Question

What is the size of the payments that must be deposited at the beginning of each...

What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 6.6%, compounded semiannually, so that the account will have a future value of $140,000 at the end of 13 years? (Round your answer to the nearest cent.) $ I

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Detailed answer is provided in the hand written notes below.

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
What is the size of the payments that must be deposited at the beginning of each...
What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 9.8%, compounded semiannually, so that the account will have a future value of $160,000 at the end of 19 years? (Round your answer to the nearest cent.)
What is the size of the payments that must be deposited at the beginning of each...
What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 8.2%, compounded semiannually, so that the account will have a future value of $170,000 at the end of 12 years? (Round your answer to the nearest cent.)
What is the size of the payment that must be deposited at the beginning of each...
What is the size of the payment that must be deposited at the beginning of each quarter in an account that pays 4.2% compounded quarterly, so that the account will have a future value of $111,000.00 at the end of 14 years? The quarterly payments are $________. (Round to 2 decimal places.)
What is the size of the payment that must be deposited at the beginning of each...
What is the size of the payment that must be deposited at the beginning of each quarter in an account that pays 4.2% compounded quarterly, so that the account will have a future value of $111,000.00 at the end of 14 years?
Lee Holmes deposited $15,600 in a new savings account at 11% interest compounded annually. At the...
Lee Holmes deposited $15,600 in a new savings account at 11% interest compounded annually. At the beginning of 4 years, Lee deposited in additional $40,600 at 11% interest compounded semiannually. At the end of 6 years what is the balance in Lee’s account? (Do not round intermediate calculations. Round your answer to the nearest cent.)
How much money must be deposited in saving account each month to accumulate $25,000 at the...
How much money must be deposited in saving account each month to accumulate $25,000 at the end of 6 years , if the bank pays interest at the rate of 8% per year compounded Monthly? Quarterly ?
How much money must be deposited in saving account each month to accumulate $25,000 at the...
How much money must be deposited in saving account each month to accumulate $25,000 at the end of 6 years , if the bank pays interest at the rate of 8% per year compounded a. monthly ? b. quarterly ?
What is the future value of 20 periodic payments of $4,720 each made at the beginning...
What is the future value of 20 periodic payments of $4,720 each made at the beginning of each period and compounded at 8%? What is the present value of $3,440 to be received at the beginning of each of 28 periods, discounted at 5% compound interest? What is the future value of 16 deposits of $2,920 each made at the beginning of each period and compounded at 10%? (Future value as of the end of the 16th period.) What is...
How much must be deposited into an account to accumulate to $32,000 at 7% compounded semiannually...
How much must be deposited into an account to accumulate to $32,000 at 7% compounded semiannually a. at the beginning of each year for 20 years? __________ b. at the end of each month for 20 years? __________ c. If you wish to maximize the amount of interest earned, which option would you prefer?
What equal amount Q must be deposited at the beginning of each year for the next...
What equal amount Q must be deposited at the beginning of each year for the next 5 years in a savings account 10% interest in order to accumulate 1000 at the end of year 6. The value of Q is? First cost for special equipment = $1000 per every 50 years of its life cycle. If n= infinity and I = 9% then it’s EUAC is most nearly: You obtain 1000 loan from the bank. The amount to repay the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT