« previous next »

Author Question: Use the appropriate formula to find how much you should deposit now at 9 interest, compounded ... (Read 60 times)

j.rubin

  • Hero Member
  • *****
  • Posts: 557
on: Jun 24, 2018
Use the appropriate formula to find how much you should deposit now at 9 interest, compounded annually, to yield an annuity payment of 1,200 at the BEGINNING of each year, for 18 years.
 A) 10,252.36
  B) 7,870.92
  C) 7,486.12
  D) 11,452.36

Question 2

Use the appropriate formula to find the amortization payment you would need to make each three months, at 8 interest compounded quarterly, to pay off a loan of 8,000 in 6 years.
 A) 1,730.52
  B) 422.97
  C) 1,288.29
  D) 316.61


sultana.d

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

j.rubin

  • Hero Member
  • *****
  • Posts: 557
Reply #2 on: Jun 24, 2018
Thank you


sultana.d

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 24, 2018
No problemo


« previous next »
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Find the final amount if the initial amount is 400 units. Find the final amount if the initial amount is 400 units.
How to find the domain of a function (Part 2) How to find the domain of a function (Part 2)
How to find the equation of a line passing through two points How to find the equation of a line passing through two points
Find derivative using product rule Find derivative using product rule
A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ... A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ...
Find the curved line Find the curved line
Video: Vascular tissues in a corn stem and a buttercup root

For a complete list of videos, visit our video library