Automatic savings plan-right after the last contribution

Assignment Help Financial Management
Reference no: EM13846882

You enter into an automatic savings plan with RBC where $1250 is deducted from your paycheck at the end of each quarter starting on March 31, 2014 (first payment) to December 31, 2019 (last payment). If the account pays 8% (APR, monthly compounded), how much money is in the account on December 31, 2019 (right after the last contribution)?

Show all work please

Step by step

Does not use excel please?

Explain the question with words not just numbers

Reference no: EM13846882

Questions Cloud

Write an essay on positive and negative social behavior : Write an essay of 750-1,000 words on one of the following modules- Attitudes and Social Cognition, Social Influence and Groups, Prejudice and Discrimination and Positive and Negative Social Behavior
What are cognitive distortions : What are cognitive distortions - Create a scenario that describes an individual who is suffering from cognitive distortions. Make the scenario as detailed and realistic as possible.
Investment banker with starting annual salary : Sarah started working as an investment banker with a starting annual salary of $84,000 on January 1, 2014. She receives her salary in equal monthly instalments at the end of each month. Assuming she will continue to contribute exactly 5% every month ..
Analyze the conflicts of interest that can arise between own : analyze the conflicts of interest that can arise between owners and managers
Automatic savings plan-right after the last contribution : You enter into an automatic savings plan with RBC where $1250 is deducted from your paycheck at the end of each quarter starting on March 31, 2014 (first payment) to December 31, 2019 (last payment). If the account pays 8% (APR, monthly compounded), ..
What is the effective annual rate bank used : Lloyd Blankfein would like to supplement his low pension paid by his employer Goldman Sacks. His personal banker Jamie Dimon told him that he could pay $1,000 every month for ten years (making 10 × 12 = 120 payments at the end of each month until her..
Prepare summary journal entries in all appropriate funds : Prepare summary journal entries in all appropriate funds. Prepare alternative journal entries to re?ect how the transactions would be recorded in the township'sgovernment-wide statements.
Ratios measures operating performance and source of cash : Which of the following is a source of cash? Information that can make a difference to the decision at hand is considered to be. Which of the following increases cash. Which of the following ratios measures operating performance?
Write about alcoholic anonymous meeting : It is an Experiential Paper, Write about Alcoholic Anonymous meeting. You will be an observer. Story can be made up

Reviews

Write a Review

Financial Management Questions & Answers

  Bond is bought to yield convertible semi-annually

Find the price of a $1000 par value 10-year bond with coupons at 8.4% convertible semi-annually, which will be redeemed at $1050. The bond is bought to yield 10% convertible semi-annually for the first five years and 9% convertible semi-annually for ..

  What was the actual average annual percentage rate

In exactly 15 months a bill of $21,200 is due. Today you deposit money such that if the account earns a target rate of return of 8.90% per annum, compounded monthly, the bill is perfectly financed. No other deposits or withdrawals have been made. You..

  Great depression and the financial crisis

Identify the differences between the United States experiences during the Great Depression and the financial crisis of 2007-2009 (Check all that apply).

  Making the deposit in saving account

Stuart needs $60,000 as a down payment for a house 5 years from now. He earns 3% per year on his savings. Stuart can either deposit one lump sum today for this purpose or he can wait a year and deposit a lump sum. How much additional money must he de..

  Primary goal of corporate financial management

The primary goal of corporate financial management is to maximize the:

  Which furnace should si choose-annual maintenance costs

Springfield Ironworks (SI) recently had their furnace break down and they need to quickly purchase a new one to minimize the disruption in their production. They can either choose a high quality furnace (H) that costs $130,000 with $4,000 of annual m..

  Identifies and analyzes the most important external

complete the external environmental scan for your organization.nbspperform an internal competitive environmental scan

  What does consumer protection have to do with that crisis

According to the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010). a)Do you think it will prevent a financial crisis like the one in 2007-08? What does consumer protection have to do with that crisis? What happened to banks that were ..

  Break-even level of earnings before interest and taxes

Kelso Electric is debating between a leveraged and an unleveraged capital structure. The all equity capital structure would consist of 40,000 shares of stock. The debt and equity option would consist of 25,000 shares of stock plus $250,000 of debt wi..

  Problem 1budgets in managerial accountingsantiagos salsa is

problem 1budgets in managerial accountingsantiagos salsa is in the process of preparing a production cost budget for

  Costs and benefits of becoming a publicly traded firm

What do you think are the most important costs and benefits of becoming a publicly traded firm? What questions would you ask before advising whether or not an entrepreneur’s firm should go public?

  What is the after-tax cost of debt for burly

Burly Owl Inc. is going to purchase a new machine that will cost $200,000. The machine has a useful life of 4years and falls into the 3-year property class for the depreciation purposes. The IRS MACRS schedule for the four years is 1)33.33% 2)44.44% ..

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