User Account

All Pages

What is the balance of Albert

Assignment Help Accounting Basics
Reference no: EM132461389

Problem - Mr. Mudd gives each of his children $2000 to invest as part of a friendly family competition. The competition will last 10 years. The rules of the competition are simple. Each child can split up his or her $2000 into as many separate investments as they please. The children are encouraged to do their research on types of investments. The initial investments made may not be changed at any point during the 10 years; no may be added and no money may be moved. Whichever child has made the most money after 10 years will be awarded an additional $10,000.

Performance of investments over the course of the completion:

Albert - $1000 earned 1.2% annual interest compounded monthly; $500 lost 2% over the course of the 10 years; $500 grew compounded continuously at rate of 0.8% annually.

Marie - $1500 earned 1.4% annual interest compounded quarterly; $500 gained 4% over the course of 10 years.

Hans- $2000 grew compounded continuously at rate of 0.9% annually.

Max - $1000 decreased in value exponentially at a rate of 0.5% annually; $1000 earned 1.8% annual interest compounded biannually.

Required -

1. What is the balance of Albert's $2000 after 10 years?

2. What is the balance of Marie's $2000 after 10 years?

3. What is the balance of Hans's $2000 after 10 years?

4. What is the balance of Max's $2000 after 10 years?

5. Who is $10,000 richer at the end of the competition?

Reference no: EM132461389

Questions Cloud

Determine the raymond financial services : Determine the Raymond Financial Services,Raymond should have reported an accrued liability on its December 31, 2021, balance sheet
Calculate the cost per equivalent unit of direct material : Annapolis uses the weighted-average process costing method. Use this information to calculate the cost per equivalent unit of direct material for month of March
Report on atopic in management : Report on atopic in management - What key factors contributed to Jordan's success in business and What was Michaels Management Style
Same technology and equal endowments of labour : In a two country model with two goods and two factors, both countries have the same technology and equal endowments of labour.
What is the balance of Albert : Mr. Mudd gives each of his children $2000 to invest as part of a friendly family competition. What is the balance of Albert's $2000 after 10 years
Effects of a price floor on agricultural goods : Draw the market for corn and be sure to label carefully and completely the axes, curves, and equilibrium price and quantity.
What is the book value of the computer system : What is the adjusting entry to record the January 31 monthly deprecation expense using the straight-line method of depreciation?
Problem - Accounts Receivable Vs Accounts Payable : Problem - Accounts Receivable Vs Accounts Payable. Which of the above four accounts payable would you select as the most important to confirm
Derive intertemporal budget constraint : Suppose that this consumer gets 2 units of income in the first period and 4 units in the second period.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Record the entry for closing revenue and expense account

On December 31, 2016, Ditka Inc. had Retained Earnings of $284,800 before its closing entries. Record the entry for closing revenue and expense account.

  Tyrene products manufactures recreational equipment one of

tyrene products manufactures recreational equipment. one of the companys products a skateboard sells for 35. the

  What was your realized return

You bought a stock one year ago for $51.34 per share and sold it today for $57.68 per share. What was your realized return

  Difference between a static budget and a flexible budget

What is the difference between a static budget and a flexible budget and an example of a well-known company that might use a static budget

  Sandi scott obtained a patent on a small electronic device

sandi scott obtained a patent on a small electronic device and organized scott products inc. to produce and sell the

  Major branches of philosophy and identify the importance

Identify and explain three major branches of philosophy and identify the importance of each to an accountant point of view

  Determine the equivalent units for june

Determine the total cost of ending work in process inventory and the total cost of units transferred to the Bottling Department

  Discuss and analysis of direct costs

Predict the main costs (e.g. labor cost, material cost) associated with the production of VectorCals drone navigation system.Discuss and Analysis of Direct Cost

  Discuss the legal amount of the mortgage

The cost of the points would be added to the legal amount of the mortgage

  Question 1 determine the quantity of framing glass and

picture pretty manufactures picture frames. sales for august are expected to be 10000 units of various sizes.

  On may 1 company reacquired 2000 shares of its own 2 par

on may 1 company reacquired 2000 shares of its own 2 par value stock for 100000 cash. on june 30 800 of the treasury

  Organization information system

If you had to select one of these categories of systems goals as the most important to the effective operation of an organization's information system, which one would you choose? Explain the reasons for your choice.

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