Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 14. gordon freeman wants to have $32,000 in 5 year

14. Gordon Freeman wants to have $32,000 in 5 years in...

90.2K

Verified Solution

Question

Accounting

image
14. Gordon Freeman wants to have $32,000 in 5 years in order to purchase a new car (a) How much should he deposit today in an account earning 6.4%, compounded quarterly, to have the required amount in 5 years? (b) How much interest will be earned? (c) If he can only deposit $16,000 now, how short of $32,000 will he be? (d) Suppose he can deposit $16,000 now in account that compounds interest continuously, What interest rate would he need to accumulate the $32,000 in 5 years

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

P 14 Prove similarity Complete the proof that AGHJ AGIH 1 G 2 3 4...

Geometry
Q

#37 Let x = age in years of a rural Quebec woman at the time of her...

Basic Math
Q

After reviewing the data in the 2010 and 2016 “Status and Trends in the Education of...

Psychology
Q

1) Saturated liquid water at a pressure of 10 kPa is sent to a steam boiler...

Mechanical Engineering
Q

The following question is about the insulin-like growth factor 2 (Igf2) locus in mice.A homozygous...

Biology
Q

Suppose a person is a carrier for a genetic disorder. Which of the following phrases...

Biology
Q

nonument outside city hall has dimensions as shown in the figure below If one gallon...

Geometry
Q

Journalize the entries for the following transactions. Refer to the Chart of Accounts for exact...

Accounting
Q

Presented below is information related to equipment owned by Oriole SpA at December 31, 2022....

Accounting
Q

which of a following is sometimes called a currently attainable standard?

Accounting
Q

PLEASE HELP ME WITH THERE 2 QUESTIONS: #6 AND #7. THANK YOU ...

Accounting
Q

A company reported sales revenue, all of which arose from credit sales of $48,000 on...

Accounting