What amount must be invested today at an annual interest

Assignment Help Accounting Basics
Reference no: EM132821880

Question - You want to purchase a $540,000 machine 4 years in the future. The annual interest rate is 4.5%.You want to save this amount by putting aside an equal amount every month, which will be compounded monthly. What amount must be set aside every month?

What amount must be invested today at an annual interest rate of 4.5%, compounded monthly, if you want to purchase a $450,000 machine 4 years in the future?

Reference no: EM132821880

Questions Cloud

What is quality audit : What is a quality audit? What is a fixed price contract?
Calculate value at risk : Calculate Value at Risk at the 95% level for each market, using the actual distribution of returns, that is, the historical approach
How would textbook research respond to the most statements : How are issues related to reproductive justice addressed in the textbook research supported or refuted by the content in this video? Consider the textbook.
Hr performance issues and motivation : The relationship between the organization and its members can be greatly influenced by what motivates individuals to work.
What amount must be invested today at an annual interest : What amount must be invested today at an annual interest rate of 4.5%, compounded monthly, if you want to purchase a $450,000 machine 4 years in the future
Explain one potential challenge for each client : Post a brief description of the two clients whom you selected and whether each has a chemical (physical) or behavioral (psychological) addiction.
Describe ways to develop professionally in the field : Describe ways to develop professionally in the field. Describe how a mental health and wellness worker can coordinate care between providers in an integrated.
Describe three artificial intelligence applications : List and describe three artificial intelligence (AI) applications that can help to detect overstatements of revenues and expenses
Health care system : No other country in the world has a health care system like that of the United States.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare Journal Entries and General Ledger

PURCHASE FOODS FOR $71000.00 - Prepare Journal Entries, General Ledger, trial balance Income Statement and Balance Sheet

  What is the total amount due

The following information is provided on delivery invoice. What is the total amount due

  Compute basic and diluted earnings per share

On June 30, Ignatius issued 100,000 shares of $100 par 6% cumulative preferred stock. Ignatius has effective tax rate of 40%. Compute basic and diluted earnings

  What is ibm price to earnings ratio

What is IBM's price to earnings ratio for 2015? (NOTE-use the TOTAL earnings per share assuming dilution

  Market rate at the date of issuance

The annual market rate at the date of issuance is 6%, and the bonds are sold for $165,523. What is the amount of the disc on these bonds at issuance?

  Calculate the yield to maturity for each given bond

Calculate the yield to maturity (YTM) for each bond. What relationship exists between the coupon interest rate and yield to maturity and the par value and market value of a bond? Explain

  The current ratio

A company has cash, $85,000; temporary investments, $30,000; net receivables, $60,000; and inventory, $350,000. Current liabilities are $300,000.

  Prepare a multiple-step income statement

Prepare a multiple-step income statement showing expenses by function. Assume that 100,000 common shares were outstanding during the year

  Determine the effect on net income and earnings per share

Issue 9%, 10-year bonds at face value for $2,565,000. Determine the effect on net income and earnings per share for these two methods of financing

  Determine alpha company''s net cash flows

Use this information to determine Alpha Company's Net Cash Flows from Investing Activities

  Prepare all entries required to properly record the sale

Amortization was recorded when interest was received by the straight-line method. Prepare all entries required to properly record the sale

  What is the percentage of the misstatement

What is the percentage of the misstatement in (a) to the reported income of $1,106 million? Round to the one decimal place.

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