Saving for College. You want to create a college fund for a child who is now 3 years old. The fund should grow to $60,000 in 15 years. If an investment available to you will yield 6% per year, how much must you invest in a lump sum now to realize the $60,000 when needed? (Hint: Use Appendix A.2.)

Answers

Answer 1

Answer:

present value  = $25035.90

Explanation:

given data

future value = $60,000

rate = 6% = 0.06

time period = 15 year

solution

we get here present value that is express as

present value = [tex]\frac{future \ value}{(1+rate)^{time}}[/tex]     ........................1

put here value

present value = [tex]\frac{60000}{(1+0.06)^{15}}[/tex]  

solve it and we get

present value  = $25035.90


Related Questions

Which of these is true about the national unemployment rale!
A. All citizens are included in the labor force.
B. All people 18 years or older are counted as part of the labor force.
C. It is always at 6%.
D. It is never at zero.

Answers

Answer:

D. It is never at zero.

Explanation:

The unemployment rate is described as the percentage of the labor force that is jobless but actively seeking work. The labor force comprises an adult population that is currently working or seeking employment.

The unemployment rate is never at zero. At every moment, there is frictional unemployment as people switch jobs or new college graduates seeking their first job. There is also unemployment due to economic seasons. Even when the economy is considered to be at full employment, the unemployment level is not at zero but at around 3 to 5 percent.

What are five key features of a centrally-planned economy?

Answers

Answer: See explanation

Explanation:

A centrally planned economy is simply refered to as an economic system whereby the decisions regarding how resources will be allocated and distributed are done by the government.

Some of the features of a centrally planned economy include:

1. Ownership by the government.

2. The government is responsible for making economic decisions such as what to produce, for whom to produce and also how to produce.

3. Prices in the centrally planned economy are set by the price controls.

4. The economy is bureaucratic.

5. Laws are made by the government in the economy.

Which option identifies the component of the SMART objective (specific, measurable, attainable, realistic, and time-bound) missing from the following scenario?

Half-hour video interviews will be conducted with each veteran, discussing his or her service in World War II.


The benchmark indicating whether the objective is attainable is missing (attainable).

The benchmark indicating whether the objective is doable is missing (realistic).

The benchmark indicating specifics within the objective is missing (specific).

The benchmark indicating when the objective will be complete is missing (time-bound).

Answers

Answer:

A-  The benchmark indicating when the objective will be complete is missing (time-bound).  

Explanation:

Took the Quiz, was right.  My bro above helped me.  

Trust moi.  

Hope this helps <3  

Which of the following factors is unique to B2B buying and is not typically found in B2C buying?
Multiple Choice
- Decisions are usually made by individuals
- Most purchases are made at “list price” with cash or credit cards.
- There are a limited number of large buyers, often geographically concentrated in a specific area.
- Demand is based on consumer needs and preferences.
- Buyers engage in limited term or one-time-only relationships with many different sellers.

Answers

Answer:

There are limited number of large buyers, often geographically

Explanation:

Lenders look at the credit score of a loan applicant in order to _____.
a.
verify the applicant’s annual gross income
b.
ensure that the applicant is financially responsible
c.
ensure that the applicant’s credit score is as high as possible
d.
see what types of loans the applicant has applied for in the past


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

B

Explanation:

because they make sure you are responsible and careful with money

The correct option is b. ensure that the applicant is financially responsible.

Credit score:A credit score refers to the numerical expression depend upon a level analysis of a person's credit files, for presenting the creditworthiness of an individual. So for looking at the credit score, the applicant should be responsible financially.

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How does saving compare to savings?

Answers

Answer:
A savings account is a bank account that allows you to set money aside and earn interest in the process. Some savings accounts pay a lower interest rate while other savings accounts offer higher interest rates that can actually help you grow your money.

Why is it important to invest for your retirement? please explain :p

Answers

So that you become self-sufficient and have more control over your life in the future you don’t need to depend on Social Security, Medicare, or even relatives which are unreliable sources that you can’t control.

