Question

Leon Jackson invests $37,500 at 10% annual interest, leaving the money invested without withdrawing any of...

Leon Jackson invests $37,500 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Leon withdraws the accumulated amount of money.

Compute the amount Leon would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.)

Compute the amount Leon would withdraw assuming the investment earns interest compounded annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Compute the amount Leon would withdraw assuming the investment earns interest compounded semiannually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Alan Jackson invests $58,700 at 8% annual interest, leaving the money invested without withdrawing any of...
Alan Jackson invests $58,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Alan withdraws the accumulated amount of money. Compute the amount Alan would withdraw assuming the investment earns simple interest? Compute the amount Alan would withdraw assuming the investment earns interest compounded annually? Compute the amount Alan would withdraw assuming the investment earns interest compounded semiannually.
4)  Henry Bryant invests $37,000 at 6% annual interest, leaving the money invested without withdrawing any of...
4)  Henry Bryant invests $37,000 at 6% annual interest, leaving the money invested without withdrawing any of the interest for 6 years. At the end of the 6 years, Henry withdraws the accumulated amount of money. a)  Compute the amount Henry would withdraw assuming the investment earns simple interest. b)  Compute the amount Henry would withdraw assuming the investment earns interest compounded annually. c)  Compute the amount Henry would withdraw assuming the investment earns interest compounded semiannually.  
Jozy Altidore invested $7,300 at 12% annual interest, and left the money invested without withdrawing any...
Jozy Altidore invested $7,300 at 12% annual interest, and left the money invested without withdrawing any of the interest for 11 years. At the end of the 11 years, Jozy withdrew the accumulated amount of money. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What amount did Jozy withdraw, assuming the investment earns simple interest? Accumulated amount $16936 (b) What amount did Jozy withdraw, assuming the investment earns interest compounded annually? (Round answer...
Coronado Altidore invested $9,500 at 6% annual interest, and left the money invested without withdrawing any...
Coronado Altidore invested $9,500 at 6% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Coronado withdrew the accumulated amount of money. Click below to view the factor tables. Table 1. Future Value of 1 Table 2. Future Value of an Annuity of 1 Table 3. Present Value of 1 Table 4. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places...
Problem 6-5 Julia Baker died, leaving to her husband Leon an insurance policy contract that provides...
Problem 6-5 Julia Baker died, leaving to her husband Leon an insurance policy contract that provides that the beneficiary (Leon) can choose any one of the following four options. Money is worth 2.50% per quarter, compounded quarterly. Compute Present value if: Click here to view factor tables (a) $55,240 immediate cash. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Present value $ 55240 (b) $4,090 every 3 months payable at...
Leon Quincy wants to withdraw $31,500 each year for 14 years from a fund that earns...
Leon Quincy wants to withdraw $31,500 each year for 14 years from a fund that earns 9% interest. Click here to view factor tables How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.).    A) first withdraws at year end? B) First withdrawal immediately?
1, Leon Taylor is settling a $19,080 loan due today by making 6 equal annual payments...
1, Leon Taylor is settling a $19,080 loan due today by making 6 equal annual payments of $4,640.74. Click here to view factor tables Determine the interest rate on this loan, if the payments begin one year after the loan is signed. (Round answer to 0 decimal places, e.g. 8%.) 2, Sally Alvarez is investing $395,500 in a fund that earns 9% interest compounded annually. Click here to view factor tables What equal amounts can Sally withdraw at the end...
1- Serena Willis will invest $27,700 today. She needs $42,972 in 9 years. What annual interest...
1- Serena Willis will invest $27,700 today. She needs $42,972 in 9 years. What annual interest rate must she earn? 2- Gary Bautista needs $27,000 in 3 years. What amount must he invest today if his investment earns 12% compounded annually? What amount must he invest if his investment earns 12% annual interest compounded quarterly? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Investment at 12% annual interest, compounded quarterly...
Using the appropriate interest table, compute the present values of the following periodic amounts due at...
Using the appropriate interest table, compute the present values of the following periodic amounts due at the end of the designated periods. Click here to view factor tables $50,440 receivable at the end of each period for 8 periods compounded at 11%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Present value $ Click here to view factor tables $50,440 payments to be made at the end of each period...
Using the appropriate interest table, answer the following questions. (Each case is independent of the others.)...
Using the appropriate interest table, answer the following questions. (Each case is independent of the others.) What is the future value of 24 periodic payments of $4,660 each made at the beginning of each period and compounded at 8%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The future value $ What is the present value of $2,600 to be received at the beginning of each of 30 periods, discounted...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT