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

Author Question: Sam got a job at the Brick. He plans to save $500 every month for 3 years to buy a car. The savings ... (Read 235 times)

asan beg

  • Hero Member
  • *****
  • Posts: 570
on: Jun 6, 2019

Question 1

OPG has set up a fund to help pay the expenses for the monitoring of Pickering nuclear power plant once it is in safe storage. The balance in the fund today is $700 million, and it will earn interest at 7% compounded annually. Starting 10 years from now, $100 million will be withdrawn from the fund at the beginning of every year for 30 years. What is the annually compounded interest rate for the fund during the final 30 years?
◦ 0.72%
◦ 4.33%
◦ 0.67%
◦ 6.61%
◦ 7%

Question 2

Sam got a job at the Brick. He plans to save $500 every month for 3 years to buy a car. The savings account earns 2.25% compounded monthly. If he puts the money in his savings account at the beginning of each month, what will be the balance in the account at the end of the three-year term?
◦ $18 603.37
◦ $17 390.19
◦ $18 600.50
◦ $18 638.25
◦ $18 408.04
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 asan beg on Jun 6, 2019

yahahah24021

  • Sr. Member
  • ****
  • Posts: 323
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


asan beg

  • Member
  • Posts: 570
Reply 2 on: Jun 6, 2019
Gracias!

okolip

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

China's proposed supercollider plans to be twice the size of the Large Hadron Co China's proposed supercollider plans to be twice the size of the Large Hadron Co
Women who reported one, two, or three or more major life events in the past 5 years were ... Women who reported one, two, or three or more major life events in the past 5 years were ...
Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ... Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ...
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?
Beak size in finches during dry years increases because of strong selection Beak size in finches during dry years increases because of strong selection
What amount was invested 35 years ago at 7% compounded semiannually if the value of the ... What amount was invested 35 years ago at 7% compounded semiannually if the value of the ...
Video: Interpreting a cladogram Animation

For a complete list of videos, visit our video library