A naturalistic learning style fits a person who enjoys learning through _____.


listening to music

working alone

presenting a summary of a novel

comparing things found in nature

Answers

Answer: comparing things found in nature

Explanation:

Naturalistic learning involves the use of natural elements such as animals, plants, natural events and the environment in general to learn about various concepts.

People who would prefer this style of learning prefer to learn outdoors and are usually found comparing things found in nature to other things regardless of if they are indoors or outdoors. The strong attraction they feel to nature allows them to harness this learning style more effectively.

Answer:

comparing things found in nature

Explanation:

i got it right on my test

Where do most banks get the text to explain their calculations of interest?

Answers

Answer:

Schumer box/Truth in Lending Act

Explanation:

Khalil is a network engineer for a bank with branches all over the world. Why would Khalil’s position be very important to his company?

FASTTT

Answers

Answer:

Their role is important because they plan, construct, and manage networks to ensure they're optimized and functioning as intended. They're responsible for the foundation of an organization's IT system.

Explanation:

Answer:

Khalil’s position is indeed very important at his job. First of all, his job consists of working with computers, servers, network devices and other devices that are connected to one another. Devices that are connected to each other allow data to be shared, at Khalil’s job this is very important because the bank that he works for has branches all over the world and it is a key for the company to have good communication between all of the banks. Careers like Khalil’s are extremely important in our society today because of the fact that most of the communication in today’s jobs and schools is done virtually. Without network engineers our society would not function as is does now.

Do you think the ad will change women’s purchasing habits when it comes to shampoo? Explain.

Answers

Answer:

Depends on the product

Explanation:

Women love different scents, but they prefer ingredients that destroy the dryness from their hair, so if, let's say. a brand like TRESemme Shampoo and Conditioner starts putting heathier ingredients into it, and will put a box onto the bottle commonly on the back with words that read "TRESemme Keratin Smooth Shampoo contains natural keratin which strengthens hair and makes it unbelievably smooth.. It can even make your chemically-treated and damaged hair as smooth as before!" this can influence women's thought's to buy this product, so yes, yes an ad can influence a women's purchasing habits'.

Long story short: yes

1. Mrs. Ryan plants 3 flowers along 4 inches of a garden row. The garden row is 3 feet long.
How many flowers can she plant along the garden row?

2. Mrs. Murphy bought 5 yards of fabric.

How many feet of fabric did she buy? (1 yd = 3 ft)

3. Caitlin drew a line 4.3 meters long.

How many centimeters long is the line? (1 m = 100 cm)

4. A math book is 2.9 dm wide.

How many milliliters wide is the book? (1 dm = 100 mm)

5. A bookshelf is 210 centimeters tall.

How many meters tall is the bookshelf? (1 m = 100 cm)

6. Connor ran 3 miles.

About how many kilometers did he run?

(1 mi ≈ 1.61 km) Do not round your answer.

7. How many centimeters equal 13 inches?

1 in. = 2.54 cm


3.3 cm

13.32 cm

33.02 cm

330 cm

Answers

Question 1. if 3 flowers = 4 inches, and she has a 3 foot long row to plant flowers, then we need to see how many inches the row is.

1 foot = 12 inches

12 inches x 3 = 36 inches, or 3 feet.

Now we need to divide.

36 divided by 4 = 9.

So now we know that Mrs. Ryan can plant x amount of flowers 9 times. This makes the answer easier to find.

To find the answer, we need to simply multiply 3 and 9.

3 x 9 = 27.

Your answer would be Mrs. Ryan planted 27 flowers.

Question 2. this is simple. Just multiply 5 and 3.

5 x 3 = 15.

Your answer would be Mrs. murphy bought 15 feet of fabric.

Question 3. This is simple...Just multiply 4.3 x 100, or move the decimal over to the right twice and put a 0 where theres an empty space.

4.3 x 100 = 430

Your answer is the line is 430 centimeters wide.

Question 4. This is simple, just multiply 2.9 x 100 or move the decimal over to the right twice and put a 0 where there's an empty space.

2.9 x 100 = 290

Your answer is The book is 290 milliliters wide.

Question 5. This is also very simple. This time we add a decimal twice to the left. Put the decimal next to the 0 in 210.

210.

