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

Author Question: Starting in 5 years you want to be able to withdraw $6220 every six months for 7.5 years. You want ... (Read 128 times)

panfilo

  • Hero Member
  • *****
  • Posts: 572
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

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

briseldagonzales

  • Sr. Member
  • ****
  • Posts: 303
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 50% of students answer this correctly


panfilo

  • Member
  • Posts: 572
Reply 2 on: Jun 6, 2019
Excellent

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

The skullcap from Trinil, Java is the type specimen for H. erectus and is about 900,000 years old. The skullcap from Trinil, Java is the type specimen for H. erectus and is about 900,000 years old.
A Bear Automotive starting and charging tester. This tester automatically loads the battery for 15 ... A Bear Automotive starting and charging tester. This tester automatically loads the battery for 15 ...
What rate, compounded once every 3 years, is equivalent to 9% effective rate? What rate, compounded once every 3 years, is equivalent to 9% effective rate?
Earth 200 Million Years Ago Earth 200 Million Years Ago
Sample hypnograms of an infant at ages 3, 12, and 24 months Sample hypnograms of an infant at ages 3, 12, and 24 months
Video: Bacteriophage (Virus) - Mice Experiment

For a complete list of videos, visit our video library