Purchase Solution

Future Value/Interest Question Sample Solutions

Not what you're looking for?

Ask Custom Question

18. Find the amount that should be set aside today to yield the desired future amount.

Future amount needed $9000
Interest rate 48%
Compounding period Quarterly
Investment time 4 years

19. Rosa Burnett needs $6,000 in three years to make the down payment on a new car. How much must she invest today if she receives 2.5% interest annually, compounded annually?

Attachments
Purchase this Solution

Solution Summary

The file contains solution for:
18. Find the amount that should be set aside today to yield the desired future amount.
Future amount needed $9000
Interest rate 48%
Compounding period Quarterly
Investment time 4 years
19. Rosa Burnett needs $6,000 in three years to make the down payment on a new car. How much must she invest today if she receives 2.5% interest annually, compounded annually?

Solution provided by:
Education
  • MPhil, Madurai Kamaraj University
  • MCom, Annamalai University
  • IATA, International Air Transport Association
Recent Feedback
  • "Great explanations on how the answers were obtained."
  • "Love the way she explains everything step by step."
  • "Solutions were thoroughly explained."
  • "Excellent explanations of how problems are solved"
  • "Thanks"
Purchase this Solution


Free BrainMass Quizzes
Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Motivation

This tests some key elements of major motivation theories.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.