How much will your account be worth

Assignment Help Accounting Basics
Reference no: EM133006965

Question - Suppose you deposit $100 in a savings account that compounds annually at 2%. After 1 year at this rate, the bank changes its rate of compounding to 1.5% annually. Assuming the compounding rate does not change for 4 additional years, how much will your account be worth at the end of the 5-year period?

Reference no: EM133006965

Questions Cloud

By using the annuity method finthe total interest charged : Salleh bought a computer, The interest charged is 12% per annum on the reducing balance. By using the ANNUITY method finthe total interest charged
By using the annuity method find the instalment price : Salleh bought a computer for RM5000, The interest charged is 12% per annum on the reducing balance. By using the ANNUITY method find the instalment price
Conclude whether the loan would be qualified as ODA : The interest rate will be 6% and all the payments are semi-annual. Conclude whether the loan would be qualified as ODA
By using the annuity method find the monthly payment : Salleh bought a computer for RM5000 through an instalment purchase. He paid RM1000. By using the ANNUITY method find the monthly payment
How much will your account be worth : Assuming the compounding rate does not change for 4 additional years, how much will your account be worth at the end of the 5-year period
Why should entrepreneurs care : Why should entrepreneurs care, what pressures venture capitalists face in carrying out their professional money management (intermediation) function?
Find what is the balance of the loan after the fifth payment : What is the balance of the loan after the fifth payment? You take out a loan in the amount of $ 266,000 with annual equal repayments over the next 20 years.
What will be the value of equity : The current value of the ?rm is $500,000. What will be the value of equity if HP Electronic borrows $300,000 and uses the proceeds to pay dividends
What changes might accounting standard setters make : What changes might accounting standard setters make to accounting standards to help with the consistency and more accurate disclosure of intangible assets?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much of the distribution is treated as a dividend

Inca distributed $300,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3

  Calculate the amount of interest expense

Calculate the amount of interest expense related to this loan reported in Franklin Co.'s 2018 income statement

  The gillett companys breakeven point in units is 25000

the gillett companys breakeven point in units is 25000. assuming that variable costs are 50 and fixed costs are 500000

  What is the total amount leven would pay on maturity date

On May 3, 2014, Leven Corp. negotiated a short-term loan of $885,000. What is the total amount Leven would pay on the maturity date?

  What American Opportunity tax credit can claim for Janie

Janie graduates from high school in 2019 and enrolls in college in the fall. What American Opportunity tax credit can claim for Janie

  How do think bank management would react

Share price performance, how do you think bank management would react to an accounting standard requiring counter-cyclical provisioning?

  Normal distribution of demand

Kelly does not want to be out of stock on more than 1% of his orders. There is a one-day delivery time. The standard deviation of demand is five plugs per day. Assume a normal distribution of demand during lead time and a 7-day work week.

  Compute marigold cash payments to suppliers

Marigold Corporation had January 1 and December 31 balances. For 2020, cost of goods sold was $592,000. Compute Marigold's 2020 cash payments to suppliers.

  What is the unappropriated balance of retained earnings

Reacquired 10,000 shares at P30 per share to be held as treasury. What is the unappropriated balance of retained earnings on December 31, 2008

  Compute and interpret the altman z-score

Following are selected ratios for Logitech International SA for the company's 2019 fiscal year. Compute and interpret the Altman Z-score

  In may overhead was overapplied by 300 the company adjusts

uxmaiz corporation had only one job in process during may-job x32z-and had no finished goods inventory on may 1. job

  What would you expect would happen to the cost of equity

What would you expect would happen to the cost of equity if you had to raise it by selling new equity, and why? If the after-tax cost of debt is always less expensive than equity, why don't firms use more debt and less equity? What are some of the..

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