Question

For my oldest son, Timmy, my wife and I EACH put $25 per paycheck into a...

For my oldest son, Timmy, my wife and I EACH put $25 per paycheck into a college fund that earns 9.5% APR. We are both paid bi-weekly (every 2 weeks) and stared saving exactly 2 weeks after he was born. How much will he have for college when he turns 18?

Homework Answers

Answer #1

ANSWER IN THE IMAGE((YELLOW HIGHLIGHTED). FEEL FREE TO ASK ANY DOUBTS. THUMBS UP PLEASE.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
I have solved the problem up to number 6. all my answers from 7 keeps coming...
I have solved the problem up to number 6. all my answers from 7 keeps coming up incorrect. That is where i need the help. Thank you Note: This problem is for the 2018 tax year. Daniel B. Butler and Freida C. Butler, husband and wife, file a joint return. The Butlers live at 625 Oak Street in Corbin, KY 40701. Dan's Social Security number is 111-11-1112, and Freida's is 123-45-6789. Dan was born on January 15, 1967, and Freida...
  The following balance sheet and income statement should be used for questions #1 through #6: Kuipers,...
  The following balance sheet and income statement should be used for questions #1 through #6: Kuipers, Inc. 2001 Income Statement (OMR in millions) Net sales 9,625 Less: Cost of goods sold 5,225 Less: Depreciation 1,890 Earnings before interest and taxes 2,510 Less: Interest paid 850 Taxable income 1,660 Less: Taxes 581 Net income 1,079 Addition to retained earnings 679 Dividends paid 400 Kuipers, Inc. 12/31/00 and 12/31/01 Balance Sheet (in OMR, in millions) 2000 2001 2000 2001 Cash 1,455 260...
6.   If the general level of interest rates goes down and I am holding a bond with...
6.   If the general level of interest rates goes down and I am holding a bond with a fixed coupon rate, I would expect the value of my bond to a.stay the same b.double c.increase d.decrease e.not enough information to tell 7.  The Rule of 72’s a.Is about doubling the present value to get the future value. b.Says that 72 divided by the payment gives you the number of years to double. c.Says that the rate divided by 72 gives you the...
Read and comment: $2500: “A Fair Price for Hamilton” NY Times, 23 October 2016 Gregory Mankiw...
Read and comment: $2500: “A Fair Price for Hamilton” NY Times, 23 October 2016 Gregory Mankiw Consumers of goods and services do not typically wish that producers charged higher prices. But that was exactly my desire on a recent trip to New York City. The story begins with a basic mismatch: I am a big fan of theater, and I live just outside Boston. While Boston is a good city for the arts, it is not the mecca that New...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary rivals? How will the acquisition of Reebok by Adidas impact the structure of the athletic shoe industry? Is this likely to be favorable or unfavorable for New Balance? 2- What issues does New Balance management need to address? 3-What recommendations would you make to New Balance Management? What does New Balance need to do to continue to be successful? Should management continue to invest...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described itself as "a quarterly survey of business leaders from across the globe … surveying 11,500 businesses in 40 economies across the globe on an annual basis." 1 According to the 2011 IBR, the Asia Pacific region had a higher percentage (27 percent) of female chief executive officers (CEOs) than Europe and North America. Japan is the only Asia Pacific region exception. The report further...