(Solved) Jonathan, a student at Local University, has decided to major in accounting because his goal is to ...

Jonathan, a student at Local University, has decided to major in accounting because his goal is to become an FBI agent. Jonathan knows that accounting is one of the entry programs that qualify an applicant for a special agent career. As most students do, Jonathan wants to purchase a nice car when he graduates in five years with his master's degree. Because his expected salary will be good, he wants a high-performance sports car. He has found the car of his dreams for $58,000. Jonathan's parents have promised him a graduation present of $25,000 when he finishes his master's degree.

Required:

a.	Calculate how much money Jonathan needs to deposit in his savings account today to

be able to pay cash for the car upon graduation, assuming that his parents contribute what Jonathan expects. Jonathan can earn 8% on his deposit, compounded annually.

b.	Calculate how much money Jonathan needs to deposit in his savings accountant today

to be able to pay cash for the car upon graduation, assuming that his parents contribute what Jonathan expects. Jonathan can earn 8% on his deposit, compounded semi-annually.

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

Jonathan, a student at Local University, has decided to major in accounting because his goal is to ...

Managerial Accounting

Related Topics