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 198 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?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi
Snow Leopard cubs at the Cat Survival Trust, Welwyn, UK. Snow Leopard cubs at the Cat Survival Trust, Welwyn, UK.
Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f
To check for voltage at terminal 30, use a test light or a voltmeter. Start by connecting the ... To check for voltage at terminal 30, use a test light or a voltmeter. Start by connecting the ...
Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ... Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ...
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, ...
Video: Stages of Mitosis - Prophase, Prometaphase, Metaphase, Anaphase & Telophase

For a complete list of videos, visit our video library