(Answered) You have decided to place 492 in equal deposits every month

Finance

You have decided to place $492 in equal deposits every month at the beginning of the month into a savings account earning 8.12 percent per year, compounded monthly for the next 15 years. The first deposit is made today. How much money will be in the account at the end of that time period?

Round the answer to two decimal places.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92511452
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

Suppose you expect to rent a house when you retire in 35

Suppose you expect to rent a house when you retire in 35 years. Today, rent for a 3 bedroom, 2 bathroom home costs $36,000 per year. You expect inflation to be 2% per year between now and when you die and that rent will ...

Grant technologies needs 300000 to pay its supplier grants

Grant Technologies needs $300,000 to pay its supplier. Grant's bank is offering a 210-day simple interest loan with a quoted interest rate of 11 percent and a 20 percent compensating balance requirement. Assuming there a ...

Case study - financial report analysisquestions -1 in

CASE STUDY - FINANCIAL REPORT ANALYSIS QUESTIONS - 1. In reading this case study, what is your first impression of the state of affairs with Pifco-Zen Chen Company Limited? 2. Is the company on the right track after you ...

Whipple corp just issued 320000 bonds with a coupon rate of

Whipple Corp. just issued 320,000 bonds with a coupon rate of 6.26 percent paid semiannually that mature in 25 years. The bonds have a YTM of 6.70 percent and have a par value of $2,000. How much money was raised from th ...

Estimate cost of capital for a 10-year project with a

Estimate cost of capital for a 10-year project with a market risk B=1.2. Assume expected market return is 10%.

A local attorney has unfortunately learned that he has been

A local attorney has unfortunately learned that he has been seriously conned by Bernie Madoff for many years. The attorney invested $400,000 with Madoff 18 years ago and had been led to believe that his annual return was ...

What beta measures by what mean do you calculate beta look

What beta measures? by what mean do you calculate beta? look for a company on the Web that your interested in and find what there beta is. Let the class know what company and what there beta means?

Exercisepronghorn inc decided to establish a petty cash

Exercise Pronghorn, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it establis ...

Why might a firm announcing it will borrow more be taken as

Why might a firm announcing it will borrow more be taken as a good news signal?

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?

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