How much will you have after four years

Assignment Help Financial Accounting
Reference no: EM133022926

Question - Your parents are giving you $726 on the LAST day of every month for 4 years while you are in college. Suppose the annual interest is 6.7 percent, but compounded monthly. If you saved your allowance every month, how much will you have after four years? Round your answer to two decimal places.

Reference no: EM133022926

Questions Cloud

Prepare journal entries : The present value of an ordinary annuity of 1 at 12% is 5.33 for nine periods and 5.65 for ten periods. Prepare journal entries for 2019, 2020 and 2021
What is the sales revenue under the optimistic case scenario : The expected variable cost per unit is $7 and the expected fixed cost is $36,000. What is the sales revenue under the optimistic case scenario
What will be the beta of the new portfolio : You plan to use the proceeds to purchase another stock that has a beta equal to 0.48. What will be the beta of the new portfolio
How much will you have in the IRA when you retire : At age 33 to save for retirement you decide to deposit $90 at the end of each month. How much will you have in the IRA when you retire
How much will you have after four years : Suppose the annual interest is 6.7 percent, but compounded monthly. If you saved your allowance every month, how much will you have after four years
Determine the amount of money : Determine the amount of money in a savings account at the end of 6years, given an initial deposit of AED 18,000 and 12 percent annual interest rate
What will the cash flows for this project be : The tax rate is 21 percent and the required return on the project is 10 percent. (Use SL depreciation table) What will the cash flows for this project be
Is the variable cost from the cost of unit sold : The company reported a $2,700,000 gross margin on its financial statements. Is the variable cost the $35 from the cost of unit sold
Reflect on your learnings and write a summary : Reflect on your learnings and write a summary of your learnings using no more than 300 words - How your views of effective business communication have changed

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the first-year depreciation using the straight-line

On January 1, the Matthews Band pays $65,400 for sound equipment. Compute the first-year depreciation using the straight-line method.

  Determine the present value of goal using a discount rate

How would the present value change if the $600,000 is to be received at the end of 15 years instead? Explain the impact and show your work?

  What are the latest views on materiality

What are the latest views on materiality in financial accounting and how have standards for measuring materiality changed since passage of the Sarbanes-Oxley Act?

  How much higher or lower will net operating income be

How much higher or lower will net operating income be if the underapplied or overapplied overhead is allocated to Work in Process

  Calculate semi-annual rate that is equivalent to six percent

Consider an effective annual yield of 21% per year. Convert this into an APR interest rate in a situation where payments are made every 4 months.

  Evaluate the net present value

Evaluate the net present value (NPV) and internal rate of return (IRR) of the Apex expansion project.

  What was the amount of cash flow from operating activities

The company's accounts receivable balance decreased by $8,700. Based on this information alone, what was the amount of cash flow from operating activities?

  What is manny current marginal tax rate

What is Manny's current marginal tax rate for 2020? Manny, a single taxpayer, earns $67,600 per year in taxable income and additional $12,260 per year in city.

  Deferred tax liability amounts

Determine the total deferred tax asset and deferred tax liability amounts at December 31, 2013. (Enter your answers in millions. Input all amounts as positive values.) Deferred tax asset $ million Deferred tax liability $ million 2. Determine the inc..

  Purpose a statement of cash flows

Purpose a statement of cash flows. Use the indirect method of reporting cash flows from operating activities

  Which financial statements group financial transactions

Which Financial statements group financial transactions and events into economic characteristics called? Comprehensive income.

  Accept or reject a new product line-compute net cash inflow

Based on the decision criteria below, should the proposed project be accepted or rejected? Why or why not? As accountants, you must do a Net present Value analysis, and make a recommendation to management. Compute the net cash inflow (cash receipts l..

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