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

Author Question: Siri plans to retire when her simple annuity savings account has enough money to receive $10 000.00 ... (Read 286 times)

cdr_15

  • Hero Member
  • *****
  • Posts: 546
on: Jun 6, 2019

Question 1

Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement savings account paying him a long-term interest of 9% compounded monthly. What will be the size of his payments at the start of each month from the ordinary simple annuity for 20 years following his retirement?
◦ $8682
◦ $8618
◦ $965 020
◦ $957 836
◦ $2000

Question 2

Siri plans to retire when her simple annuity savings account has enough money to receive $10 000.00 per month for twenty years starting at the start of the first month after her retirement. She starts saving $4420 per month. Calculate when should Siri retire from today if her savings account pays 4.9% compounded monthly.
◦ 1.41 years
◦ 18 years
◦ 2.41 year
◦ 36 years
◦ 216 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 cdr_15 on Jun 6, 2019

upturnedfurball

  • Sr. Member
  • ****
  • Posts: 334
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 50% of students answer this correctly


cdr_15

  • Member
  • Posts: 546
Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

ktidd

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Oldowan tools are simple flake tools struck from a core. Oldowan tools are simple flake tools struck from a core.
A Simple Neural Model of Classical Conditioning A Simple Neural Model of Classical Conditioning
Students and Money Students and Money
Models of simple transposition and replicative 3′ transposition Models of simple transposition and replicative 3′ transposition
Simple Mathematical Rules Useful in Working Genetics Problems Simple Mathematical Rules Useful in Working Genetics Problems
Micrographs and drawings of three types of simple epithelia, with examples of their functions and lo Micrographs and drawings of three types of simple epithelia, with examples of their functions and lo
Video: Arthritis

For a complete list of videos, visit our video library