Future value of a lump sum amount, Finance Basics

+44 141 628 6080
[email protected]

Future value of a lump sum amount

Question: Jeanie has deposited USD 33,000 today in an account which will earn ten percent yearly. She plans to leave the funds in this account for 7 years earning interest. If the goal of this deposit is to cover a future obligation of USD 65,000, determine recommendation would you make to Jeanie?

Request for Solution File

Ask an Expert for Answer!!

Finance Basics: Future value of a lump sum amount

Reference No:- TGS016272

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Finance Basics

Q : Determine the true or false statements

Determine the true or false statements.

Q : Fixed portion of electrical cost using high-low method

Using high-low method, fixed portion of electrical cost each month would be?

Q : Compute the original principal amount

Compute the original principal amount from the given data.

Q : Determine future value of an asset

Determine future value of an asset

Q : Future value of a lump sum amount

If the goal of this deposit is to cover a future obligation of USD 65,000, determine recommendation would you make to Jeanie?

Q : Cost formula for total cost of creating and selling product

Best estimate for cost formula for total cost of creating and selling product (where X is number of units produced and sold in period) is?

Q : Compute the future annual payments

If the interest rate earned on the trust is expected to be at least seven percent in all future periods, how much income will the grandchild receive every year

Q : Computing contribution margin

Company had no beginning or ending inventories. Contribution margin for February was?

Q : Evaluate and contrast the financial performance

Evaluate and contrast the financial performance using financial ratios.

1950198

Questions
Asked

3,689

Active Tutors

1461211

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

What is jennifer gross profit margin percentage

What is Jennifer's gross profit margin percentage? (Round your final answer to two decimal places, X.XX%.) 56.45% 31.29% 23.63% 43.55%

Revenue variance for october would be closest to

The revenue variance for October would be closest to: Group of answer choices $2,640 U $2,640 F $1,224 U $1,224 F

What is the current ratio for a company with current assets

What is the current ratio for a company with current assets of $78,000, quick assets of $43,000, total assets of $157,000, current liabilities

Statements about asking questions during a meeting

Which of the following statements about asking questions during a meeting is true? Question Answer

Find unit product cost under absorption costing

Neef Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 84 Manufacturing costs

Economic activities into time-frames

Big Brothers Ltd divides its economic activities into time-frames of two months and prepares their financial statements for interested parties

How company has adopted a new accounting method

Question: Your company has adopted a new accounting method, which will increase the volatility of the reported earnings