Problemyou placed 3364 in a savings account today that, Ask an Expert

Finance

Problem:

You placed $3,364 in a savings account today that earns an annual interest rate of 15 percent compounded annually.

Required:

Question: How much will you have in this account at the end of 29 years? Assume that all interest received at the end of the year is reinvested to the next year.

Note: Provide thorough explanation of the given question.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174377

Have any Question?Write your Review or question?

Related Questions in Basic Finance

A young couple decide to take advantage the current

A young couple decide to take advantage the current first-time home buyer credit and buy a new house. With their combined income, they can afford to make a maximum of $800 monthly payment. With their credit history, they ...

Skyco corporation is considering a project with the

SkyCo Corporation is considering a project with the following expected NOCF's: Year NOCFt 1 $390,000 2 $410,000 3 $385,000 A) If the firm's WACC is 12.1%, and the project costs $850,000, what is the NPV? B) What is the M ...

You make 6000 annual deposits into a retirement account

You make $6,000 annual deposits into a retirement account that pays 10.3 percent interest compounded monthly. How large will your account balance be in 35 years?

Payments of 1400 in 1 year and another 2300 in 5 years to

Payments of $1,400 in 1 year and another $2,300 in 5 years to settle a loan are to be rescheduled with a payment of $1,150 in 8 months and the balance in 16 months. Calculate the payment required in 16 months for the res ...

A factory costs 800000 you reckon it will produce an inflow

A factory costs $800,000. You reckon it will produce an inflow after operating costs of $170,000 a year for 10 years. If the opportunity cost of capital is 14%, what is the net present value (NPV) of the factory? NPV=PV ...

Financial management how can a financial manager use the

Financial Management How can a financial manager use the time value of money(TVM) concept to accomplish this goal?

What are the effects of coupon rate to the sensitivity of a

What are the effects of coupon rate to the sensitivity of a bond price and to changes in interest rates?

What is marketing discipline what is most peoples

What is marketing discipline? What is most people's perception of marketing discipline? Name an organization that has done a great job marketing. What did they do to make you feel this way?

On january 11998 the total assets of the mccue company were

On January 1,1998, the total assets of the McCue company were $270 million. The first present capital structure, which follows, is considered optimal. Assume that they have no short-term debt. Long-term debt ...

Suppose a firm uses sales teams to market their products

Suppose a firm uses sales teams to market their products. For example, a construction equipment manufacturer may assign three sales agents to a team so each team member can specialize in particular product functions (e.g ...

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 Basic Finance Expert