(Answered) Starting next year you need 20000 annually for four years

Finance

Starting next year, you need $20,000 annually for four years to complete medical school. (One year from today, you will withdraw the first $20,000.) Your parents deposit an amount today in an investment paying 8.5% annual interest, which will provide the needed $20,000 disbursements. How much will be in the account immediately after you make the first withdrawal?

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92785483
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Please help me study for a test by helping me with this

Please help me study for a test by helping me with this question. Please show work/formulas used and accuracy really matters. Thanks. What is the APR on a loan from American Pride Payday Loan Store? You've borrowed $200, ...

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 ...

How to collect data and turn it into information useful for

How to collect data and turn it into information useful for controlling the project. There are five formats in which the majority of data collected would eventually exist. Briefly describe each of the five formats.

What is the present value of a 3-year annuity of 170 if the

What is the present value of a 3-year annuity of $170 if the discount rate is 5%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Discuss hsbc ring-fencing strategy and the setting up of

Discuss HSBC ring-fencing strategy and the setting up of HSBC UK?

The stock of business adventures sells for 65 a share its

The stock of Business Adventures sells for $65 a share. Its likely dividend payout and end-of-year price depend on the state of the economy by the end of the year as follows: Dividend Stock Price Boom $2.40 $73 Normal ec ...

What are the ways that it can help comply with legal

What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?

Charles is considering investing in treasury bills he

Charles is considering investing in Treasury bills. He requires a 2.7 percent annualized return on a six-month Treasury bill that has a par value of $10,000. The price Charles would be willing to pay for this T-bill is h ...

What are the different types of survey research error and

What are the different types of survey research error and describe an example of each.

Q1 you need a loan to purchase new equipment the loan will

Q1. You need a loan to purchase new equipment. The loan will be paid off over 12 years with payments made at the end of every quarter. If the stated annual rate is 07.00% and quarterly payments are $715, what is the loan ...

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