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Author Question: Planning for their child's college education, David and Carol Roberts opened an account paying 6.36% ... (Read 1103 times)

wenmo

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on: Jun 6, 2019

Question 1

You have inherited some money and you want to set some of that money aside for ten years. After ten years, you would like to receive $7600.00 at the end of each 6 months for nine years. If the interest is 6.5% compounded semi-annually, how much of your inheritance must you set aside?

Question 2

Planning for their child's college education, David and Carol Roberts opened an account paying 6.36% compounded monthly. If ordinary annuity payments of $700.00 per month are to be paid out of the account for three years starting seven years from now, how much did the Roberts' deposit?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by wenmo on Jun 6, 2019

jesse.fleming

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Reply #1 on: Jun 6, 2019
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wenmo

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Reply #2 on: Jun 6, 2019
Thanks


jesse.fleming

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Reply #3 on: Jun 6, 2019
Welcome :)


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Reply #4 on: Sep 11, 2019
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