You just won a lottery and your parents have always told

Reference no: EM13618441

You just won a lottery and your parents have always told you to plan for the future, so since you already have a well-paying job you decide to invest rather than spend your lottery winnings. The payment schedule from the lottery commission is $100,000 after taxes at end of year one and 19 more payments of exactly $100,000 after taxes in equal annual end-of-the-year deposits (i.e., the first of the next 19 deposits is one year from today) into your account paying 7% compounded annually. How much money will be in your account after the last deposit is made?

Reference no: EM13618441

Questions Cloud

A particular road vehicle weighs 4000 lb using the : a particular road vehicle weighs 4000 lb. using the quarter-car model determine a suitable value for the suspension

Urban travel times and distances are important factors in : urban travel times and distances are important factors in the analysis of traffic flow patterns. a traffic engineer in

The convection coefficient for the outside wall surface is : a particular house wall consists of three layers and has a surface area of 30 m2. the inside layer is 10 mm thick and

B calculate the standard deviation of the six x-values and : consider the following set of data. 18 11 29 45 60 25 83 16 106 61 121 5 a calculate the covariance of the set of data.

You just won a lottery and your parents have always told : you just won a lottery and your parents have always told you to plan for the future so since you already have a

Construct a scatter diagram of the given bivariate data do : consider the following bivariate data.point a b c d e f g h i jx 3 3 2 6 3 7 2 2 6 6y 7 1 5 6 3 7 5 7 2 5a construct a

A firm has net working capital of 510 net fixed assets of : a firm has net working capital of 510 net fixed assets of 2256 sales of 6200 and current liabilities of 820. how many

Find the 95 confidence interval for the difference between : find the 95 confidence interval for the difference between two means based on this information about two samples.

Ace inc incurred depreciation expenses of 21900 last year : ace inc. incurred depreciation expenses of 21900 last year. the sales were 811400 and the addition to retained earnings

User Account

All Pages