Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer on paper, thank you. 8. (extra cre

Please answer on paper, thank you. 8. (Extra credits, 5 pts) Kathryn deposits...

90.2K

Verified Solution

Question

Accounting

Please answer on paper, thank you.

image

8. (Extra credits, 5 pts) Kathryn deposits $100 into account at the beginning of each 4-ycar period for 40 years. The account credits interest at an annual effective interest rate of i. The accumulated amount in the account at the end of 40 years is X, which is 5 times the accumulated amount in the account at the end of 20 years. Then what is X? You can solve this problem in following steps. a. What is the present value in formula)? b. Using your answer in part a, what is the accumulated value at end of 40 years, or X. And what is the accumulated value at end of 20 years, say Y? c. Let X=57. Solve for (1+i). Hint: (1-1)) = (1-6)) (1+ (13-))

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You hypothesize that antlers of male deer are costly signals of fighting ability that are directed...

Biology
Q

A young woman is snorkeling and (as an observant physiology student) you understand that she must...

Medical Sciences
Q

In 1900 educators argued that post literacy schooling would produce three desirable results Which of...

Biology
Q

Select 4 numbers that are equal to 10 0 06 0 60 6 60 6...

Basic Math
Q

What is 100 26 written as a a percentage b a decimal

Basic Math
Q

A teacher is interested in knowing the average score of his class. He has an...

Basic Math
Q

Use the chain rule to compute the derivative for the given value of x dx...

Calculus
Q

Evaluate the indefinite integral 26x

Calculus
Q

Find the exact value of the expression Use a graphing utility to verify your result...

Calculus
Q

(I only need help with question 2.2, i have completed the other parts but still...

Accounting
Q

National Chocolate Corp. produces chocolate bars and snacks under the brand names Blast and Soothe....

Accounting
Q

Keira is trying to sell her business and a potential buyer wants to know the...

Accounting