21.0

2.10

Your answer would be the bookshelf is 2.1 meters tall.

Question 6. This is simple, again... Just multiply 13 and 2.54.

2.54 x 13 = 33.02

Your answer would be c, 33.02 cm.

Question 7. This is simple, again... Just multiply 13 and 2.54.

2.54 x 13 = 33.02

Your answer would be c, 33.02 cm.

You are in charge of purchasing supplies for a lighting company and need to buy 125 feet of electrical wire. A local supplier sells the wire for $1.25 per foot, plus 5% sales tax. An online company sells the wire for $1.75 per foot. The online company also offers a rebate of 10% for the whole order and charges no additional sales tax. If you choose the better of the two prices, how much will you pay for the 125 feet of wire?

Answers

Answer:

$164.06 for the 125 feet

Explanation:

total costs from brick and mortar store = ($1.25 x 1.05) x 125 feet = $164.06

total costs from online store = $1.75 x (1 - 10%) x 125 feet = $196.88

after you compute the total costs per store, you should purchase the electrical wire from the brick and mortar store

If I decide to tax students for tissues, charging 25 cents per tissue, this wax would be considered "fair" based on which principle of fairness?

a. benefits-received principle
b. willingness-to-spend principle
c. cost-incurred principle
d. ability-to-pay principle

Answers

A ‘ososoln ski ski ski 473

The purchasing power of peoples' income is most affected by what?
a.The rate of inflation
b.The trade deficit
c.The balance of payments
d.The value of foreign currency

Answers

The rate of inflation

Explanation:

Sarah purchased 75 sweaters from a wholesaler for $16 each. She wants the markup percentage to be 18 percent. How much will Sarah's profit be per sweater?

Answers

Dddddddddddddddddddddd

You borrow $50 for 1 year at 5% interest rate. What is the interest owed?

Answers

Answer:

i think it would be 100 dollars

Explanation:

you mulitpy original by 5 which comes out to 100

Chris values family and friends most. _____ is/are the most important thing to him.


Relationships

Courage

Responsibility

Achievement

i think its relationships

Answers

Relationships

Explanation:

Answer:

Relationships

Explanation:

got it right on edge 23

Which words means finds its food; a consumer.?

Answers

Answer:

The word that means finding its food is hunting

2d character or 3d what u guys pickin?​

Answers

Answer:2d

Explanation:

Answer:

3D

Explanation:

Because 2d is like just so flat and boring and 3d is cool because it looks like it pops out on paper and it is just really cool.

Script between manager and customer while returning a product? ​

Answers

Answer:The principal thing you need to do when there's any issue, paying little heed to who's to blame, apologizes and pass on sympathy. You need to help settle their issue, yet you likewise need to ensure that their interests are heard and perceived. The contents underneath will cover the fundamental issues of value blunders, request misunderstandings, and other item related issues.

At the point when the inaccurate delivery address is entered. It would appear that your request transported to some unacceptable location. So heartbroken about that. We will send another [product name] to your location, and it ought to show up inside the following week.

At the point when an item is rarely conveyed: So sorry to learn that, [insert name]. Allow me to raise your request so we can perceive what occurred and get another [product name] shipped off you.

I'm so heartbroken about the mistake. We should perceive what we can do about amending your request.

At the point when the item is gotten broken: I'm so grieved about that. In the event that you send a photograph of the harmed [product name], we'll feel free to convey another [product name]. Obviously, in the event that you'd like a discount, we can feel free to deal with that for you, also.

I realize this is not exactly ideal. In any case, I must converse with my chief and see what we can concoct to determine your issue. Is it alright in the event that I [call/email/message] you back once we have a goal? I guarantee it will not take longer than 24 hours.

At the point when the item isn't what they expected: I'm sorry to such an extent that the [product name] wasn't what you anticipated. Might you want to return or trade your [product]? Continue with a discount/merchandise exchange.

At the point when the item is an alternate tone or size than what they requested: I'm so grieved about that, let me feel free to convey the right size/shading that you at first arranged. I will email you headings for restoring the item that we erroneously sent and send your [correct product] at the present time.

