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swat32
3 years ago
7

Your goal is to have $10,000 in your bank account by the end of 15 years. If the interest rate remains constant at 3% and you wa

nt to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal? (Note: Round your answer for PMT to two decimal places.)
Business
1 answer:
aleksandr82 [10.1K]3 years ago
7 0

Answer:

the pmt is $537.67

Explanation:

The computation of the PMT amount is given below;

Given that

FV = $10,000

PV = $0

NPER = 15 years

RATE = 3%

The formula is shown below:

= PMT(RATE, NPER,PV,FV,TYPE)

AFter applying the above formula, the pmt is $537.67

The same should be considered and relevant

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The interest expense for the year ended December 31, 2021, for Blanchard Corporation is b) $9,000.

<h3>How is interest expense computed?</h3>

Interest expense is prorated.  Since Blanchard Corporation issued the notes on April 30, the interest expense for the year will not be for 12 months but only 8 months (May to December).

<h3>Data and Calculations:</h3>

Note payable = $150,000

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Interest expense at December 31, 2021 = $9,000 ($150,000 x 9% x 8/12)

Thus, the interest expense for the year ended December 31, 2021 is b) $9,000.

Learn more about interest expense at brainly.com/question/16134508

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2 years ago
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Answer:

This is an example of Job enrichment

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3 years ago
Shawna offers to type Philip's research paper at the price of $6 per page. Philip's paper will be 20 pages long and will cost hi
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Answer:

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4 years ago
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