Question you need to accumulate 115557 for your sons, Ask an Expert

Finance

Question: You need to accumulate $115,557 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 7 years. The savings account pays 5.00 percent per year, compounded annually. How much will each annual payment be?

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92602991

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Assume now that you are an active investor and that your

Assume now that you are an active investor and that your research suggests that an investment in Disney will yield 12.5% a year for the next 5 years. Based upon the expected return of 9.95%, you would ¤Buy the stock ¤Sel ...

Question - comparing aprs james sprater of grand junction

Question - Comparing APRs James Sprater of Grand Junction, Colorado, has been shopping for a loan to buy a used car. He wants to borrow $18,000 for four or five years. James' credit union offers a declining-balance loan ...

What is the fundamental difference between the factors that

What is the fundamental difference between the factors that make up the Task Environment (sometimes called the Micro-Marketing Environment) and the Broad Environment (sometimes called the Macro-Marketing Environment). Hi ...

In 1895 the first putting green championship was held the

In 1895, the first Putting Green Championship was held. The winner's prize money was $230. In 2016, the winner's check was $1,430,000. a. What was the percentage increase per year in the winner's check over this period? ...

Conventional corporation is evaluating a capital budgeting

Conventional Corporation is evaluating a capital budgeting project that will generate $600,000 per year for the next 10 years. The project costs $3.6m and their required rate of return is 11%. Should the project be purch ...

A client has identified two annuities that are available

A client has identified two annuities that are available for purchase, The first annuity pays $1,000 at the end of each month over a 3-year period at a nominal rate of 13% p.a. The second annuity pays $3,000 at the end o ...

Fresh water inc sold an issue of 16-year 1000 par value

Fresh Water, Inc. sold an issue of 16-year $1,000 par value bonds to the public. The bonds have a 7.59 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is ...

What are some methods a company use to ensure the entire

What are some methods a company use to ensure the entire organization understands and is involved with promotions that include their brand image? Can you share examples?

Old xyz corp has total assets of 1000000 and a debt ratio

Old XYZ Corp has total assets of $1,000,000 and a debt ratio of 30%. Currently it has sales of $2,500,000, total fixed costs of $1,000,000, and EBIT of $50,000. If XYZ pays 6% interest on debt, what is XYZ's ROE?

What is the yield to maturity ytm on a 5-year 1000 bond

What is the yield to maturity (YTM) on a 5-year, $1,000 bond that pays annual payments of $100 that has a current value of $1,112? (rounded to 2-digits)

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