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Author Question: Solve the problem. Round up to the nearest dollar. You would like to have $52,000 in 5 years for the ... (Read 72 times)

cool

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on: Feb 2, 2020

Question 1

Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest?

A = A = P =

Periodic Deposit: $? at the end of every three months
Rate: 4.25% compounded quarterly
Time: 5 years
Financial Goal: $70,000
◦ $2351; $47,020 from deposits and $22,980 from interest
◦ $3764; $37,640 from deposits and $32,360 from interest
◦ $3496; $69,920 from deposits and $80 from interest
◦ $3160; $63,200 from deposits and $6800 from interest

Question 2

Solve the problem. Round up to the nearest dollar.

You would like to have $52,000 in 5 years for the down payment on a new house following college graduation by making deposits at the end of every three months in an annuity that pays 4.25% compounded quarterly. How much should you deposit at the end of every three months? How much of the $52,000 comes from deposits and how much comes from interest?
◦ $2796; $27,960 from deposits and $24,040 from interest
◦ $2347; $46,940 from deposits and $5060 from interest
◦ $2597; $51,940 from deposits and $60 from interest
◦ $1746; $34,920 from deposits and $17,080 from interest
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
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Marked as best answer by cool on Feb 2, 2020

momtoalll

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Reply #1 on: Feb 2, 2020
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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cool

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Reply 2 on: Feb 2, 2020
Thanks for the timely response, appreciate it

Dnite

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

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