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

Author Question: If a loan was repaid by quarterly payments of $715.00 over 7 years at 8.36% compounded quarterly, ... (Read 221 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
on: Jun 6, 2019

Question 1

A trust fund is set up to make payments of $1320.00 at the end of each month for seven years. Interest on the fund is 7.28% compounded monthly.
a) How much money must be deposited into the fund?
b) How much will be paid out of the fund?
c) How much interest is earned by the fund?

Question 2

If a loan was repaid by quarterly payments of $715.00 over 7 years at 8.36% compounded quarterly, how much money had been borrowed?
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 oliviahorn72 on Jun 6, 2019

deja

  • Sr. Member
  • ****
  • Posts: 332
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 56% of students answer this correctly


oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jun 6, 2019
Thank you!


deja

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 6, 2019
Always glad to help...


« previous next »
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

A levallois core from Kapedo Tuffs, Kenya dates about 130,000 years ago. A levallois core from Kapedo Tuffs, Kenya dates about 130,000 years ago.
Abundant cave art after about 30,000 years ago is evidence of the importance of symbolic behavior fo Abundant cave art after about 30,000 years ago is evidence of the importance of symbolic behavior fo
Correctly administering and interpreting an intelligence test is a skill that takes many years for ... Correctly administering and interpreting an intelligence test is a skill that takes many years for ...
How to calculate annuity when compounded semi-annually (Part 1) How to calculate annuity when compounded semi-annually (Part 1)
How to calculate regular payments or deposits using the annuity formula (Question 1) How to calculate regular payments or deposits using the annuity formula (Question 1)
How to calculate mortgage payments (Question 1 of 2) How to calculate mortgage payments (Question 1 of 2)
Video: Neuron structure and function - sensory neurons, association neurons & motor neurons

For a complete list of videos, visit our video library