Question
Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $45 at the...
Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $45 at the end of each quarter from his paper route collections. Matt is 8 years old and will use the money when he goes to college in 10 years. What will be the value of Matt's account in 10 years with his quarterly payments if he is earning 5.5% (APR), 9.5 % (APR), or 13.5% (APR)?
Homework Answers
Answer #1
The value of Matt's account in 10 years with his quarterly
payments if he is earning 5.5% (APR), 9.5 % (APR), or 13.5% (APR)
is given below:
Not the answer you're looking for?
Similar Questions
Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $30 at the...
Future value with periodic rates. Matt Johnson delivers
newspapers and is putting away $30 at the end of each quarter from
his paper route collections. Matt is 10 years old and will use the
money when he goes to college in 8 years. What will be the value
of Matt's account in 8 years with his quarterly payments if he is
earning 5.5% (APR), 10.5% (APR), or 12.5% (APR)?
Matt Johnson delivers newspapers and is putting away $50 at the end of each quarter from...
Matt Johnson delivers newspapers and is putting away
$50 at the end of each quarter from his paper route collections.
Matt is 9 years old and will use the money when he goes to college
in 9 years. what will be the value of Matt's account in 9 years
with his quarterly payments if he is earning 5.5% (APR), 10% (APR),
or 13% (APR)?
Matt Johnson delivers newspapers and is putting away $30 at the end of each quarter from...
Matt Johnson delivers newspapers and is putting away $30 at
the end of each quarter from his paper route collections. Matt is
13 years old and will use the money when he goes to college in 5
years. What will be the value of Matt's account in 5 years with
his quarterly payments if he is earning 7% (APR), 8 % (APR), or
13.5 % (APR)?
Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $17 at the...
Future value with periodic rates. Matt Johnson delivers
newspapers and is putting away $17 at the end of each month from
his paper route collections. Matt is 12 years old and will use the
money when he goes to college in 6 years. What will be the value
of Matt's account in 6 years with his monthly payments if he is
earning 5% (APR), 9% (APR), or 13% (APR)? What will be the
value of Matt's account in 6 years...
Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $19 at the...
Future value with periodic rates. Matt Johnson delivers
newspapers and is putting away $19 at the end of each month from
his paper route collections. Matt is 12 years old and will use the
money when he goes to college in 6 years. What will be the value
of Matt's account in 6 years with his monthly payments if he is
earning 6.5% (APR), 8.5 % (APR), or 14.5 % (APR)? What will be
the value of Matt's account in...
Matt Johnson delivers newspapers and is putting away $35 at the end of each quarter from...
Matt Johnson delivers newspapers and is putting away $35 at the
end of each quarter from his paper route collections. Matt is 11
years old and will use the money when he goes to college in 7
years. What will be the value of Matt's account in 7 years with
his quarterly payments if he is earning 7% (APR), 10 % (APR), or
14.5 % (APR)? What will be the value of Matt's account in 7 years
with his quarterly...
Sam Hinds, a local dentist, is going to remodel the dental reception area and add two...
Sam Hinds, a local dentist, is going to remodel the dental
reception area and add two new workstations. He has contacted
A-Dec, and the new equipment and cabinetry will cost $22,000. The
purchase will be financed with an interest rate of 9% loan over 8
years. What will Sam have to pay for this equipment if the loan
calls for semi-annual payments and monthly payments. Compare the
annual cash flows of the two statements. Why does the monthly
payment plan...
Intermediate 1. Multiple compounding periods: Find the future value of an investment of $2,500 made today...
Intermediate
1. Multiple compounding periods: Find the future value of an
investment of $2,500 made today for the following rates and
periods:
a.
6.25 percent compounded semiannually for 12 years
b.
7.63 percent compounded quarterly for 6 years
c.
8.9 percent compounded monthly for 10 years
d.
10 percent compounded daily for 3 years
2. Multiple compounding periods: Find the present value of
$3,500 under each of the following rates and periods.
a.
8.9% compounded monthly for five years.
b. ...
1. John invested $20,000 fifteen years ago with an insurance company that has paid him 8...
1. John invested $20,000 fifteen years ago with an insurance
company that has paid him 8 percent (APR), compounded quarterly
(every 3 months). How much interest did John earn over the 15
years? a. $2,416.08 b. $45,620.62 c. $24,000.00 d. $28,318.95 e.
$65,620.62
2. You are running short of cash and really need to pay your
tuition. A friend suggests that you check out the local title pawn
shop. At the shop they offer to loan you $5,000 if you...
1. For the next 6 years, you pan to make equal quarterly deposits of $600.00 into...
1. For the next 6 years, you pan to make equal quarterly
deposits of $600.00 into an account paying 8% compounded quarterly.
How much will be the total you have at the end of the time?
2. How much money will you have to deposit now if you wish to
have $5,000 at the end of 8 years. Interest is to be at the rate of
6% compounded semiannually?
3. In the California “Million Dollar Lottery” a winner is paid...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 9 minutes ago
asked 9 minutes ago
asked 9 minutes ago
asked 15 minutes ago
asked 34 minutes ago
asked 41 minutes ago
asked 48 minutes ago
asked 55 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago