Makes the deposit on that birthday

Assignment Help Financial Management

Reference no: EM131563423

Your grandmother has been putting $ 3000 into a savings account on every birthday since your first (that is, when you turned 1). The account pays an interest rate of 6%. How much money will be in the account on your 18th birthday immediately after your grandmother makes the deposit on that birthday?

The amount in the account upon your 18th birthday is ?

Reference no: EM131563423

Questions Cloud

As the number of securities in portfolio increases : As the number of securities in a portfolio increases:

Discount rate is used when calculating net present value : What discount rate is used when calculating net present value?

Decide to start saving for your retirement : You are 26 years old and decide to start saving for your retirement. How much will you have saved for? retirement?

Annual payment be if you sign up for this? mortgage : What will your annual payment be if you sign up for this? mortgage?

Makes the deposit on that birthday : How much money will be in the account on your 18th birthday immediately after your grandmother makes the deposit on that birthday?

What is the after-tax cost of interest expense : The corporation’s tax rate is 40%. What is the after-tax cost of interest expense?

What should the market value of the stock : What should the market value of the stock be if the required rate of return is 14 percent?

Effective annual interest rate on lending arrangement : What is your effective annual interest rate on the lending arrangement if you borrow $42 million immediately and repay it in one year?

What is equilibrium expected growth rate : Garth Manufacturing is expected to pay a dividend of 1.25 per share at the end of the year (D1 = $1.25). What is the equilibrium expected growth rate?

User Account

All Pages