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A sinking fund is established by a working couple...
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...
i just need the correct answer A sinking fund is established by a working couple so...
i just need the correct answer
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 she deposits must they make (a) State whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due...
How much must be invested at the beginning of each year at 8%, compounded annually, to...
How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity dhe (b) Solve the problem. (Round your answer to the nearest cent.) $ 2550 X Grandparents plan to open an account on the grandchild's birthday and contribute each month until she goes to college. How much must...
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...
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...
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...
How much must be invested at the beginning of each year at 8%, compounded annually, to...
How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 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 nearest cent.) Jake Werkheiter decides to invest $4000 in an IRA at the end of each year for the next year. If he makes these investments, and...
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...
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.)
Parents agree to invest $600 (at 6%, compounded semiannually) for their son on the December 31...
Parents agree to invest $600 (at 6%, compounded semiannually) for their son on the December 31 or June 30 following each semester that he makes the dean's list during his 4 years in college. If he makes the dean's list in each of the 3 semesters, how much money will his parents have to give him when he graduates? (a) State whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due (6) Solve...
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...
i just need the correct answer
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 she deposits must they make (a) State whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due...
How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity dhe (b) Solve the problem. (Round your answer to the nearest cent.) $ 2550 X Grandparents plan to open an account on the grandchild's birthday and contribute each month until she goes to college. How much must...
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...
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...
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...
How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 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 nearest cent.) Jake Werkheiter decides to invest $4000 in an IRA at the end of each year for the next year. If he makes these investments, and...
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...
Parents agree to invest $600 (at 6%, compounded semiannually) for their son on the December 31 or June 30 following each semester that he makes the dean's list during his 4 years in college. If he makes the dean's list in each of the 3 semesters, how much money will his parents have to give him when he graduates? (a) State whether the problem relates to an ordinary annuity or an annuity due ordinary annuity O annuity due (6) Solve...
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