How much will horace have in bank account in seventeen month

Assignment Help Financial Accounting
Reference no: EM132701343

Interest rates are 5.147% p.a. compounded once every two years.

Question a. What is this expressed as a J2?

Question b. What is this expressed as a p.a. rate compounded once every three years? Horace Hluhluwe invested $20,000 in a bank account at the above rate thirteen months ago.

Question c. How much will Horace have in his bank account in seventeen month's time?

Question d. The bank suggests that Horace transfer his money into the bank's Supersaver account that offers a continuously compounded rate of 4.9% p.a. Should Horace follow the bank's suggestion? Support your answer.

Reference no: EM132701343

Questions Cloud

How exactly will sharing healthcare data help the patients : How exactly will sharing healthcare data help the patients?
What is the materials price variance : If the actual price of cooking oil is $0.035 per ounce and the standard price is $0.03 per ounce, what is the materials price variance
Calculate the amount of depreciation expense recorded : B17-ApY Company purchased equipment costing $214,000 on January 1, 2022. Calculate the amount of depreciation expense recorded on the equipment for 2027.
Will the labor rate variance be favorable or unfavorable : Suppose that the actual labor rate paid is $12 per hour, while the standard labor rate is $11.50. Will the labor rate variance be favorable or unfavorable
How much will horace have in bank account in seventeen month : What is this expressed as a p.a. rate compounded once every three years? Horace Hluhluwe invested $20,000 in a bank account at the rate thirteen months ago
Building an Access Control System : Information Security team at a small college, you have been made the project manager to install an access control system (ACS) in a dormitory.
What amount of investment revenue reported on company : What amount of investment revenue reported on Fl8-5D Company's 2037 income statement related to its investment in Ja-9Ty Company would be equal to
How much does marcy need to contribute to retirement fund : Marcy Johnson, How much does Marcy need to contribute to retirement fund at the end of each year in order to fund her retirement?
Cross-sectional studies : Cross-sectional studies provide important information related to health and behavioral aspects of people of a country, state, county or a community.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine which company is the largest in sales

Assuming that the exchange rates in Exhibit 2 are current and appropriate, convert all the figures to U.S. dollars and determine which company is the largest in sales and which is the largest in assets.

  What is the total bond interest expense over the life

$600,000 face value, 5% bonds with a 5 year maturity at a Premium with a price of 102. What is the total bond interest expense over the life of the bonds?

  Revenue recognition per the current exposure draft

What are the 5 steps to follow in revenue recognition per the current exposure draft? Do you agree with this way of recognizing revenue? Why, why not? Be specific in your answer and provide examples. Feel free to suggest different methods but support..

  What is the accounts receivable turnover for the period

TechCom has net sales of $435,000 and average accounts receivable of $87,000. What is the accounts receivable turnover for the period?

  Prepare a cash budget for the first quarter

Aaron Corporation is projecting a cash balance of $30,576 in its December 31, 2013, balance sheet. Aaron’s schedule of expected collections from customers for the first quarter of 2014 shows total collections of $179,758. Prepare a cash budget for th..

  Compute the break-even point in units and dollars

Compute the break-even point in units and dollars and margin of safety in dollars Assuming no changes to selling price or costs

  Calculate the retained earnings balance

Refer to the data below. Retained earnings, December 31, 2016 $ 692,800 Cost of buildings purchased during 2017 83,600 Net income for the year ended December 31, 2017 113,800 Dividends declared and paid in 2017 65,000 Increase in cash balance from Ja..

  Make entries to record the sale and leaseback of building

Central will pay maintenance and operating costs. The building is being depreciated straight-line, with an estimated remaining life of 16 years. Make entries to record the sale and leaseback of the building.

  Discuss finance its working capital requirements

Super-Fast Transport Ltd incurred expenses of $5000 in arranging a loan to finance its working capital requirements and an expansion of its debtors

  Show the effects of advance payment and revenue recognition

Show the effects of the advance payment and revenue recognition on the 2009 financial statements using a horizontal statements model.

  Complete optimal solution to linear programming problem

Find the complete optimal solution to this linear programming problem. Graph to show each constraint and the feasible region. Provide graph on separate page. What is the optimal value of the objective function?

  How much qualifies as a deduction

For three months, he works weekdays in Boise and returns home on weekends. He spends $410 returning to Salt Lake City but would have spent $390 had he stayed in Boise for the weekend. As to the weekend trips, how much, if any, qualifies as a deduc..

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