How much will you need to deposit into your account

Assignment Help Financial Accounting
Reference no: EM132440515

Your aunt loans you $15,300 to help pay for your education. She charges you simple interest of 4% per year. What will you pay your aunt if you pay back the loan at the end of 5 years?

Suppose you will need $9,000 in 12 years. If your bank compounds interest at an annual rate of 6%, how much will you need to deposit into your account 1 year(s) from now to reach your goal? Enter your answer rounded to two decimal places.

Reference no: EM132440515

Questions Cloud

HC2121 Comparative Business Ethics and Social Responsibility : HC2121 Comparative Business Ethics and Social Responsibility Assignment Help and Solution, Holmes Institute - Assessment Writing Service
What discount rate should be assigned to project : The firm is currently considering a project that has a bet os 1.03 and a project life os 6 years. What discount rate should be assigned to this project?
Discuss the media literacy journal entries : The First Amendment protects (almost) anything that was published in literature, movies, and other works of art - even descriptions and depictions of actions
Problem regarding the debt classifications : Presented below are four different situations related to Mckee plc debt obligations. Mckee's next financial reporting date is December 31, 2018.
How much will you need to deposit into your account : How much will you need to deposit into your account 1 year(s) from now to reach your goal? Enter your answer rounded to two decimal places.
Prepare in journal form the entries necessary to record : Embossing Corporation issued 32,000 shares of its $1 par value common stock in exchange for land that had a fair market value of $200,000.
Explain and evaluate Libertarianism : Use the Criteria of Adequacy to compare any two theories of mind (such as Cartesian Dualism vs. Identity Theory). Which do you think is the best theory? Why?
Article analysis on signal detection theory : Article Analysis on Signal Detection Theory - a summary of each of the journal articles and Your thoughts and perspectives regarding the concepts covered
General ledger and an unadjusted trial balance : Need assistance in posting to a general journal, General Ledger and an unadjusted trial balance for the following:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the amount of dougs deductible expenses

Doug incurred and paid the following expenses during the year : $50 for a ticket for running a red light while he was commuting to work,  $100 for a ticket for parking in a handicapped parking space, Calculate the amount of Doug's deductible expenses

  Prepare the statements in accordance to requirements

Discuss whether the non-disclosure of information about operations in Pakistan and Nigeria would be material and prepare and analyse the statements in accordance to the requirements of AASB 101

  Prepare a consolidation worksheet

How would the investment in Hobbes Corporation at the end of 2016 and the elimination entries be different if Calvin Inc. only owned 80% of Hobbes Corporation - Using the information reported below for Calvin Inc. and Hobbes Corporation, a wholly-..

  Create comprehensive work programs for the inventory

Coca Cola Audit Report Program- Create comprehensive work programs for the Inventory/ Warehousing. Include in this summary specific financial information gleaned from the current Form 10-K used to perform an analysis of work.

  Show the journal entries on 1 jan x1

Show the journal entries on 1 Jan x1, 30 June x1, 30 June x2, 31 Dec x2 to record the transactions (no narrations required). The year end is 30 June.

  Which inventory costing method assigns

Which inventory costing method assigns the cost of the most recent items purchased to the ending inventory balance?

  Uses a multicolumn purchases journal

Minn-Dak Growers Ltd. uses a multicolumn purchases journal. In recording a particular invoice the bookkeeper enters the correct amount of $670 in the Accounts Payable Cr. column and incorrectly enters $620 in the Purchases Dr. column. How will this e..

  Which account would theo prefer the most

Based on the comparison of semi-annual return (%), which account would Theo prefer the most and which one the least? Explain.

  Coops consulting company

Clint Cooper started a consulting business, Coops Consulting Company in December 2007. He found out that you have been taking an accounting course and has asked you for assistance in preparing the financial information for his banker who has asked fo..

  Segmented income statement in the contribution

segmented income statement in the contribution format.fausnaught corporation has two major business segments -retail

  Explain the components and equation for calculation

A company purchased a truck for $35,000 on January 1, 2013. The truck is estimated to have a useful life of four years and an estimated salvage value of $1,000. Assuming that the company uses straight-line depreciation, what is the depreciation expen..

  What action can you take in the futures market to hedge

What action can you take in the futures market to hedge any adverse movements in bond yields and prices until you actually can buy the bonds? Will you be long or short? Why?

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