Homework Answers
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I used the formula 1+r+r^2+r^3+......+r^(n-1)=(r^n-1)/(r-1) in the
fifth lines (from last) in our problem n=64 and r=1+(3.5/100) .
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A sinking fund is established by a working couple so that they will have $60,000 to...
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...
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...
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...
Sepia Inc. issued bonds for $350,000 that were redeemable in 9 years. They established a sinking...
Sepia Inc. issued bonds for $350,000 that were redeemable in 9 years. They established a sinking fund that was earning 4.49% compounded semi-annually to pay back the principal of the bonds on maturity. Deposits were being made to the fund at the end of every 6 months. a. Calculate the size of the periodic sinking fund deposit. $0.00 Round your answer up to the next cent b. Calculate the sinking fund balance at the end of the payment period 12....
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?
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...
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...
A sinking fund is established to discharge a debt of $50,000 in 25 years. If deposits...
A sinking fund is established to discharge a debt of $50,000 in 25 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 4%, compounded semiannually, what is the amount of each deposit? (Round your answer to the nearest cent.)
QUESTION 4 Find the amount of each payment to be made into a sinking fund so...
QUESTION 4 Find the amount of each payment to be made into a sinking fund so that enough money will be able to pay off a loan of $34,050 due in 9 years if money is earns 4.50% compounded annually. Assume this to be an ordinary annuity. A. $3,152.16 B. $2,770.95 C. $3,630.06 D. $3,184.39 QUESTIONS If Russell wanted to start making payments today, what would be the amount of each payment into a sinking fund so that enough money...
9. 12 points HarMathAp11 6.4.039 My Notes Ask Your Teacher Juanita Domingo's parents want to establish...
9. 12 points HarMathAp11 6.4.039 My Notes Ask Your Teacher Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $2500, with the first withdrawal 3 months from now. If money is worth 7%, compounded quarterly, how much must be deposited now to provide for this trust? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. o ordinary annuity 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...
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...
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...
Sepia Inc. issued bonds for $350,000 that were redeemable in 9 years. They established a sinking fund that was earning 4.49% compounded semi-annually to pay back the principal of the bonds on maturity. Deposits were being made to the fund at the end of every 6 months. a. Calculate the size of the periodic sinking fund deposit. $0.00 Round your answer up to the next cent b. Calculate the sinking fund balance at the end of the payment period 12....
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...
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...
QUESTION 4 Find the amount of each payment to be made into a sinking fund so that enough money will be able to pay off a loan of $34,050 due in 9 years if money is earns 4.50% compounded annually. Assume this to be an ordinary annuity. A. $3,152.16 B. $2,770.95 C. $3,630.06 D. $3,184.39 QUESTIONS If Russell wanted to start making payments today, what would be the amount of each payment into a sinking fund so that enough money...
9. 12 points HarMathAp11 6.4.039 My Notes Ask Your Teacher Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $2500, with the first withdrawal 3 months from now. If money is worth 7%, compounded quarterly, how much must be deposited now to provide for this trust? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. o ordinary annuity annuity due (b) Solve the problem. (Round...
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