(Answered) Future value of annuity michelle is attending college has a

Economics

Future Value of Annuity. Michelle is attending college, has a part-time job, and lives at home. Michelle wants to prepare for the possibility that she may have to move depending on job opportunities after graduation. Michelle decides decides to start a "relocation fund". Michelle has found a conservative mutual fund that has averaged 12% annual interest over the past several years. If Michelle invests $160 per month, how much could she potentially earn in 5 years? Please show work please.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92478987
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Economics

Supposenbsppa02pa02nbspandnbsppb04pb04ifnbspanbspandnbspbnbs

Suppose P(A)=0.2 P(A)=0.2 and P(B)=0.4 P(B)=0.4.If A and B are disjoint, what is the probability that A or B occurs?P(A∪B)= If A and B are independent, what is the probability that A or B occurs?P(A∪B)=

Imposing a tariff leads to the existence of two deadweight

Imposing a tariff leads to the existence of two deadweight triangles, which are the Consumption distortion and Production distortion losses. It is easy to understand why consumption distortion constitutes a loss for soci ...

Explain why the purchase and sale of used goods and of

Explain why the purchase and sale of used goods and of financial assets are not included in the calculation of GDP even though transactions in these items amount to billions of dollars daily.

What are the main things to remember about elasticity

What are the main things to remember about elasticity, supply and demand, tax incidence, government controls on the market, and economic theories?

Global poverty is an international issue other countries

Global poverty is an international issue. Other countries are inclined to look to the U.S. with its great wealth to take an active role in assisting poor nations. People here spend money trying to counter baldness while ...

What are the key principles and tenets that any educated

What are the key principles and tenets that any educated person should know regarding the science of economics and their applicability in the world today?

You are given the sample mean and the population standard

You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. A random sample of 44 gas grills has a mean price of ...

Has globalization increased or decreased social and

Has globalization increased or decreased social and economic disparities around the globe? Can you please provide details.

Loan applicants whose credit score is less than 600 default

Loan applicants, whose credit score is less than 600, default on a loan, either in a minor or major way, about 10% of the time in a certain regional market. A random sample of 8 applicants in this market with credit scor ...

A manufacturer claims that their calculators are 6800

A manufacturer claims that their calculators are 6.800 inches long. A random sample of 39 of their calculators finds they have a mean of 6.812 inches with a standard deviation of 0.03 inches. At α=0.08, can you support t ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert