How much will have available to put down on that home

Assignment Help Financial Econometrics

Reference no: EM13335742

Kate and Richard just won $35,000 in the Pennsylvania state lottery. They decide to spend $9,000 now and put the remaining $26,000 in an investment earning 7 percent compounded annually. If they use the money in that investment for a vacation home in 9 years, approximately how much will they have available to put down on that home?

Reference no: EM13335742

Questions Cloud

What is the present value of the 22000 dollar payment : Lisa Carson has the opportunity to receive $15,000 now or $22,000 in 4 years. If Lisa can earn 9 percent on her investments, what is the present value of the $22,000 payment

What is the eccentricity of the orbit : Consider a particle moving in an elliptical orbit in an inverse square law central force field. What is the eccentricity of the orbit

What condition would encourage research and development : If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development? What condition would encourage research and development in competitive i..

Aspect of management of a virtual organization : Please select a relevant article related to one aspect of management of a virtual organization. Briefly summarize the article and critique the major points. This is not just a report, it is a critical analysis of the article.At least 1 and half page ..

How much will have available to put down on that home : Kate and Richard just won $35,000 in the Pennsylvania state lottery. They decide to spend $9,000 now and put the remaining $26,000 in an investment earning 7 percent compounded annually.

Explain what mass of gold is produced of current : What mass of gold is produced when 12.8 A of current are passed through a gold solution for 44.0 min. Express your answer with the appropriate units.

Determine how much less will neville pay in taxes : Neville Longbottom has been asked to serve as a consultant on a building project and can get paid his fee up-front or at the end of the long project. He has agreed to do the consulting work for a fee of $10,000

Calculate ilkka utility-maximizing purchases of x and y : Ilkka’s income is $120 and he spends it on two goods, X and Y. His utility function is U = XY. Both X and Y sells for $2 per unit.

Define how many minutes will it take to electroplate of gold : How many minutes will it take to electroplate 46.1 g of gold by running 5.00 A of current through a solution of Au+(aq)? Express your answer to three significant figures and include the appropriate units.

User Account

All Pages