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

Author Question: When Nancy died, she left $20 000 for her 13 year old grandson, Max, to be paid to him as an annual ... (Read 211 times)

09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
on: Jun 6, 2019

Question 1

Sam received a lump sum of $135 000 as an inheritance from his great grandmother. He plans to invest them for 20 years in a long-term investment fund with an expected rate of return of 9% compounded monthly. After 20 years, what payment can he withdraw at the beginning of each month for 10 years?
◦ $66 985
◦ $7245
◦ $10 200
◦ $2955
◦ $4161

Question 2

When Nancy died, she left $20 000 for her 13 year old grandson, Max, to be paid to him as an annual scholarship of $8000 at the beginning of each year, if he ends up in the university. The inheritance was invested in a scholarship fund for 5 years at 9% compounded annually. How long will the scholarship be paid, once Max enters the university?
◦ 3 years
◦ 7 years
◦ 4 years
◦ 5 years
◦ 6 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 09madisonrousseau09 on Jun 6, 2019

underwood14

  • Sr. Member
  • ****
  • Posts: 346
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 39% of students answer this correctly


09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
Reply #2 on: Jun 6, 2019
Excellent


underwood14

  • Sr. Member
  • ****
  • Posts: 346
Reply #3 on: Jun 6, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Anatomically modern humans left archaeological clues, including evidence of burials, which indicate Anatomically modern humans left archaeological clues, including evidence of burials, which indicate
Infant: 4 weeks to 1 year. Infant: 4 weeks to 1 year.
The left-hand rule states that if a coil is grasped with the left hand, the fingers will point in ... The left-hand rule states that if a coil is grasped with the left hand, the fingers will point in ...
The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ... The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ...
Effleurage as a finishing and transition technique. Finish the left side with effleurage moving back ... Effleurage as a finishing and transition technique. Finish the left side with effleurage moving back ...
Chorionic villus sampling (left) and amniocentesis (right) Chorionic villus sampling (left) and amniocentesis (right)
Video: Replication of DNA and Chromosomes/ How do cells replicate their DNA? (Animation) no Audio

For a complete list of videos, visit our video library