About fund and interest, Amy Monroe wants to create a fund

About fund and interest

Reference no: EM13905233

Amy Monroe wants to create a fund today that will enable her to withdraw $27,260 per year for 7 years, with the first withdrawal to take place 5 years from today. If the fund earns 9% interest, how much must Amy invest today? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Reference no: EM13905233

Questions Cloud

What is lowest frequency of transverse vibrations in wire : A wire of density 9gm/cm^3 is stretched between two clamps 100cm apart subjected to an extension of 0.05 cm. What is the lowest frequency of transverse vibrations in the wire, assuming the Young's modulus to be 9x10^11 dynes/cm^ ?

Case of implementing self-managed teams : What type of changes a traditional organization would need in its Structure, Training practices and Reward System in case of implementing self-managed teams?

Is the wave traveling in the +x or -x direction : The displacement (in meters) of a wave is y= 0.26 sin (Π*t-3.7 Π *x), where t is in seconds and x is in meters. Is the wave traveling in the +x or -x direction?

Discuss the legal relevance of the phrase a bundle of stick : Two truck drivers for a moving company, while loading a desk, found $1000 that had fallen out of the desk. They knew who the owner was but instead of returning it they decided to keep the money and split it evenly. Discuss the legal relevance of t..

About fund and interest : Amy Monroe wants to create a fund today that will enable her to withdraw $27,260 per year for 7 years, with the first withdrawal to take place 5 years from today. If the fund earns 9% interest, how much must Amy invest today?

Determine how taxpayer money can help local economies : Explain the legitimacy for local and national government agencies to use taxpayer money to assist small companies in the effort to export. Determine how taxpayer money can help local economies.

Discuss the impact of velocity on the state of stress : Discuss the impact of velocity on the state of stress during static failure analysis for a fixed position of input. Is there a practical significance behind considering the COM of the rider offset from point E? What differences do you expect to ob..

The daily federal statutory amount : Valentino is a patient in a nursing home for 49 days of 2015. While in the nursing home, he incurs total costs of $19,404. Medicare pays $11,642 of the costs. Valentino receives $21,344 from his long-term care insurance policy, which pays while he is..

Determine the direction cosines for this vector : Determine the direction cosines for this vector. These are cos[α], cos[β] and cos [γ], where α is the angle between A and x , where β is the angle between A and y, and γ is the angle of A and z.

User Account

All Pages