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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 133 times)

09madisonrousseau09

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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
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Marked as best answer by 09madisonrousseau09 on Jun 6, 2019

underwood14

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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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09madisonrousseau09

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Reply #2 on: Jun 6, 2019
Excellent


underwood14

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Reply #3 on: Jun 6, 2019
Great! Please up vote :D


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