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Author Question: Starting in 5 years you want to be able to withdraw $6220 every six months for 7.5 years. You want ... (Read 94 times)

panfilo

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on: Jun 6, 2019

Question 1

You start to save for a major purchase. You can invest $500 every three months for 10 years. You are able to earn 8% compounded semi-annually. What is the amount of interest that you earn during the entire term?
◦ $25 072.94
◦ $20 072.94
◦ $10 072.94
◦ $30 072.94
◦ $15 072.94

Question 2

Starting in 5 years you want to be able to withdraw $6220 every six months for 7.5 years. You want to deposit a single amount immediately and then let it grow at a rate of 4.88% compounded quarterly. How much do you have deposit?
◦ $62 116.62
◦ $62 216.62
◦ $61 126.62
◦ $61 216.62
◦ $62 226.62
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by panfilo on Jun 6, 2019

briseldagonzales

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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.
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panfilo

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Reply 2 on: Jun 6, 2019
Thanks for the timely response, appreciate it

cam1229

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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