Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. your parents are giving you $150 a month for 5 yea

Your parents are giving you $150 a month for 5 years while you are in college....

90.2K

Verified Solution

Question

Accounting

Your parents are giving you $150 a month for 5 years while youare in college. At a 6 percent discount rate, what are thesepayments worth to you when you first start college?

I am doing every step right in my financial calculator, getting8,886.60. I don't understand why.

Answer & Explanation Solved by verified expert
4.5 Ratings (600 Votes)
    See Answer
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

Transcribed Image Text

Your parents are giving you $150 a month for 5 years while youare in college. At a 6 percent discount rate, what are thesepayments worth to you when you first start college?I am doing every step right in my financial calculator, getting8,886.60. I don't understand why.

Other questions asked by students

Q

Respond to the following in a minimum of 175 words: This week, we consider how to conduct hypotheses...

Basic Math
Q

In biotechnology what is the role of a vector? Give me two examples of vectors.

Biology
Q

The Small Business Development Centers operate at O State Universities O Colleges Both state Universities...

Biology
Q

Given nonzero vectors u v and w use dot product and cross product notation as...

Calculus
Q

2 Let f be the function given by f x x 3x x 2 A...

Calculus
Q

Use the following information to calculate the value of inventory on hand on Mar 31...

Accounting
Q

Sarasota Corporation purchased a boardroom table for $16,000. The company planned to keep it for...

Accounting
Q

On January 1, 2020, Miller Construction Company contracted to build a parking lot for the...

Accounting
Q

How are the profit and loss from translating foreign operations financial statements from local currency...

Accounting
Q

Ch 4 Ex 10,11,12 https/ Ch 4 Ex 10,11126 Help Save & Exit Sub...

Accounting
Q

apply management control through the use of budgets and the balanced scorecard

Accounting
Q

A potential project has an initial capital investment of $85,000. Net annual revenues minus expenses...

Finance