This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A trust fund will start to pay you $15 200 per year at the beginning of each year once you turn 18. ... (Read 189 times)

notis

  • Hero Member
  • *****
  • Posts: 596
on: Jun 6, 2019

Question 1

Your child is currently six years old. When he turns 19 you want him to be able to withdraw $14700 per year in order to either travel or go to school for four years. If you are able to earn 6.62% compounded semi-annually for the entire time period, what is the single amount of the deposit three years from now that will ensure that your child is able to do this?
◦ $27 877.49
◦ $28 777.49
◦ $29 877.49
◦ $28 877.49
◦ $27 777.49

Question 2

A trust fund will start to pay you $15 200 per year at the beginning of each year once you turn 18. The prevailing interest rate is 8.79% compounded annually. For how long can you receive payments if you are celebrating your 14th birthday today and the current value of your trust fund is $111 345?
◦ 20.97 years
◦ 20.07 years
◦ 24.97 years
◦ 29.07 years
◦ 29.77 years
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by notis on Jun 6, 2019

mathjasmine

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


Zuke

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Dec 2, 2020
thank you


« previous next »
 

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

W-2 form issued to employees at the end of the year. W-2 form issued to employees at the end of the year.
Spring for the Crane and Deer. Beginning position: Legs straight and together, arms at sides of ... Spring for the Crane and Deer. Beginning position: Legs straight and together, arms at sides of ...
Available Fresh Water per year Available Fresh Water per year
Overfished per year Overfished per year
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Translation From Start to Finish Translation From Start to Finish
Video: Bipolar Disorder

For a complete list of videos, visit our video library