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 334 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 childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Snow Leopard cubs at the Cat Survival Trust, Welwyn, UK. Snow Leopard cubs at the Cat Survival Trust, Welwyn, UK.
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ... Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ...
Portrait of Typical 12-year-old Boy and Girl, 1981 and 2007-2009 Portrait of Typical 12-year-old Boy and Girl, 1981 and 2007-2009
Video: Metaphase I Animation

For a complete list of videos, visit our video library