Question

If $3500 is deposited at the end of each quarter in an account that earns 4%...

If $3500 is deposited at the end of each quarter in an account that earns 4% compounded quarterly, after how many quarters will the account contain $80,000? (Round your answer UP to the nearest quarter.)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
$3,500 is deposited at the end of each quarter in an account that earns 6% compounded...
$3,500 is deposited at the end of each quarter in an account that earns 6% compounded quarterly until $100,000 has accumulated in the account. This scenario describes the  ---Select--- Future Value of an Annuity Due Future Value of an Ordinary Annuity . From the formula in the textbook, all values are known, except for  ? R S i n . After how many quarters will the account contain $100,000? (Round your answer UP to the nearest quarter.)
If $7000 is deposited at the end of each half year in an account that earns...
If $7000 is deposited at the end of each half year in an account that earns 6.1% compounded semiannually, after how many half years will the account contain $120,000? (Round your answer UP to the nearest half year.)
If $9000 is deposited at the end of each half year in an account that earns...
If $9000 is deposited at the end of each half year in an account that earns 6.1% compounded semiannually, after how many half years will the account contain $130,000? (Round your answer UP to the nearest half year.) half years=
If $8000 is deposited at the end of each half year in an account that earns...
If $8000 is deposited at the end of each half year in an account that earns 6.7% compounded semiannually, how long will it be before the account contains $130,000? (Round your answer to one decimal place.) Find the future value of an annuity due of $900 each quarter for 8 1/2 years at 11%, compounded quarterly .
A small business owner contributes $2000 at the end of each quarter to a retirement account...
A small business owner contributes $2000 at the end of each quarter to a retirement account that earns 4% compounded quarterly. (a) How long will it be until the account is worth $150,000? (Round your answer UP to the nearest quarter.) (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $8000 at the end of each quarter. What will the total value of the account be after 15 more years? (Round your answer to the...
A small business owner contributes $1000 at the end of each quarter to a retirement account...
A small business owner contributes $1000 at the end of each quarter to a retirement account that earns 8% compounded quarterly. (a) How long will it be until the account is worth $150,000? (Round your answer UP to the nearest quarter.) I'm coming up with 70.0055 but the answer is incorrect.   (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $5000 at the end of each quarter. What will the total value of the account...
If $4000 is deposited at the end of each half year in an account that earns...
If $4000 is deposited at the end of each half year in an account that earns 6.1% compounded semiannually, how long will it be before the account contains $100,000? (Round your answer to one decimal place.)
Suppose a young couple deposits $500 at the end of each quarter in an account that...
Suppose a young couple deposits $500 at the end of each quarter in an account that earns 6.8%, compounded quarterly, for a period of 9 years. How much is in the account after the 9 years? (Round your answer to the nearest cent.) $= After the 9 years, they start a family and find they can contribute only $200 per quarter. If they leave the money from the first 9 years in the account and continue to contribute $200 at...
If $3000 is deposited at the end of each half year in an account that earns...
If $3000 is deposited at the end of each half year in an account that earns 6.4% compounded semiannually, how long will it be before the account contains $120,000? (Round your answer to one decimal place.) yr -
Joe Blow deposits $2,400 at the end of each quarter for 35 years into an account...
Joe Blow deposits $2,400 at the end of each quarter for 35 years into an account paying 11% compounded quarterly. How much is in Joe's account at the end of the 35 years? (Round your answer to the nearest cent.) $ (b) How much interest does Joe earns on his deposits? $
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT