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Author Question: Kelly is saving $1600.00 at the beginning of each month. How soon can he retire if he wants to have ... (Read 95 times)

tiara099

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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
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Marked as best answer by tiara099 on Jun 6, 2019

Expo

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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.
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tiara099

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Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

bbburns21

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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