A metallurgical engineer decides to set aside money for his newborn daughter's college education. He estimates that her needs will be $20,000 on her 17th, 18th, 19th, and 20th birthdays. If he plans to make uniform deposits starting 3 years from now and continue through year 16, what should be the size of each deposit, if the account earns interest at a rate of 8% per year?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A metallurgical engineer decides to set aside money for his newborn daughter's college education. He estimates that her needs will be ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The true focus in marketing activities is: a. product / service attributes. b. generate profits. c. overall marketing mix. d. customers.
Answers (1)
On November 1, 2021, Quantum Technology, a geothermal energy supplier, borrowed $8 million cash to fund a geological survey. The loan was made by Nevada BancCorp under a noncommitted short-term line of credit arrangement.
Answers (1)
When computing the net cash provided by operating activities using the indirect approach on the statement of cash flows, which item below would NOT be added to net income? Depreciation. Loss on the sale of an asset. Decrease in accounts payable.
Answers (1)
The U. S. Post Office charges 40 cents for the first ounce and 25 cents per ounce for each additional ounce. Use an inequality to find the number of whole ounces that can be mailed for no more than $4.00.
Answers (1)
Amigos, Inc., purchased a used piece of heavy equipment for $30,000. Delivery of the equipment to Amigos's business site cost $750. Expenditures to recondition the equipment and prepare it for use totaled $2,230.
Answers (1)
New Questions in Business
Denver company uses a job costing system. The work in process inventory on december 31 consisted of job no. 173 with a balance of $66,200. Job no. 173 has been charged with manufacturing overhead costs of $20,000.
Answers (1)
Caesar, a single taxpayer, has a wage income of $75,000. He also has a short-term capital loss of $5,000, a short-term capital gain of $2,000, and a long-term capital gain of $3,000. What is Caesar's AGI for 2019? a) $72,000. b) $75,000. c) $77,000.
Answers (1)
Ben's Border Café is considering a project which will produce sales of $16,000 and increase cash expenses by $10,000. If the project is implemented, taxes will increase from $23,000 to $24,500 and depreciation will increase from $4,000 to $5,500.
Answers (1)
Taco Hut purchased equipment on May 1, 2018, for $15,000. Residual value at the end of an estimated 8-year service life is expected to be $4,000.
Answers (1)
Seed Packets, Inc., a garden seed company, requires its customers to pay by check. Taylor, a Seed Packets driver, tells customers that they can pay her with cash. When Seed Packets learns of Taylor's collections, it does not act to stop them.
Answers (1)