This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Janice would like to send her parents on a cruise for their 25th wedding anniversary. She has priced ... (Read 202 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jul 10, 2018
Janice would like to send her parents on a cruise for their 25th wedding anniversary. She has priced the cruise at 15,000 and she has 5 years to accumulate this money.
 
  How much must Janice deposit annually in an account paying 10 percent interest in order to have enough money to send her parents to cruise? (Round to the nearest whole dollar)
  A) 1,862
  B) 2,457
  C) 3,000
  D) 2,234
  E) 2,135

Question 2

How much will you need in 30 years to have the same purchasing power that 150 has today, if inflation averages 4 per year?
 
  A) 486.51
  B) 180.00
  C) 120.00
  D) 169.08
  E) 330


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 10, 2018
Answer to Question 1

B

Answer to Question 2

A


renzo156

  • Member
  • Posts: 526
Reply 2 on: Jul 10, 2018
Gracias!

dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Hydrocephalus. The figure on the left is a child with the enlarged ventricles of hydrocephalus. The Hydrocephalus. The figure on the left is a child with the enlarged ventricles of hydrocephalus. The
Lilly Martin Spenser’s painting, Domestic Happiness (1844), reflects the change in attitudes toward Lilly Martin Spenser’s painting, Domestic Happiness (1844), reflects the change in attitudes toward
Poor single parents and their children Poor single parents and their children
Thank your parents if you’re smart Thank your parents if you’re smart
Children with emotional or behavioural problems living with both parents vs divorce Children with emotional or behavioural problems living with both parents vs divorce
The phenotypes and chromosome compositions of parents The phenotypes and chromosome compositions of parents
Video: Autonomic Nervous System Animation

For a complete list of videos, visit our video library