Tarin will make savings deposits at the end of every year for 10 years. The first deposit
Question:
Tarin will make savings deposits at the end of every year for 10 years. The first deposit will be $1000. Subsequent deposits will increase by 2% annually, to match her expected annual wage increases. If her funds earn 4.75% compounded annually, how much will Tarin have at the end of 10 years?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
The payments represent an ordinary ...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ 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. Assuming the deathclock.com projection is accurate, Cory is concerned about getting back as much as possible of his Social Security taxes. At what age can he retire and receive full Social...
-
Mary and Steve are both exactly 20 years old. Mary will deposit $1000 at the end of every year for the next 40 years, until age 60, into her retirement fund. Steve is going to wait until age 40 to...
-
The first case at the end of this chapter and numerous subsequent chapters is a series of integrative cases involving Wal-Mart Stores, Inc. (Walmart). The series of cases applies the concepts and...
-
Suppose that the vice president of marketing asks you to write a program to create labels for a onetime advertising promotion. As IT manager, you know that the labels can be prepared more efficiently...
-
Helium undergoes a Stirling refrigeration cycle, which is a reverse Stirling power cycle. At the beginning of isothermal compression helium is at 100 kPa, 275 K. The compression ratio is 4 and during...
-
An uninsulated steam pipe is used to transport high-temperature steam from one building to another. The pipe is of 0.5-m diameter, has a surface temperature of 150C, and is exposed to ambient air at...
-
1. ETHICS Virtually any TV show, movie, or song can be downloaded for free on the Internet. Most of this material is copyrighted and was very expensive to produce. Most of it is also available for a...
-
Record Sales Gross and Net On June 3, Bolton Company sold to Arquette Company merchandise having a sale price of $2,000 with terms of 2/10, n/60 f.o.b. shipping point. An invoice totaling $90, terms...
-
Question 20 5 / 5 pts Mason's Bike Repair is expected to pay a dividend in year 1 of $1.00, a dividend in year 2 of $1.75, and a dividend in year 3 of $2.50. After year 3, dividends are expected to...
-
There is a lottery with n coupons and n people take part in it. Each person picks exactly one coupon. Coupons are numbered consecutively from 1 to n, n being the maximum ticket number. The winner of...
-
A $20,000 investment will be allowed to grow at 4.5% compounded semiannually until it can support semiannual withdrawals of $1000 for 20 years. Rounded to the nearest month, how long before the first...
-
The common shares of Unicorp. are forecast to pay annual dividends of $2 at the end of each of the next five years, followed by dividends of $3 per year in perpetuity. What is the fair market value...
-
Complete the square to write the equation of the sphere in standard form. Find the center and radius. x + y + z - 10x + 6y - 4z + 34 = 0
-
What strategies are not appropriate for import and tariff quotas? a. Export to the same target market b. Develop products to export that will not be subject to quotas c. Produce goods and services in...
-
An investor forms a portfolio of two stocks, Alpha and Beta. Information regarding the two stocks is shown below: Stock Expected Return Alpha 6% Standard Deviation 25% 30% Bravo 8% The correlation...
-
whiuch oral hypoglycemic agent would be safest for an older patient if hypoglycemia is a mojor concern? tolbutamide glipizide metformin glimepiride
-
Consider: U.S. T-Bill return = 3% S&P 500 expected return = 10% Portfolio Beta = 0.5 Requirements (answer in the same order and indicate each question's number): 1. Calculate the market risk premium...
-
New Tek has a sustainable growth rate of 11.2 percent. However, the firm's managers are determined that the firm should grow by at least 20 percent next year. What must the firm do if the managers...
-
1. How is the interest rate per period determined from the annual interest rate? 2. Explain how compound interest works?
-
What are the three kinds of research types? Explain each type.
-
Do the relationships between the adiposity measures and serum estradiol persist after controlling for the other breast-cancer risk factors in list items 1 to 6?
-
It is well known that African American women have higher levels of obesity than Caucasian women. Are there differences between estradiol levels for African American women and Caucasian women after...
-
1. Perform the analysis just suggested for weight. Is there a significant association between the rate of growth (b) and mean HgbA1c (h)? 2. Repeat the analysis in Problem 11.100 for height? 3....
-
According to John Jackson blank have led to increase need for customer information and service
-
It can help promote change and creativity in organizations as well as "unified diversity." What is it? Strategic Ambiguity Utilitarianism Aristotle's Golden Mean No answer text provided.
-
Both physical and safety are encompassed by workplace safety. OA) psychological B) regulated OC) legal OD) informal OE) future
Study smarter with the SolutionInn App