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

Author Question: Kelly is saving $1600.00 at the beginning of each month. How soon can he retire if he wants to have ... (Read 115 times)

tiara099

  • Hero Member
  • *****
  • Posts: 588
on: Jun 6, 2019

Question 1

A sum of money is deposited at the beginning of each year for 3 years at 12% compounded annually. After the last deposit interest for the account is to be 8.24% compounded quarterly and the account is to be paid out by payments of $370.00, made at the beginning of each quarter for nine years. What is the size of the annual deposit?

Question 2

Kelly is saving $1600.00 at the beginning of each month. How soon can he retire if he wants to have a retirement fund of $345 000.00 and interest is 11.04% compounded monthly?
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 tiara099 on Jun 6, 2019

Expo

  • Sr. Member
  • ****
  • Posts: 351
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 26% of students answer this correctly


tiara099

  • Member
  • Posts: 588
Reply 2 on: Jun 6, 2019
YES! Correct, THANKS for helping me on my review

flexer1n1

  • Member
  • Posts: 373
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

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.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

The Dederiyeh I infant from Syria preserves nearly the entire skeleton of a 17- to 19- month-old Nea The Dederiyeh I infant from Syria preserves nearly the entire skeleton of a 17- to 19- month-old Nea
Ellsworth Kelly, Three Panels: Orange, Dark Gray, Green. Ellsworth Kelly, Three Panels: Orange, Dark Gray, Green.
A typical beginning technician tool set that includes the basic tools to get started. A typical beginning technician tool set that includes the basic tools to get started.
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Philip wants to supplement his pension by $415 per month with income from his investments. His ... Philip wants to supplement his pension by $415 per month with income from his investments. His ...
Video: Cardiac Cycle (Part 3 of 4)

For a complete list of videos, visit our video library