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rjkz [21]
3 years ago
10

Since your first birthday, your grandparents have been depositing $1,000 into a savings account on every one of your birthdays.

The account pays 4% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to:
Business
1 answer:
irina1246 [14]3 years ago
4 0

Answer:

$25,650

Explanation:

The formula for calculating the future value of an annuity is:

F = P x ([1 + I]^N - 1 ) / I

where:

  • P = payment amount = $1,000
  • I = interest rate = 4%
  • N = number of payments = 18

F = $1,000 x ([1 + 4%]^18 - 1 ) / 4% = $1,000 x (1.04^18 - 1 ) / 4% = $1,000 x (2.026 - 1 ) / 4% =  $1,000 x 1.026 / 4% = $25,650

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Answer:

The first thing that we need to do in this question is find the total capital of the Group. They get their capital from three sources which are bonds, preferred stock and common stock. We need to find the capital provided by each of these 3 sources and add them up. After that we will see what ratio of capital is provided by preferred stock, and this ratio will be the weight of preferred stock as it related to the firms weighted average cost of capital.

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