Working in a business to learn the ropes

Assignment Help Financial Management

Reference no: EM13849373

You have a two children, A and B. Child A is not going to college but is working in a business to learn the ropes. Child A plans on opening a business someday. Child B is attending college. You put a certain amount of money into an account. From this account, Child B will receive $2,000 per month for the next four years. Whatever is left at that time will go to Child A to help start the business. You want Child A to receive $96,000 at that time. The account pays 7% annually, compounded monthly. How much money do you need to start the account? Show your work.

Reference no: EM13849373

Questions Cloud

Environment surrounding embryonic stem-cell research : Darwin and Thunderbird share office and lab space, equipment, and employees. Because of ethical concerns and the regulatory environment surrounding embryonic stem-cell research, both Darwin and Thunderbird were unsuccessful in gaining significant ..

Describe how performance and quality measures : Describe how performance and quality measures are aligned to an organization's mission, vision, and strategic plan in general. Then, describe how the measures are aligned with the mission, vision, and strategic plan of your organization

Network the critical path is the longest path : In a __________ network the critical path is the longest path through the network.

Budget-constrained and profit-conscious style of evaluation : Understand how MAS can be are used to inform performance evaluation in organisations - evaluate the effectiveness of performance evaluation systems in organisations, both from a technical and behavioural perspective

Working in a business to learn the ropes : You have a two children, A and B. Child A is not going to college but is working in a business to learn the ropes. Child A plans on opening a business someday. Child B is attending college. You put a certain amount of money into an account.

Build a decision tree by applying hunts algorithm : build a decision tree by applying Hunt's algorithm

Analysis of the ratios calculated : Assess Wal-Mart, Stores Inc. concerning liquidity, solvency, profitability, and stock performance as of January 31, 2015. For each area, you should calculate the ratios and provide an analysis of the ratios calculated. Include historical stock pri..

What information could you share with this parent : What information could you share with this parent that would educate her about the importance and the safety of vaccinations? How would you provide this information

What price should newnovatel sell bonds : Newnovetel cellular is issuing bonds pay no interest but can be converted into $9K at maturity in 17 years. To price them competitively, it was determined they should yield eight percent compounded annually. At what price should Newnovatel sell these..

User Account

All Pages