Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. your sister just deposited $12,500 into an investm

Your sister just deposited $12,500 into an investment account. She believes that she will earn...

80.2K

Verified Solution

Question

Accounting

Your sister just deposited $12,500 into an investment account. She believes that she will earn an annual return of 10.2 percent for the next 9 years. You believe that you will only be able to earn an annual return of 9.6 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 9 years?

$629.54

$520.50

$587.57

$671.51

$1,889.97

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

Which of the following diseases is known to be linked to chronic inflammation? A.Cancer B.Diabetes C.Osteoporosis D.Atherosclerosis E.Hypertension F.All of the above.

Medical Sciences
Q

3 33 points any subspecies of fish or A Bill known as the Endangered Species...

Biology
Q

Match the graph with its function 1 2 M N 0

Basic Math
Q

Before lending someone money banks must decide whether they believe the applicant will repay the...

Statistics
Q

Which ratio is used to calculate cos 61 O A cos 61 OB cos 61...

Algebra
Q

Blue Spruce Welding rebuilds spot welders for manufacturers. The following budgeted cost data...

Accounting
Q

Calculate the equity ratio based on the following information: cash = $14,870;...

Accounting
Q

Suppose a 15-year maturity, annual coupon payable bond. Current interest rate is 11%. Next year,...

Accounting
Q

In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and,...

Accounting
Q

Reviewing sales invoices and asking a sales manager to explain why a price deviation occurred...

Accounting
Q

On October 1, 2020, Mertag Company (a U.S.-based company) receives an order from a customer...

Accounting
Q

12. Which of the following is INCORRECT regarding stocks? ...

Finance