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

Author Question: A sum of money is deposited at the end of every 6 months for 9.5 years at 8% compounded ... (Read 121 times)

RRMR

  • Hero Member
  • *****
  • Posts: 557
on: Jun 6, 2019

Question 1

A man received a separation payment of $98 000.00 at age 56. He invested that sum of money at 8.5% compounded semi-annually until he was 65. At that time he converted the existing balance into an ordinary annuity paying $6150.00 every 6 months, with interest at 5% compounded semi-annually. How many payments will be made?

Question 2

A sum of money is deposited at the end of every 6 months for 9.5 years at 8% compounded semi-annually. After the last deposit, interest for the account is to be 4.5% compounded quarterly and the account is to be paid out by making payments of $4360.00 at the end of each month over 7.75 years. What is the size of the semi-annual deposit?
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 RRMR on Jun 6, 2019

cloud

  • Sr. Member
  • ****
  • Posts: 343
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 25% of students answer this correctly


RRMR

  • Hero Member
  • *****
  • Posts: 557
Reply #2 on: Jun 6, 2019
Thanks


cloud

  • Sr. Member
  • ****
  • Posts: 343
Reply #3 on: Jun 6, 2019
Welcome :)


« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

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

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Crying Frequency in the Early Months In their first months of life, infants often cry for no appare Crying Frequency in the Early Months In their first months of life, infants often cry for no appare
A sidewheeler on the Mississippi. In 1856 Samuel Clemens became an apprentice to a steamboat pilot a A sidewheeler on the Mississippi. In 1856 Samuel Clemens became an apprentice to a steamboat pilot a
Shifts between Warm and Cold Periods during the Last 3 Million Years Shifts between Warm and Cold Periods during the Last 3 Million Years
Parenting Tips for Teen Years Parenting Tips for Teen Years
Siri plans to retire in 18 years and would like to receive $10 000.00 per month for twenty ... Siri plans to retire in 18 years and would like to receive $10 000.00 per month for twenty ...
Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ... Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ...
Video: Bulk flow - Factors that influence bulk flow

For a complete list of videos, visit our video library