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A sinking fund is established by a working couple so...
A sinking fund is established by a working couple so that they will have $60,000 to...
A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end o each 3-month period for 16 years, and if interest is paid at 14%, compounded quarterly, what size deposits must they make? (a) State whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due (b) Solve the problem (Round...
need corrections please ty answers only please A sinking fund is established by a working couple...
need corrections please ty
answers only please
A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end of each 3-month period for 16 years, and interest is paid at 14%, compounded quarterly, what sie deposits must they make? (a) State whether the problem relates to an ordinary annuity or an annuity dur. ordinary annuity annuity due...
just need the correct answer Grandparents plan to open an account on their grandchild's birthday and...
just need the correct answer
Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month In an investment that pays 11%, compounded monthly, if they want the balance to be $160,000 at the end of 18 years? (a) state whether the problems relates to an ordinary annuity or an annuity dur. O ordinary anvity annuity due (1) Solve the problem...
Mr. Gordon plans to invest $200 at the end of each month in an account that...
Mr. Gordon plans to invest $200 at the end of each month in an account that pays 12%, compounded monthly. After how many months will the account be worth $50,0007 (a) state whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity annuity due (6) Solve the problem. (Round your answer up to the nearest month.) months Sam deposits $900 at the end of every month in an account that pays 7%, compounded monthly. How...
A couple is planning their 3 year old son's college education. They established a college fund...
A couple is planning their 3 year old son's college education. They established a college fund that earns 12% compounded quarterly. What annual deposit must be made from the son's 3 birthday (now) to his 18th birthday to meet the future college expenses of 1,000 monthly fron the 19th birthday to the 21th birthday of their son?
A state lottery pays $10,000 at the beginning of each month for 20 years. How much...
A state lottery pays $10,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 8.2%, compounded monthly (a) Decide whether the problem relates to an ordinary annuity or an annuity due. annuity due O ordinary annuity () Solve the problem. (Round your awer to the nearest cont.) $ Recent sales of some real estate and record profits make...
Grandparents plan to open an account on their grandchild's birthday and contribute each month until she...
Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month in an investment that pays 11%, compounded monthly, if they want the balance to be $160,000 at the end of 18 years (a) State whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity annuity due (b) solve the problem. (Round your answer to the...
Jane Adele deposits $700 in an account at the beginning of each 3-month period for 9...
Jane Adele deposits $700 in an account at the beginning of each 3-month period for 9 years. If the account pays interest at the rate of 12%, compounded quarterly, how much will she have in her account after 9 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. (b) Solve the problem. (Round your answer to the nearest cent.)
Please choose one answer A,B,C or D thank you. Suppose that a young couple has just...
Please
choose one answer A,B,C or D thank you.
Suppose that a young couple has just had their first baby and they wish to insure that enough money will be available to pay for their child's college education. They decide to make deposits into an educational savings account on each of their daughter's birthdays, starting with her first birthday. Assume that the educational savings account will return a constant 9%. The parents deposit S2 300 on their daughter's first birthday...
Recent sales of some real estate and record profits make it possible for a manufacturer to...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $900,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 5 years if the fund earns 7.3%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) Solve the problem. (Round your...
A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end o each 3-month period for 16 years, and if interest is paid at 14%, compounded quarterly, what size deposits must they make? (a) State whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due (b) Solve the problem (Round...
need corrections please ty
answers only please
A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end of each 3-month period for 16 years, and interest is paid at 14%, compounded quarterly, what sie deposits must they make? (a) State whether the problem relates to an ordinary annuity or an annuity dur. ordinary annuity annuity due...
just need the correct answer
Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month In an investment that pays 11%, compounded monthly, if they want the balance to be $160,000 at the end of 18 years? (a) state whether the problems relates to an ordinary annuity or an annuity dur. O ordinary anvity annuity due (1) Solve the problem...
Mr. Gordon plans to invest $200 at the end of each month in an account that pays 12%, compounded monthly. After how many months will the account be worth $50,0007 (a) state whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity annuity due (6) Solve the problem. (Round your answer up to the nearest month.) months Sam deposits $900 at the end of every month in an account that pays 7%, compounded monthly. How...
A state lottery pays $10,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 8.2%, compounded monthly (a) Decide whether the problem relates to an ordinary annuity or an annuity due. annuity due O ordinary annuity () Solve the problem. (Round your awer to the nearest cont.) $ Recent sales of some real estate and record profits make...
Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month in an investment that pays 11%, compounded monthly, if they want the balance to be $160,000 at the end of 18 years (a) State whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity annuity due (b) solve the problem. (Round your answer to the...
Please
choose one answer A,B,C or D thank you.
Suppose that a young couple has just had their first baby and they wish to insure that enough money will be available to pay for their child's college education. They decide to make deposits into an educational savings account on each of their daughter's birthdays, starting with her first birthday. Assume that the educational savings account will return a constant 9%. The parents deposit S2 300 on their daughter's first birthday...
Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $900,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 5 years if the fund earns 7.3%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) Solve the problem. (Round your...
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