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

Author Question: Harry decided he was tired of being a poor college student when he visited a local electronics store ... (Read 40 times)

audragclark

  • Hero Member
  • *****
  • Posts: 579
on: Jul 10, 2018
Harry decided he was tired of being a poor college student when he visited a local electronics store and experienced its finest home theatre system.
 
  He determined that he would invest today a portion of the remaining money he earned last summer cleaning animal cages at the veterinary clinic. He plans to invest the money into an international mutual fund for 3.5 years and expects to earn an average annual rate of return of 15. If Harry wants to have 4,000 in the account at the end of this time, how much must he invest today?
  A) 1,253
  B) 2,048
  C) 2,453
  D) 2,591

Question 2

Which alternative is not characteristic of an Internet broker?
 
  A)
 
  Easy account access for placing and monitoring orders
  B)
 
  Typically offers an excellent Web site
  C)
 
  Places restrictions on the number of trades you can make
  D)
 
  Has very low commissions


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zenzy

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 10, 2018
Answer to Question 1

Answer: C
Explanation: C) PV = = = 2,452.55
MODE = END
INPUT 3.5 15 ? 0 4,000
KEY N I/Y PV PMT FV
CPT 2,452.55

Answer to Question 2

C


audragclark

  • Member
  • Posts: 579
Reply 2 on: Jul 10, 2018
Great answer, keep it coming :)

hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Species-rich floras of chalk grassland compared to species-poor floras of acid soils. Species-rich floras of chalk grassland compared to species-poor floras of acid soils.
Ethnic Differences in Financial Support for College Based on a sample of 304 emerging adults aged 2 Ethnic Differences in Financial Support for College Based on a sample of 304 emerging adults aged 2
Sample Student Externship Form Sample Student Externship Form
Why the Poor Need Children Why the Poor Need Children
Ringworm is a local contraindication for massage. Centers for Disease Control and Prevention. Ringworm is a local contraindication for massage. Centers for Disease Control and Prevention.
Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ... Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ...
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library