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

Author Question: When Nancy died, she left $20 000 for her 13 year old grandson, Max, to be paid to him as an annual ... (Read 187 times)

09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
on: Jun 6, 2019

Question 1

Sam received a lump sum of $135 000 as an inheritance from his great grandmother. He plans to invest them for 20 years in a long-term investment fund with an expected rate of return of 9% compounded monthly. After 20 years, what payment can he withdraw at the beginning of each month for 10 years?
◦ $66 985
◦ $7245
◦ $10 200
◦ $2955
◦ $4161

Question 2

When Nancy died, she left $20 000 for her 13 year old grandson, Max, to be paid to him as an annual scholarship of $8000 at the beginning of each year, if he ends up in the university. The inheritance was invested in a scholarship fund for 5 years at 9% compounded annually. How long will the scholarship be paid, once Max enters the university?
◦ 3 years
◦ 7 years
◦ 4 years
◦ 5 years
◦ 6 years
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 09madisonrousseau09 on Jun 6, 2019

underwood14

  • Sr. Member
  • ****
  • Posts: 346
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 39% of students answer this correctly


09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
Reply #2 on: Jun 6, 2019
Excellent


underwood14

  • Sr. Member
  • ****
  • Posts: 346
Reply #3 on: Jun 6, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

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?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Annual Rings Annual Rings
Internal structures of main sequence stars, convection zones with arrowed cycles and radiative zones Internal structures of main sequence stars, convection zones with arrowed cycles and radiative zones
Left Brain, Right Brain Left Brain, Right Brain
The hatred and vengeance of adults become the children’s heritage. The headband of this 4-year-old ... The hatred and vengeance of adults become the children’s heritage. The headband of this 4-year-old ...
Left Atrium Left Atrium
A 230.0-mL sample of a 0.275 M solution is left on a hot plate overnight; the following morning ... A 230.0-mL sample of a 0.275 M solution is left on a hot plate overnight; the following morning ...
Video: Secretin (inhibiting gastric acid secretion), Cholecystokinin (fat digestion) & Cholecystokinin

For a complete list of videos, visit our video library