Author Question: A financial advisor tells you that you can make your child a millionaire if you just start saving ... (Read 90 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?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

For a complete list of videos, visit our video library