If you wish to accumulate $200,000 in the child's college fund after 18 years, and can invest at a 7.5% annual
rate, how much must you invest at the end of each year if the first deposit is made at the end of the first year?
What will be an ideal response?
$5,605.79
You might also like to view...
A solvency measure that focuses specifically on the extent to which a company relies on outsiders for funds is:
a. cash flow from operations to capital expenditures ratio b. debt service coverage ratio c. times interest earned ratio d. debt-to-equity ratio
Discuss the public key encryption technique
Alyssa Corporation uses a standard cost system. Direct labor information for Product CER for the month of October is as follows: Standard rate $8.00 per hour Actual rate paid $8.30 per hour Standard hours allowed for actual production 1,400 hours Labor efficiency variance $ 800 unfavorable What are actual hours worked?
a. 1,330 b. 1,400 c. 1,500 d. 1,300
An adjusting entry can include a debit to a(n)
a. asset and a credit to a liability. b. liability and a credit to a revenue. c. revenue and a credit to an asset. d. expense and a credit to a revenue.