The future value of an annuity is $100,000. To achieve this total, an investor made end-of-year investments
Question:
The future value of an annuity is $100,000. To achieve this total, an investor made end-of-year investments of $1658.87 earning 5.2% compounded annually. How many annual investments were made?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
Given The annuity has 28 annual payments Its term ...View the full answer
Answered By
NIRMAL KUMAR
3 yr experience of online tutoring through various platforms
0.00
0 Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
1. Suppose someone offered you your choice of two equally risky annuities, each paying $5,000 per year for 5 years. One is an annuity due, while the other is a regular (or deferred) annuity. If you...
-
Assume that you have applied for a job with a bank. As part of the banks evaluation process, you have been asked to take an assessment that covers several financial analysis techniques. For each...
-
1. Ken recently got a raise. He decided to save all the extra money in a special account. His raise amounts to $150 every 2 weeks (26 times per year). The account earns 5.2% annually compounded every...
-
Tom Lamont, age 30, and Lin Lamont, age 31, have been married for six years. They got married right after Tom graduated from college. They have come to you for help in planning their financial...
-
A steam power plant operates on the following cycle producing a net power of 25 MW. Steam enters the turbine at 16 MPa, 550oC and enters the condenser as saturated mixture at 10 kPa. Sub cooled...
-
To steady a sign as it is being lowered, two cables are attached to the sign at A. Using trigonometry and knowing that = 25, determine (a) The required magnitude of the force P if the resultant R of...
-
What was the major fraud scheme used by the Baptist Foundation of Arizona? a. Ponzi scheme b. Created many fake purchase orders c. Improperly capitalized a number of expenses d. Bill and hold...
-
Fernando Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials and conversion costs are incurred evenly throughout the process. For the...
-
Triple Bottom Line Assignment: You work for a firm, Green Battery Inc., which has just created a battery that uses no acid. Your boss, Ms. Valerie Voltmann, wants you to investigate what triple...
-
Consider the following activities and their durations. The original project schedule. using early activity starts. is shown in Figure 11.20. Reconfigure the network using critical chain project...
-
What beginning-of-month withdrawals can a $400,000 RRIF (Registered Retirement Income Fund) sustain for 20 years if the investments within the RRIF earn 3.6% compounded monthly?
-
A $50,000 loan was advanced today. What payment is required at the end of every month for the next seven years to fully repay the debt if the interest rate on the loan is 7.5% compounded a. Monthly?...
-
Although an incandescent lightbulb appears to shine with constant intensity, this is an artifact of the eye's persistence of vision. In fact, the intensity of a bulb's light rises and falls with time...
-
Quanta Inc. has a beta of 1.5. The market risk premium is 7% and the risk-free rate is 3%. Assuming that the market is in equilibrium and the stock currently sells for $30 a share, Quanta just paid...
-
Anzac Corporation issued preference shares 8 years ago at a par value of $10.00 per share. If preference shares are paying $1.36 in dividends per year and the current market price is $10.16, what is...
-
Ultrasonic Company manufactures ultrasound equipment. Based on past experience, Ultrasonic has found that total annual repair and maintenance cost can be represented by the following formula: Total...
-
The on-going pandemic i.e. Covid - 19 has affected the global financial market substantially. Major economies have announced the emergencies in their countries. Many manufacturing units have stopped...
-
An investment company is offering the following investment options: -Real Estate Fund 60%, 40% Bonds -Global, small capitalisation equities fund -Singapore Treasury Bond fund -South-east Asia small...
-
The matrices in Exercises 1-2 are absorbing stochastic matrices in standard form. In each, identify R and S and compute the fundamental matrix and the stable matrix? 1. 2. 3. .5
-
APC16550D UART has a clock running at18.432 MHz and its baud rate is set to 2000.Determine the HEX contents of its DLM and DLL registers. Please can you explain step by step and in detail how you get...
-
Is there a difference in incidence according to duration of use (Variables 14 and 15)? Cancer The data set in file BREAST.DAT consists of 1200 women in the NHS. The women were ascertained in 1990 and...
-
Determine the number of classes of a histogram for 1500 observations.
-
It wont come as a surprise to hockey fans that with each passing season the number of goals scored is decreasing. Many experts blame goalie equipment. The oversized pads and other protection for...
-
Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for...
-
(Prepared from a situation suggested by Professor John W. Hardy.) Lone Star Meat Packers is a major processor of beef and other meat products. The company has a large amount of T-bone steak on hand,...
-
Financial information for American Eagle is presented in Appendix A, and financial information for Buckle is presented in Appendix B. Required: 1. Calculate the cash holdings ratio for both companies...
Study smarter with the SolutionInn App