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

Author Question: The sum of $59 760.00 is invested at 9.5% compounded monthly for four years. After the four years, ... (Read 283 times)

formula1

  • Hero Member
  • *****
  • Posts: 666
on: Jun 6, 2019

Question 1

Mrs. Muirhead paid $27 700.00 into a retirement fund paying interest at 9.32% compounded semi-annually. If she retires in 13.5 years, for how long can Mrs. Muirhead withdraw $5000.00 from the fund every six months? Assume that the first withdrawal is on the date of retirement.

Question 2

The sum of $59 760.00 is invested at 9.5% compounded monthly for four years. After the four years, the balance in the fund is converted into an annuity due paying annually $15 240.00. If interest on the annuity is 9.57% compounded annually, what is the term of the annuity?
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 formula1 on Jun 6, 2019

TINA

  • Sr. Member
  • ****
  • Posts: 336
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 29% of students answer this correctly


formula1

  • Hero Member
  • *****
  • Posts: 666
Reply #2 on: Jun 6, 2019
Excellent


TINA

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Jun 6, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Acromegaly. Acromegaly is a metabolic disorder in which excessive amounts of growth hormone are secr Acromegaly. Acromegaly is a metabolic disorder in which excessive amounts of growth hormone are secr
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.
Poverty rates have declined in the last 50 years, and the biggest decline has been for people 65 and ... Poverty rates have declined in the last 50 years, and the biggest decline has been for people 65 and ...
How to calculate annuity when compounded semi-annually (Part 1) How to calculate annuity when compounded semi-annually (Part 1)
Approximately 40 percent of farmers in the United States are 55 years old or older Approximately 40 percent of farmers in the United States are 55 years old or older
Life Cycle Nutrition: Toddlers through the Later Years Life Cycle Nutrition: Toddlers through the Later Years
Video: Stomach peristalsis - Movement of Food Through the Small Intestine

For a complete list of videos, visit our video library