Author Question: A financial advisor tells you that you can make your child a millionaire if you just start saving ... (Read 89 times)

jessicacav

  • Hero Member
  • *****
  • Posts: 558
A financial advisor tells you that you can make your child a millionaire if you just start saving
  early.
 
  You decide to put an equal amount each year into an investment account that earns 7.5
  interest per year, starting on the day your child is born. How much would you need to invest each
  year (rounded to the nearest dollar) to accumulate a million for your child by the time he is 35 years
  old? (Your last deposit will be made on his 34th birthday.)
  A) 6,525 B) 20,347 C) 12,500 D) 7,910

Question 2

Which of the following would NOT normally be considered a flotation cost?
 
  A) printing and engraving expenses B) dividends
  C) legal fees D) underwriter's spread



Jordin Calloway

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

A

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

For a complete list of videos, visit our video library