User Account

All Pages

How much would you have in your account at the end of year

Assignment Help Financial Accounting
Reference no: EM132735808

Problem - Assume that 1 year from now you plan to deposit $1,000 in a savings account that pays a nominal rate of 8%.

Required -

a. If the bank compounds interest annually, how much will you have in your account 4 years from now?

b. What would your balance be 4 years from now if the bank used quarterly compounding rather than annual compounding?

c. Suppose you deposited the $1,000 in 4 payments of $250 each at the end of Years 1, 2, 3, and 4. How much would you have in your account at the end of Year 4, based on 8% annual compounding?

d. Suppose you deposited 4 equal payments in your account at the end of Years 1, 2, 3, and 4. Assuming an 8% interest rate, how large would each of your payments have to be for you to obtain the same ending balance as you calculated in part a?

Reference no: EM132735808

Questions Cloud

Relationship between situational analysis and action plans : Explain the relationship between situational analysis and action plans. What are some of the primary barriers to the effective implementation of strategies.
Describe community resources available to meet the need : Describe community resources available to meet the need of the specific community in this problem area. Summarize the resources available and describe.
What learning issue you want to explore : What learning issue you want to explore? the topic should be some learning issue you (and others) have that relates to a habit of mind or way of thinking.
Determine or calculate the selling price per unit : Determine or calculate the selling price per unit if a net profit of R486 000 is desired. Variable manufacturing overhead costs per unit R2
How much would you have in your account at the end of year : Suppose you deposited the $1,000 in 4 payments of $250 each at the end of Years 1, 2, 3, and 4. How much would you have in your account at the end of Year
How traditional costing system could be used : Explore how a standard/traditional costing or activity-based costing system would/could be used. What are the benefits and the risks
Who are the losers in times of high inflation : Who are the losers in times of high inflation? In times of recession? In times of depression? Provide specific examples to support your answer.
What benefits for activity based costing model : What benefits and drawbacks are there for a business that uses a Standard/Traditional Costing model? and Activity Based Costing (ABC) model?
How will you recognize the contributions of others : Watch the video to address the following. Be sure to provide specific examples for each practice of exemplary leadership. How will you recognize the.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the discounted payback period for the project

What is the discounted payback period for the project and how does it compare to what the company is hoping for? (Use discount rate of 12%)

  Discuss the deferred consideration

Discuss the difference between deferred consideration and contingent consideration. Pelhams Ltd and Selbourne Ltd as at 30 June 2019.

  What is the annual operating cash flow

A company is considering investing in a piece of machinery which will cost $550,000. It will provide an additional $160,000 in sales each year and its annual operating expenses are expected to be $52,000. The machine will be depreciated on a straight..

  Explain the accumulated depreciation lines and inventories

Explain the Accumulated Depreciation lines and Inventories? Noncurrent assets: Long-term loan re Accumulated depreciation (360,000+480,000- 400,000+24,000)

  Amount of money needed to pay the student expenses

The assumption is that payments are made into the college fund each year (as an ordinary annuity), and payments are withdrawn from the fund

  Enter the given transactions in the ledger of a

Enter the given transactions in the ledger of A. Baker and prepare a trial balance at 31 May, together with a calculation of the profit for the month and a statement of financial position at 31 May.

  Which one of the statements is not a purpose for journal

Which one of the statements is not a purpose for the journal? To show a complete transaction in one place./ To show increases and decreases in accounts

  What are between current vs long-term liabilitie

How to report current liabilities for those accounts that need not pay interests whereas those interests must be paid? If you are a manager

  Approach life-cycle

Participation budget, bottom-up approach Life-cycle budgeting, input/output approach

  Cost of food sales under perpetual inventory system

Calculate the cost of food sales under a perpetual inventory system for the month ended March 31 given the following information:

  Use of the straight-line depreciation method

Williams Company purchased a machine costing $30,500 and is depreciating it over a 10-year estimated useful life with a residual value of $3,500. How much is the year 8 depreciation expense assuming use of the straight-line depreciation method?

  What the amount of the unrealized gain reported

What the amount of the unrealized gain reported by Tg-9dF Company in its 2023 income statement related to the Spy Corporation stock would be equal to

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd