell. Before we begin, please identify Honeywell's website.

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