A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $42,000 when the child reaches the age of 18? Assume the money earns 7% interest, compounded quarterly.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Alpine Energy Corporation has 1,500,000 shares of $40 par common stock outstanding. On August 2, Alpine Energy declared a 4% stock dividend to be issued October 8 to stockholders of record on September 15.
Answers (1)
A cosmetics maker changes the packaging for its lip gloss from a jar to a tube. This is an example of which product expansion strategy? line extension product modification
Answers (1)
When managing processes, it is vital that: Select one: a. design teams are not held accountable since their involvement ends once the new process rolls out. b. the organization is not satisfied unless fundamental reengineering changes are made. c.
Answers (1)
High marginal tax rates will a. increase the incentive of people to earn. b. make it expensive for taxpayers to purchase tax deductible items. c. cause some people to work and earn less than would be the case if marginal tax rates were lower. d.
Answers (1)
A transaction broker discloses to a buyer who is considering making an offer on listed property that the seller will accept $10,000 less than the listed price. Which duty has the licensee violated?
Answers (1)
New Questions in Business
ABC Company insured its building on a replacement cost basis for $700,000 under a property insurance policy that included an 80 percent coinsurance clause. The building had a replacement cost of $1 million when it sustained a $40,000 loss.
Answers (1)
Which of the following are true? Select one or more: (a) The t-distribution is dependent on the sample size. (b) The t-distribution does not depend on the sample size.
Answers (1)
Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 13.6 Process time 2.7 Inspection time 0.3 Move time 3.3 Queue time 7.0 The delivery cycle time was:
Answers (1)
During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible.
Answers (1)
How often is interest earned from bonds usually paid to the bond holder? 1) Every month 2) Once per year 3) Twice per year 4) Every two years
Answers (1)