Sally deposited 100 a month in her savings account for 24, Ask an Expert

Economics

Sally deposited $100 a month in her savings account for 24 months. For the next five years she made no deposits. What is the future worth in Sally’s savings account at the end of seven years, if the account earned 6% annual interest, compounded monthly?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91722737

Have any Question?Write your Review or question?

Related Questions in Business Economics

If a new technology in the us shale oil extraction could

If a new technology in the U.S. shale oil extraction could produce crude oil even more efficiently; at the same time, the U.S. federal government decided to subsidize people for electric car purchase, what would you expe ...

Suppose we have a simple society with only 2 people 1

Suppose we have a simple society with only 2 people. 1 person is rich and earns $100,000 per year. 1 person is poor and earns $25,000 per year a) What percentage of total income does the rich person earn? b) Now suppose ...

Use the following table to find thenbspsteady-state values

Use the following table to find the? steady-state values of the? capital-labor ratio and output if the? per-worker production function is y t = 2k t 0.3 . Saving rate (s) = 0.37 Depreciation rate = 0.04 population growt ...

Suppose you are going to receive 14100 per year for six

Suppose you are going to receive $14,100 per year for six years. The appropriate interest rate is 6.9 percent. a. What is the present value of the payments if they are in the form of an ordinary annuity? (Do not round i ...

1 what are the modern firm-based international trade

1. What are the modern, firm-based international trade theories? 2. Describe how a business may use the trade theories to develop its business strategies. Use Porter's four determinants in your explanation. 3. What is th ...

If all countries eliminated all barriers to immigration

If all countries eliminated all barriers to immigration, would global economic growth increase? Why or why not?

With smaller companies saving thousands and larger

With smaller companies saving thousands and larger companies saving billions through flexible manufacturing, if you are a discrete parts manufacturer seeking to be more lean, it is important to consider whether this migh ...

Assume that the hypothetical economy of mo has 8 workers in

Assume that the hypothetical economy of Mo has 8 workers in year 1, each working 1,500 hours per year (50 weeks at 30 hours per week). The total input of labor is 12,000 hours. Productivity (average real output per hour ...

In the summer of 2013 walt disney released the lone ranger

In the summer of 2013, Walt Disney released The Lone Ranger, starring Johnny Depp and produced by Jerry Bruckheimer. The film bombed at the box office: Worldwide, it earned about $245 million in revenue, well below the $ ...

A random sample ofnbsp87nbspeighth gradenbspstudents scores

A random sample of 87 eighth grade? students' scores on a national mathematics assessment test has a mean score of 279. This test result prompts a state school administrator to declare that the mean score for the? state' ...

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