Accumulate money for his down payment

Assignment Help Financial Management
Reference no: EM131528891

John plans to buy a vacattion home in 6 years from now and wants to have saved $98.97 for a down payment, How much money should he place today in a saving account that earns 9.79 percent per year (compounded daily ) to accumulate money for his down payment?

Round anwer to two decimal places.

Reference no: EM131528891

Questions Cloud

Find the monthly payments and the total interest for loan : Find the monthly payments and the total interest for Loan A.
Compute next years financial plan and operational budget : Your Key Assignment Draft is designed to help you prepare for the presentation in Phase 5. Compute next year's financial plan and operational budget.
What are your personal plans regarding project management : What part of project management do you find the easiest to do or to understand? The hardest? What are your personal plans regarding Project Management
Ask a question about climate change : Ask a question about climate change, and answer it.
Accumulate money for his down payment : How much money should he place today in a saving account that earns 9.79 percent per year (compounded daily ) to accumulate money for his down payment?
What is the cost of each alternative : Penn Corp. is analyzing the possible acquisition of Teller Company. What is the cost of each alternative?
Ways that employee layoffs can affect other employees : Determine ways that employee layoffs can affect other employees in the organization. Examine two additional ways that employee layoffs can affect organization
What is the cost to fly-by-night of each alternative : What is the cost to Fly-By-Night of each alternative? What is the NPV to Fly-By-Night of each alternative?
Compute current market value of equity for your corporation : Calculate the current market value of equity for your corporation, using the three-year history and provided Excel template.

Reviews

Write a Review

Financial Management Questions & Answers

  Payment will go toward repayment of principal

What percentage of the 2nd monthly payment will go toward the repayment of principal?

  Foreign currency contract

A foreign currency contract allowing the holder (buyer) the right to purchase British Pounds 32,500 on or before March 167, 2016 at a price of $1.5 Per British Pound is a.

  The effective corporate tax rate

A project requires an initial investment of $100,000 and is expected to produce a cash inflow before tax of $27,000 per year for five years. Calculate project NPV for each company. What is the IRR of the after-tax cash flows for each company?  What d..

  Firm is developing the analysis for a new bio-diesel plant

Your firm is developing the analysis for a new bio-diesel plant in Carthage. This plant will use new technology to convert waste material from local poultry integrators and fast food restaurants into commercial grade diesel fuel. The technology is ne..

  Review the financial statements of tesco plc

Explain the essence of each ratio that you have selected and briefly explain their importance - give a very brief background information about Tesco Plc, the current issues and their position in the retail industry

  What risk adjusted rate of return is appropriate

Super Muench wants to know what risk-adjusted rate of return is appropriate for investments in its retail outlets.

  Estimating the effects of estate tax rates in pamplovia

Pamplovia raised its estate tax rate from 30% to 50%.- How could you go about estimating the effects of estate tax rates in Pamplovia on the magnitude of bequests?

  What is future value in seven years-compounded annually

What is the future value in seven years of $1,200 invested in an account with an APR of 8 percent, compounded annually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.

  Determine the monthly payment

John arranges for $28,575 of home improvement work to be done on his house, financed with a monthly payment for three and a half years. He calculated that he would pay a total interest of $1837. Determine the monthly payment. Show work/explanation.

  Acme is deciding where to invest

ACME is deciding where to invest. Project 1 will produce cash flows of $52,000 a year for 6 years. Project 2 has cash flows of $48,000 a year for 8 years. If the interest rate is 15%, which project should ACME select and why?

  Balance sheet at the time of the acquisition

Hayden reported the following US$ balance sheet at the time of the acquisition: Determine the goodwill impairment loss, if any, to be recorded on 12/31/15.

  Define the type of derivative

Please select a current article on the use of derivatives by a company. Define the type of derivative used and the purpose of it use by the company? As well, do you feel the use of derivative instruments contributed to the financial crisis of 2008?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd