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So, it would take 2 years.
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Find the time, to the nearest 0.1 year. the time it would take to accumulate $10,000...
Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $1300/semiannual...
Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $1300/semiannual period for 5 yr at 12%/year compounded semiannually $ Need Help? Read Talk to a Tutor MY NOTES PRACTICE ANOTHER 5. (-/0.1 Points] DETAILS TANAPMATHS 4.2.014. Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $130/month for 14 yr at 7%/year compounded monthly Need Help? Read Talk te Tutor MY NOTES PRACTICE ANOTHER 6. [-70.1 Points) DETAILS TANAPMATHS...
Jessica wants to accumulate $10,000 by the end of 6 years in a special bank account,...
Jessica wants to accumulate $10,000 by the end of 6 years in a special bank account, which she had opened for this purpose. To achieve this goal, Jessica plans to deposit a fixed sum of money into the account at the end of the month over the 6-year period. If the bank pays interest at the rate of 6% per year compounded monthly, how much does she have to deposit each month into her account? (Round your answer to the...
Ms. Alicia Weir has been able to accumulate $10,000 in savings from her end-of-month salary and...
Ms. Alicia Weir has been able to accumulate $10,000 in savings from her end-of-month salary and is seeking to invest this amount plus the regular monthly salary savings of $400 into a suitable investment. Given her risk profile, the People’s Preference Credit Union has been selected as the best financial intermediary to place her funds. The credit union has offered her a high-interest savings account with an interest rate of 8% compounded monthly for the next 4 years for the...
MY NOTES PRACTICE ANOTHER Find the present value of the ordinary annuity. (Round your answer to...
MY NOTES PRACTICE ANOTHER Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $1300/semiannual period for 5 yr at 12%/year compounded semiannually $ Need Help? Read it Tuto a Tutor 5. [0/0.1 Points] DETAILS PREVIOUS ANSWERS TANAPMATHS 4.2.014 MY NOTES PRACTICE ANOTHER Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $130/month for 14 yr at 7%/year compounded monthly $ 222.86 X Need Help? Read Tu te Tutor...
Suppose payments were made at the end of each month into an ordinary annuity earning interest...
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 8%/year compounded monthly. If the future value of the annuity after 14 yr is $70,000, what was the size of each payment? (Round your answer to the nearest cent.) $ Need Help? Read Talk to Tuter 5. (-/0.1 Points) DETAILS TANAPMATH5 4.3.018. MY NOTES PRACTICE ANOTHER Suppose payments will be made for 4 years at the end of each month...
Jen wants to accumulate 400,000 at the end of 16 years. She deposits CX+10,000) into an...
Jen wants to accumulate 400,000 at the end of 16 years. She deposits CX+10,000) into an investment account at the end of each of the first 8 years. She then deposits X into the same account at the end of each of the final 8 years. The interest rate on the account is a 6% nominal rate compounded annually. Find X 7. 8. Keri was offered a choice of two payment options to settle her claims in a car accident...
Suppose you want to accumulate $10,000 for a down payment for a house. You will deposit...
Suppose you want to accumulate $10,000 for a down payment for a house. You will deposit $400 at the beginning of every month in an account that credits interest monthly at the rate of 0.6% per month. How long will it take you to achieve your goal?
Use a loop in Matlab to determine how long it will take to accumulate at least...
Use a loop in Matlab to determine how long it will take to accumulate at least $2,000,000 in a bank account if you deposit $10,000 initially and $10,000 at the end of each year; the account pays 8% annual interest distributed at the end of each year. Tabulate the amount in your bank account at the end of each year in an easy to read manner. Round it off to the nearest whole dollar amount in the balance. If you...
Ryan wants to accumulate at least $55,000 by depositing $1,800 at the end of every month...
Ryan wants to accumulate at least $55,000 by depositing $1,800 at the end of every month into a fund that earns interest at 5.50% compounded monthly. a. How many deposits does he need to make to reach his goal? b. How long will it take Ryan to reach his goal?
MY NOTES PRACTICE ANOTHER Robin, who is self-employed, contributes $5500/year into a Keogh account. How much...
MY NOTES PRACTICE ANOTHER Robin, who is self-employed, contributes $5500/year into a Keogh account. How much will he have in the account after 20 yr If the account earns interest at the rate of 7.5%/year compounded yearly? (Round your answer to the nearest cent.) $ Need Help? Read Talk to Tutor 9. (-/0.1 Points] DETAILS TANAPMATHS 4.2.020. MY NOTES PRACTICE ANOTHER The Pirerras are planning to go to Europe 4 yr from now and have agreed to set aside $170/month...
Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $1300/semiannual period for 5 yr at 12%/year compounded semiannually $ Need Help? Read Talk to a Tutor MY NOTES PRACTICE ANOTHER 5. (-/0.1 Points] DETAILS TANAPMATHS 4.2.014. Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $130/month for 14 yr at 7%/year compounded monthly Need Help? Read Talk te Tutor MY NOTES PRACTICE ANOTHER 6. [-70.1 Points) DETAILS TANAPMATHS...
MY NOTES PRACTICE ANOTHER Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $1300/semiannual period for 5 yr at 12%/year compounded semiannually $ Need Help? Read it Tuto a Tutor 5. [0/0.1 Points] DETAILS PREVIOUS ANSWERS TANAPMATHS 4.2.014 MY NOTES PRACTICE ANOTHER Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $130/month for 14 yr at 7%/year compounded monthly $ 222.86 X Need Help? Read Tu te Tutor...
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 8%/year compounded monthly. If the future value of the annuity after 14 yr is $70,000, what was the size of each payment? (Round your answer to the nearest cent.) $ Need Help? Read Talk to Tuter 5. (-/0.1 Points) DETAILS TANAPMATH5 4.3.018. MY NOTES PRACTICE ANOTHER Suppose payments will be made for 4 years at the end of each month...
Jen wants to accumulate 400,000 at the end of 16 years. She deposits CX+10,000) into an investment account at the end of each of the first 8 years. She then deposits X into the same account at the end of each of the final 8 years. The interest rate on the account is a 6% nominal rate compounded annually. Find X 7. 8. Keri was offered a choice of two payment options to settle her claims in a car accident...
MY NOTES PRACTICE ANOTHER Robin, who is self-employed, contributes $5500/year into a Keogh account. How much will he have in the account after 20 yr If the account earns interest at the rate of 7.5%/year compounded yearly? (Round your answer to the nearest cent.) $ Need Help? Read Talk to Tutor 9. (-/0.1 Points] DETAILS TANAPMATHS 4.2.020. MY NOTES PRACTICE ANOTHER The Pirerras are planning to go to Europe 4 yr from now and have agreed to set aside $170/month...
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