How much of that total is interest

Reference no: EM13167864

You wish to have $500,000 saved up in 30 years. Assuming that you can get an interest rate of prime + 5% on your investment (compounded quarterly.)

a) How much do you need to invest today to have $500,000 30 years in the future?

b) How much of that total is interest?

Reference no: EM13167864

Questions Cloud

Cauchy sequence converges : Give a counter example and then prove why, i.e., a metric space and a sequence, that disproves the claim: Every Cauchy sequence converges.

What is the final volume of the gas : A 36.4 L volume of methane gas is heated from 25 degrees celcius to 88 degrees celcius at constant pressure. What is the final volume of the gas?

Template files contain the message text : Template files contain the message text, together with variable fields(such as Dear [Title] [Last Name ] ...). A database (stored as a text file) contains the field values for each recipient. Use HTML as the output file format. Then design and implem..

Logic circuit to figure out how many of the bits : Design a logic circuit to figure out how many of the bits in a 6 bit unsigned number equal 1. Design the simplest possible circuit to accomplish this.

How much of that total is interest : How much do you need to invest today to have $500,000 30 years in the future and how much of that total is interest?

Prove that p(y|x=x)~bin(n-x,b/1-a) : Prove that p(y|X=x)~Bin(n-x,b/1-a) where x,y,z have multinomial distribution with parameters a,b,c and n.

Determine the patient body temperature in fahrenheit : A robust first grader goes for swimming lessons three times a week, and he enjoys it thoroughly. During the first week of December, he develops an upper respiratory infection, starts coughing continuously, and has a high fever of 39°C.

Button to increase or decrease the number of the balls : Simulates a bouncing ball. Extend to allow mulitple balls. You can use the +I or -I button to increase or decrease the number of the balls and use teh Suspend and Resume buttoms to freeze the balls or resume bouncing. For each ball, assign a random c..

Hierarchy chart and design the logic : Draw the hierarchy chart and design the logic for a program that calculates the projected cost of an automobile trip. Assume that the user's car travels 20 miles per gallon of gas. Design a program that prompts the user for a number of miles drive..

User Account

All Pages