## Question

###### Brief Exercise G-5 Andrew and Emma Garfield invested 57.600 in a savings account paying 7% annual...

Brief Exercise G-5 Andrew and Emma Garfield invested 57.600 in a savings account paying 7% annual interest when their daughter, Angela, was born. They also deposited 51.400 on each of her birthdays until she was 14 (including her 14th birthday Click here to view the factor table Future of Click here to view the factor table Future Value of an Anruty of (For calculation purposes, use 5 decimal places as displayed in the factor table provided) How much was in the savings account on her 14th birthday after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.) Amount on 14th birthdays Click If you would like to Show Work for this questions Open Show Work

## Answers

Annual invested today = $7,600

Annual deposit amount = $1,400

timer period (n) = 14 years

Interest rate (i) = 7%

Amount on 14th birthday = Amount invested today x Future value factor ( i%, n) + Annual deposit amount x Future value annuity factor (i%,n)

= 7,600 x 2.57853 + 1,400 x 22.5506

= 19,596.82+31,570.84

= $51,167.66

Note: Exact answer may slightly differ due to rounding off and factor value considered

Kindly comment if you need further assistance. Thanks‼!

#### Similar Solved Questions

1 answers

##### (i) Write down the mathematical definition of the Dirac delta function. (ii) Compute the following integrals...

(i) Write down the mathematical definition of the Dirac delta function. (ii) Compute the following integrals | ** cos(e)8(t – 2) dt f sin®(t + 7/3)8'(t) dt e '8(t? – r) dt where x is a real non-zero number....

1 answers

##### Break.Even Sales and Sales to Realize Income from Operations For the current year ending October 31....

Break.Even Sales and Sales to Realize Income from Operations For the current year ending October 31. Yentling Company expects fixed costs of $592.000, a unit variable cost or unit selling price of $98. a. Compute break-even sales (units). b. Compute the sales (units) required to realize income from ...

1 answers

##### Company Hector said today that they will begin paying annual dividends next year. The first dividend...

Company Hector said today that they will begin paying annual dividends next year. The first dividend will be $0.15 a share. The following dividends will be $0.25, $0.35, and $0.60 a share annually for the following 3 years respectively. After that, dividends are projected to increase by 4 percent pe...

1 answers

##### What is the velocity of a car that traveled a total of 100 kilometers north in 2 hours?

What is the velocity of a car that traveled a total of 100 kilometers north in 2 hours?...

1 answers

##### 1. (4 points) Consider the functions f(z) = 2.3-2-2 1 and g(x)-z?-2 (a) Graph both of...

1. (4 points) Consider the functions f(z) = 2.3-2-2 1 and g(x)-z?-2 (a) Graph both of these functions on the interval [-2,3] in the same plot. (b) Find the total area that is bounded by the two curves. Uise the double command to approximate your answer as a decimal....

2 answers

##### Filing Company manufactures three types of filing storage units. Each of the three types requires the...

Filing Company manufactures three types of filing storage units. Each of the three types requires the use of a special machine that has a total operating capacity of 15,000 hours per year. Information on the three types of storage units are as follows: Basic Standard Deluxe Selling pric...

1 answers

##### 1. Are these activities projects? Explain your answer. a) Eating meal: b) Planning a wedding: Building...

1. Are these activities projects? Explain your answer. a) Eating meal: b) Planning a wedding: Building a new house: d) Cleaning your room....

1 answers

##### 8. Given the following code part, when methodA) is running, list ALL variables that are on...

8. Given the following code part, when methodA) is running, list ALL variables that are on the current program Stack? (assume that the compiler only allocates memory space when it sees a variable declaration) (8 pts) static int 10 void methodA) inta -123 return a1; void methodB(int b) t b b/12 3 sta...

1 answers

##### Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new...

Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are fr...

1 answers

##### Solve correctly please Question 3 (9 points) Compute the missing amounts below PRODUCTION COST WORKSHEET USING...

Solve correctly please Question 3 (9 points) Compute the missing amounts below PRODUCTION COST WORKSHEET USING FIFO Flow of production Units Direct Materials Conversion Work in process, beginning Started during period To account for Units completed Work in process, beginning Started and complete...

1 answers

##### A 17.5 kg block is dragged over a rough, horizontal surface by a constant force of...

A 17.5 kg block is dragged over a rough, horizontal surface by a constant force of 70.4 N acting at an angle of 27.5◦ above the horizontal. The block is displaced 46.9 m, and the coefficient of kinetic friction is 0.119. The acceleration of gravity is 9.8 m/s2 . 17.5 kg μ = 0.119 Find the w...

1 answers

##### To bergs in the North Atlantic present hazards to shipping causing the length of shipping routes ...

to bergs in the North Atlantic present hazards to shipping causing the length of shipping routes to increase by about 30% during the iceberg season. Attempts to destroy icebergs include planting explosives bombing tape ng S elling, ammin . i d pa nting with lar o i ck Suppc e that dind me ting of th...

1 answers

##### In the mass spectrum of bromoform, CHBr3, molecular ion peaks appear at m/z 250, 251, 252,...

In the mass spectrum of bromoform, CHBr3, molecular ion peaks appear at m/z 250, 251, 252, and 253? What is the ratio of the intensities of these peaks? a) 2:3:3:2 b) 3:2:2:3 c) 1:1:1:1 d) 1:2:2:1 e) 1:3:3:1...

1 answers

##### 59) Subdividing an organization into smaller subunits is known as A) centralization. B) delegation. C) standardization....

59) Subdividing an organization into smaller subunits is known as A) centralization. B) delegation. C) standardization. E) diversification. 60) One advantage of delegation is the fact that it A) reduces the subordinate's workload. B) reduces accountability for the job. C) formalizes power in the...

1 answers

##### Kindly help with question 12-24 step by step by hand. thanks 444 CHAPTER 12: INCOME TAXES...

kindly help with question 12-24 step by step by hand. thanks 444 CHAPTER 12: INCOME TAXES FOR CORPORATIONS Contribute net present worth of this investment.com Mukasa Ssemakula, Wayne State Univ 12-25 A firm has invested $400,000 in ment. They will depreciate the eau bonus depreciation with the balan...

1 answers

##### Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...

Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it recorded during a recent month is shown below. $76,200 in raw materials were purchased for cash. $72,400 in raw materials were used in production. Of this amount, $65,200 was for di...