What was the future worth of ayn deposits

Reference no: EM13965591

After receiving an inheritance of $25,000 on her21st birthday, Ayn Rand deposited the inheritance"ina savings account with an effective annual interestrate of 6%. She decided that she would make regu-lar deposits on each future birthday, beginning with$1000 on her 22nd birthday and then increasing theamount by $200 in each following year (i.e., $1200on her 23rd birthday, $1400 on her 24th birthday, etc.).What was the future worth of Ayn's deposits on her56th birthday?

Reference no: EM13965591

Questions Cloud

What is the percent change in productivity : Aztec Furnishings makes hand-crafted furniture for sale in retail stores. A new process has increased production from 75 units to 84 units per shift. The number of defective items for the old process was two per shift and the defects for the new proc..

What is the total productivity : Average costs to patients (MEd Lab revenues) is $124 fore Med Lab servies. Labor costs average $18 per patient, materials average $32, outsource expenses average $19 per patient, and overhead is estimated to be $27 per patient. What is the total prod..

What is the productivity change : Last year's monthly production averaged 19,000 units using one 8 -hour shift and a five day week. The defect rate was 12%. Changes to the production methodology has resulted in a 23, 000 monthly production average with an 8.5 % defect rate. What is t..

Understand the concept of sliding windows : Moe wants to understand the concept of sliding windows. Explain their purpose to Moe. When should networks use large sliding windows? When should they use smaller sliding windows? What could happen if small data transfers occur in a large sliding win..

What was the future worth of ayn deposits : She decided that she would make regu-lar deposits on each future birthday, beginning with$1000 on her 22nd birthday and then increasing theamount by $200 in each following year (i.e., $1200on her 23rd birthday, $1400 on her 24th birthday, etc.).Wh..

Discuss the social and ethical implications of your topic : discuss the social and ethical implications of your topic as it applies to equity and social justice and F, and develop your social logical imagination. Once you have a question pick up series or theories that apply to your question present historic..

Develop a tax structure : Is it possible to develop a tax structure that serves the needs of the people and at the same time is fair to all?

Explaining how the effective strategic plan was beneficial : When organizations' research and development (R&D) departments begin to strategize, they must consider numerous aspects to the process. For instance, Coulter (2013) details that functional strategies may be innovative or imitative. Prepare an analysi..

Preparing the annual budget : Sales managers are developing estimates of next year's demand for the company's newest line of LCD televisions. This information will be used in preparing the annual budget.

User Account

All Pages