accounting

posted by .

V P3-10. Calculating Present Value of a Savings Fund. (Obj. 5)

Hal Thomas wants to establish a savings fund from which a community organization could draw $850 a year for 45 years. If the account earns 6 percent, Hal will have to deposit $ now to achieve this goal.

  • accounting -

    12920

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. calculating annuity

    IF a company will generate 80,000 in annual revenue each year for the next eight years and the interest rate is 8.2% what is the present value of the savings?
  2. accounting

    Mr. Jones intends to retire in 20 years at the age of 65. As yet he has not provided for retirement income, and he wants to set up a periodic savings plan to do this. If he makes equal annual payments into a savings account that pays …
  3. Accounting

    Mr. jones intends to retire in 20 years at the age of 65. As yet he has not provided for retirement income, and he wants to set up a perodic savings plan to do this. If he makes equal annual payments into a savings account that pays …
  4. MATH FOR LIBERAL ARTS

    Maria just inherited $10,000. Her bank has a savings account that pays 4.2% interest per year. Some of her friends recommended a new mutual fund, which has been in business for three years. During its first year, the fund went up in …
  5. math 141

    Maria just inherited $10,000. Her bank has a savings account that pays 4.1% interest per year. Some of her friends recommended a new mutual fund, which has been in business for three years. During its first year, the fund went up in …
  6. math

    Your invest $3,000 annually in a mutual fund that earns 10 percent annually and you invest all distributors. How much will you have in the account at the end of 20 years?
  7. Algebra

    A mother wants to invest 8,000 dollars into her child's college fund. She invests a portion of the money into a CD account which earns 4% interest, and the remainder into a savings bond which earns 7% interest. If the total interest …
  8. personal finance

    Hal Thomas wants to establish a savings fund from which a community organization could draw $800 a year for 20 years. If the account earns 3 percent, what amount would he have to deposit now to achieve this goal?
  9. Math

    Suppose a man is 30years old and would like to retire at age 65 ​Furthermore, he would like to have a retirement fund from which he can draw an income of ​$50,000 per yearlong dash—​forever! How can he do​ it?
  10. economics

    a beautiful girl 22 years young has just graduated from college. She accepts a good job and desire to establish her own retirement fund. At the end of each year there after she plans to deposit 2000 in the fund out 15% annual . How …

More Similar Questions