So heartbroken, [customer name], It appears we committed an error and sent the receipt to some unacceptable email. We're going on and resend your notice; you ought to get it inside 24 hours.

Explanation:

the purpose of a budget is to do what?
O A. Earn a return on savings
O B. Make sure expenses are below income
O C. Reduce the size of fixed expenses
O D. Prevent discretionarily spending

Answers

D. the whole point of a budget is to save money. sometimes we buy unnecessary things that we don’t need or already have. being on a budget will keep us from spending the money that we could use later on in life!

The reason why we come up with budgets is to B. Make sure expenses are below income.

Why do we use budgets?



Budgets are beneficial because they help us spend our income in such a way that we still have savings and can take care of all our expenses.

This means that budgets help us to spend less expenses than income so that we can have savings.

Find out more on budgets at https://brainly.com/question/6663636.

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Which type of tax provides income for retired and disabled people and their families?
A. Social Security tax
B. Medicare tax
C. Property tax
D. Income tax

Answers

A. Social security tax

Answer:

A. Social Security tax

Explanation:

A social security tax provides income for retired and disabled people and their families

why is a higher interest rate important when saving money
(A) it pays interest on principal and interest
(B) it means a person will owe the bank less over time
(C) it grows savings at a faster pace
(D) it requires a lower amount be deposited each month

Answers

Answer:

C.

Explanation:

I believe it is C. because I'm pretty sure its talking about the interest which is where you receive some money from the bank for keeping you money there or whatnot.

The correct option is (C). it grows savings at a faster pace is a higher interest rate important when saving money.

A higher interest rate means that the saver will earn more interest on their savings, which will grow their savings at a faster pace.

Option (A) is incorrect because interest is only paid on principal, not on interest.

Option (B) is incorrect because a higher interest rate will not mean that a person will owe the bank less over time.

Option (D) is incorrect because a higher interest rate does not require a lower amount to be deposited each month.

Here is an example to illustrate this point. Let's say you have $1,000 in a savings account with an interest rate of 1%. After one year, you will have earned $10 in interest.

If the interest rate on your savings account were 2%, you would have earned $20 in interest after one year. Therefore, a higher interest rate will help your savings grow at a faster pace.

A higher interest rate will help your savings grow at a faster pace because you will earn more interest on your savings.

Learn more about interest,here:

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In addition to working on construction sites, where else might a sheet metal worker typically be employed?

community college
office
farm
factory

Answers

Answer:

factory

Explanation:

Just did the test your welcome.

this is what i get for missing online lessons haha

Answers

Answer:

22.28%

Explanation:

As per the pie chart

Variable costs:  £2,150.00

Fixed costs £7,500.00

Total weekly costs = variable costs + fixed costs

= £2,150.00 +£7,500.00

=£9,650

Variable costs as a percentage of weekly costs

= £2,150/£9,650 x 100

=22.279792%

=22.28%

Forms of speech include all but the following _____.


argumentative

informative

entertaining

persuasive

Answers

The answer is entertaining

Samantha makes $250.00 a week and saves 10% of her paycheck each week. How much will she save in 12 months

Answers

Answer:

300

Explanation:

You have to find 10% of 250(25 ofc) Then multiply that(25) By 12

Which of the following are steps in the Incident Reporting Process? (select all that apply)

review by management

develop changes in care

enact changes in care

record the incident

Answers

Answer:

review by management

develop changes in care

enact changes in care

record the incident

Review by management, develop changes in care, enact changes in care, record the incident are the following steps in the Incident Reporting Process.

What is Process?

A process is a set of decisions and actions used to carry out work. Although we may not be aware of them, processes are present in every sphere of our lives, including work and leisure.

Employees who get sick or hurt at work are given the treatment and help they require thanks to an incident reporting mechanism. In order to manage and improve preventive measures, it also helps with the recording and tracking of incidents.

Therefore, all the steps are the part of Incident Reporting Process.

Learn more about Process, here;

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on a timeline, a milestone 14 years in the future will be to the ____ of a milestone 8 years in the future and to the ____ of a milestone 2 years in the future. left; left, right; left, right; right, left; right

Answers

Answer:

Right; Right

Explanation:

.

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