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 244 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
Thanks for the timely response, appreciate it

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Simple transposable elements and their mechanism of transposition Simple transposable elements and their mechanism of transposition
Simple food web of an Arctic island. NOTE: The indication of detritivores and pathogens was not part Simple food web of an Arctic island. NOTE: The indication of detritivores and pathogens was not part
How to calculate simple interest (Part 2) How to calculate simple interest (Part 2)
How to calculate RRSP using the annuity formula How to calculate RRSP using the annuity formula
Simple Decorating Techniques: Side masking Simple Decorating Techniques: Side masking
Simple Structure of H I V Simple Structure of H I V
Video: Hemoglobin's affinity with oxygen - carbon dioxide, temperature and bisphosphoglycerate (BPG)

For a complete list of videos, visit our video library