Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $170 into a...
Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $170 into a trust fund every six months until Robin was twenty dash one years old. The trust fund provides for equal withdrawals at the end of each six months for two years, beginning six months after the last deposit. If interest is 5.66% compounded semi dash annually, how much will Robin receive every six months?
Robin will receive $
Homework Answers
Calculating Future Value at age 21,
Using TVM Calculation,
FV = [PV = 0, PMT = 170, N = 42, I = 0.0566/2]
FV = $13,388.19
Calculating Semi-Annual Withdrawal,
Using TVM Calculation,
PMT = [PV = 13,388.19, FV = 0, N = 4, I = 0.0566/2]
PMT = $3,587.15
Semi-Annual Withdrawal = $3,587.15
Add Answer to:
Starting six months after her grandson Robin's birth, Mrs.
Devine made deposits of $170 into a...
Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $240 into a...
Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $240 into a trust fund every six months until Robin was twenty-one years old. The trust fund provides for equal withdrawals at the end of each six months for four years, beginning six months after the last deposit. If interest is 5.87% compounded semi-annually, how much will Robin receive every six months? Robin will receive $___ ? (Round the final answer to the nearest cent as needed....
Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $95 into a...
Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $95 into a trust fund every three months until Robin was twenty-one years old. The trust fund provides for equal withdrawals at the end of each quarter for two years, beginning three months after the last deposit. If interest is 5.49 % compounded quarterly, how much will Robin receive every three months ?
Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $110 into a...
Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $110 into a trust fund every three months until Robin was eighteen years old. The trust fund provides for equal withdrawals at the end of each quarter for three years, beginning three months after the last deposit. If interest is 6.19% compounded quarterly, How much will Robin receive every three months?
Deposits of $96.00 are made at the end of every six months for 9.5 years. What...
Deposits of $96.00 are made at the end of every six months for 9.5 years. What will the deposits amount to if interest is 9% compounded semi-annually? The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Jean receives annuity payments at the end of every six months. If she deposits these payments...
Jean receives annuity payments at the end of every six months. If she deposits these payments in an account earning interest at 9% compounded monthly, what is the equivalent semi-annually compounded rate of interest? What sum of money must be deposited at the end of every 3 months into an account paying 6% compounded monthly to accumulate to $25,000 in 10 years? Irina deposited $150 in a savings account at the end of each month for 60 months. If the...
Math of Finance A company wanted to raise $100, 000 and issued twenty, $5000 bonds paying...
Math of Finance A company wanted to raise $100, 000 and issued twenty, $5000 bonds paying a 10% coupon rate payable semi-annually for 5 years. It set up a sinking fund to repay the debt at the end of 5 years and made deposits at the end of every six months into the fund. The sinking fund was earning 6.5% compounded semi-annually. (a) calculate the periodic cost of the debt (b) calculate the book value of the debt after 3...
3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest,...
3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest, they found out that they may withdraw P350,000 yearly for 4 years starting at the end of 7 years when their child will be in college. How much is the fund deposited if the interest rate is 3% compounded annually? 4. A group of employees decided to invest a portion of their bonus. After 3 months from today,...
1. You won $100 000 in a lottery and you want to set some of that...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
I need help on question 4. Time Value of Money Exercise: Question 1: Assume you deposit $700 every three months at erce...
I need help on question 4.
Time Value of Money Exercise: Question 1: Assume you deposit $700 every three months at ercent annual rate, compounded $700 every three months at a 6 percent am much will you have at the end of 20 years? Question 2: You borrow a five-year $13.000 loan with monthly percentage rate (APR) on the loan? 3,000 loan with monthly payments of $250. What is the annual Question 3: How much would you have to invest...
vin otel2 Binmolile 5. Assume ABC Company deposits $90.000 with First National Bank in an account...
vin otel2 Binmolile 5. Assume ABC Company deposits $90.000 with First National Bank in an account earning interest at 6% per annum, compounded semi-annually. How much will ABC have in the account after five years if interest is reinvested? a. $120,953. b. $90,000. c. $117,000. d. $120,442. Lnsbut2 ma nsbie 6. Charlie Corp. is purchasing new equipment with a cash cost of $300,000 for an assembly line. The manufacturer has offered to accept $68,900 payment at the end of each...
Deposits of $96.00 are made at the end of every six months for 9.5 years. What will the deposits amount to if interest is 9% compounded semi-annually? The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Jean receives annuity payments at the end of every six months. If she deposits these payments in an account earning interest at 9% compounded monthly, what is the equivalent semi-annually compounded rate of interest? What sum of money must be deposited at the end of every 3 months into an account paying 6% compounded monthly to accumulate to $25,000 in 10 years? Irina deposited $150 in a savings account at the end of each month for 60 months. If the...
3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest, they found out that they may withdraw P350,000 yearly for 4 years starting at the end of 7 years when their child will be in college. How much is the fund deposited if the interest rate is 3% compounded annually? 4. A group of employees decided to invest a portion of their bonus. After 3 months from today,...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
I need help on question 4.
Time Value of Money Exercise: Question 1: Assume you deposit $700 every three months at ercent annual rate, compounded $700 every three months at a 6 percent am much will you have at the end of 20 years? Question 2: You borrow a five-year $13.000 loan with monthly percentage rate (APR) on the loan? 3,000 loan with monthly payments of $250. What is the annual Question 3: How much would you have to invest...
vin otel2 Binmolile 5. Assume ABC Company deposits $90.000 with First National Bank in an account earning interest at 6% per annum, compounded semi-annually. How much will ABC have in the account after five years if interest is reinvested? a. $120,953. b. $90,000. c. $117,000. d. $120,442. Lnsbut2 ma nsbie 6. Charlie Corp. is purchasing new equipment with a cash cost of $300,000 for an assembly line. The manufacturer has offered to accept $68,900 payment at the end of each...
Most questions answered within 3 hours.
-
without using map
1. Write a C++ program to find out the top 10 words in...
asked 50 seconds ago -
A physics major is cooking breakfast when he notices that the
frictional force between the steel...
asked 4 minutes ago -
1)Calculate the percent ionization of a
0.330 M solution of hypochlorous
acid.
% Ionization = %...
asked 3 minutes ago -
A cyclohexane (c-hex) solution is prepared by fully dissolving
9.11g of a newly synthesized organic compound...
asked 10 minutes ago -
SCHEME :-)
[5 marks] Write a procedure called convert that takes as
arguments: a temperature value...
asked 16 minutes ago -
Are
Acetyl CoA and Pyruvate biological molecules that are used to get
ATP energy in aerobic...
asked 18 minutes ago -
Two waves are traveling on a string, one with a wave function,
y1 = 0.05sin(4x -...
asked 25 minutes ago -
Develop an ideal customer profile for three Dell Customer
groups( a supplier, a global business, and...
asked 27 minutes ago -
Suppose, for any future year, the probability its October rain
is more than 3 inches is...
asked 32 minutes ago -
Solve the following systems of linear equations using
substitution 12p + 3q = 15 6q +...
asked 39 minutes ago -
Prof. D went grocery shopping and purchased one dozen eggs and
one pound of flour (all...
asked 46 minutes ago -
If
somehow loop of Henle were removed - that is if the proximal tubule
was connected...
asked 46 minutes ago