At the end of each quarter, Andrews Machinery pays $4000 into an account to fund a charity

Question:

At the end of each quarter, Andrews Machinery pays $4000 into an account to fund a charity event. If interest earned on the account is 1.95% compounded annually, how much would the account balance be in five years?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Question Posted: Feb 26, 2016 03:58 AM

See More Questions

At the end of each year, Threads Crafts Inc. pays $1000 into a savings account. If interest earned on the account is 3.24% compounded monthly, what would the account balance be in four years?
One Product Corp. (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were: The...
To save for Harmans post-secondary education starting in 18 years, his family deposits $1200 at the beginning of every year into an education fund earning interest at 4.15% compounded annually. (a)...
A contract is started on 1 January 2015, with an estimated completion date of 31 December 2016. The final contract price is $1,500,000. In the first year, to 31 December 2015: Costs incurred...
What is the minimum sample size n required to estimate p with 95% confidence if the desired margin of error E = 0.08 ? The population proportion is estimated as = 0.36 from prior studies. What...
At the beginning of June 2017, Brett Wilson created a moving company called Frog Box Company. The company had the following transactions during July, its second month of operations: July 1. Purchased...
Given the following percentage costs of carrying inventory, calculate the annual carrying cost if the average inventory is $1 million. Capital costs are 10%, storage costs are 6%, and risk costs are...
The effective capacity and efficiency for the next quarter at MMU Mfg. in Waco, Texas, for each of three departments are shown: Compute the expected production for next quarter for eachdepartment....
how to calculate the salary for : person whos annnual salary is 70 000. social security is 6.2% on the first 128400 of earnings in calendar year-per employee. Medicare 1.455 no upper limit and per...
Private consumption as a share of GDP is a random quantity that follows a roughly normal distribution. According to an article in Business Week, for the United States that was about 71%. Assuming...
Clarks younger brother has saved $18 per month from his paper route for the past two years. If interest is 4% compounded quarterly, how much will he have accumulated in his savings account?
To attend school, Sam deposits $1500 at the end of every six months for four and one-half years. What is the accumulated value of the deposits if interest is 6% com- pounded quarterly?
One slip system for the HCP crystal structure is {0001}(1120). In a manner similar to Figure 7.6b, sketch a {0001}-type plane for the HCP structure and, using arrows, indicate three different (1120)...
If the dose rate from a sample of Ga-67 is 0.052 mSv per hour at a distance of 1.1 m, then what would be dose rate at 3.5 m ?
A 1.6x10^9 p/s point source of Po210-Be source of 4.5 MeV is stored behind a X cm of paraffin, the dose equivalent rate is not to exceed 0.10 mSvh-1h at a distance of 1m. What is the X cm needed to...
X 10 Let A = -9 y 7 4 Z 210 If the kernel of A contains the vector what are x, y, and z? -2
8-22. E.O.Q., Carrying cost = Storing cost + Interest. Following data are available with respect to a certain material. Annual requirement.......... Cost to place an order.. Annual interest rate. _...
A new company started production. Job 1 was completed, and Job 2 remains in production. Here is the information from the job cost sheets from their first and only jobs so far: Job 1 Hours Total Cost...
What are the four mutually exclusive categories used in activity-based cost accounting?
For the following arrangements, discuss whether they are 'in substance' lease transactions, and thus fall under the ambit of IAS 17.
Return to Example 20.11 (on page 754), in which Google was contemplating issuing zerocoupon debt due in 16 months with a face value of $163.5 billion, and using the proceeds to pay a special...
Use the revenue and cost functions from Problem 64 in this exercise: R(x) = x-(2,000 - 60x) Revenue function C(x) = 4,000 + 500x: Cost function where x is thousands of computers, and R(x)and C(A:)...
Find the distance from the center that the rate of flow is 30 centimeters per second. Round answer to two decimal places. Problem67 The French Physician Poiseuille was the first to discover that...
The table gives performance data for a boat powered by an Evinrude outboard motor. Find a quadratic regression model (y = ax2 + bx + c)for fuel consumption y (in miles per gallon) as a function of...
Selected comparative financial statement data for DAS inc. Balance Sheet (En milliers de dollars) 2017 2018 Assets Assets CT - Cash 41.63 47.5 - Accounts Receivable 64.2 72.6 - inventories 969.7...
please help!! One chance at turning in!!! 16 rows! I'd highly appreicate it I am unsure what information you need... I provided all Current Attempt in Progress Mike Greenberg opened Grouper Window...
Blue Ridge Marketing Inc. manufactures two products, A and B . Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is...

At the end of each quarter, Andrews Machinery pays $4000 into an account to fund a charity

Question:

Step by Step Answer:

PMT 500000 i 195 1 00195 00195 n 54 c 14 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions