Your friend John started college at the age of 18 with $63,450 already saved, because 18 years ago when he was born his parents placed money into a special college savings account earning 7.25% per year
How much money did John's parents place into his college account?
A) $18,000
B) $3,525
C) $17,262
D) $5,824
Answer: A
Explanation: A) PV = = = $18,000.32
MODE = END
INPUT 18 7.25 ? 0 63,450
KEY N I/Y PV PMT FV
CPT 18,000.32
You might also like to view...
In order to develop a multiattribute attitude model of its customers, a retailer should gather information about all of the following exceptÂ
A. the importance weights that customers attach to the features they consider when choosing a retailer. B. customers' belief ratings of each retailer's performance on the characteristics when selecting a store. C. the alternative retailers that customers consider. D. the customer's age, education, and income levels. E. the benefits that customers consider when making their retailer choices.
The formal planning model emphasizes a ________ approach.
A. left-right B. horizontal C. bottom-up D. top-down E. vertical
Ideally, a sample should be representative so that a researcher can make accurate estimates of the thoughts and behaviors of the larger population
Indicate whether the statement is true or false
Why is it important to consider culture when choosing our words and style?
What will be an ideal response?