Related to business of? life-saving for your first? house

Assignment Help Financial Management

Reference no: EM131924777

(Related to The Business of? Life: Saving for Your First? House) ? (Future value) You are hoping to buy a house in the future and recently received an inheritance of ?$24,000. You intend to use your inheritance as a down payment on your house.

a. If you put your inheritance in an account that earns 7 percent interest compounded? annually, how many years will it be before your inheritance grows to ?$33,000?

b. If you let your money grow for 10.5 years at 7 percent?, how much will you? have?

c. How long will it take your money to grow to ?$33,000 if you move it into an account that pays 33 percent compounded? annually? How long will it take your money to grow to ?$33,000 if you move it into an account that pays 11 percent??

d. What does all this tell you about the relationship among interest? rates, time, and future? sums?

a. If you put your inheritance in an account that earns 7 percent interest compounded? annually, how many years will it be before your inheritance grows to ?$33,000?

__ years ? (Round to one decimal? place.)

Reference no: EM131924777

Questions Cloud

Describe point estimate and normal probability distribution : Describe the point estimate, normal probability distribution. Find standard normal probability distribution in detail (One double space typed page).

Evaluates the ethical responsibilities of the retailers : Please prepare a report that evaluates the ethical responsibilities of the retailers who buy goods from the Indian factories

What is the difference in the annual inflation rates : What is the difference in the annual inflation rates for the United States and Russia over this period?

How communication of your goals to stakeholders can impact : Evaluation of the barriers to the goals of implementing telemedicine. How communication of your goals to stakeholders can impact achieving your goals?

Related to business of? life-saving for your first? house : You are hoping to buy a house in the future and recently received an inheritance of ?$24,000. You intend to use your inheritance as a down payment on your house

What is the motivation for an organization : What is the motivation for an organization? What are the real benefits if any? Would you pursue this for your organization some day? Why?

The risk mitigation plan for health care : Loss of customers due to production outages caused by various events, such as natural disasters, change management, unstable software, and others.

What opportunities for policy-makers in ministry of health : What opportunities for policy-makers in the Ministry of Health do you think could help improve healthcare?

What is the current equilibrium price of the stock : The Satellite Building Company has fallen on hard times. If the required return for Satellite is 20 percent, what is the current equilibrium price of the stock?

User Account

All Pages