Deposits were placed at the beginning of every month for eight years into an account which...
Deposits were placed at the beginning of every month for eight years into an account which earned 8% compounded semiannually. If $20,000 accumulated at the end of the eight years, determine the size of the deposits.
Homework Answers
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Deposits were placed at the beginning of every month for eight
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1. Deposits of $1200.00 are being made at the beginning of every 3 months for 10...
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You have decided to place $416 in equal deposits every month at the beginning of the...
You have decided to place $416 in equal deposits every month at the beginning of the month into a savings account earning 3.04 percent per year, compounded monthly for the next 11 years. The first deposit is made today. How much money will be in the account at the end of that time period? Round the answer to two decimal places.
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Luis deposits $130.00 into his retirement fund at the beginning of every month for 16 years....
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every 3 months for 10 years. At the end of the 10 year term the
accumulated amount is left in the fund for a further 5 years (the
deposits have stopped). What is the maturity value at the end of
the 15 year term if the interest rate for the full period is 5.25%
compounded semiannually?
2. Find the monthly payments for a mortgage of $200,000 that
is to...
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