Keys Company has targeted to build up a fund of $50 000. If $10 000 is deposited

Question:

Keys Company has targeted to build up a fund of $50 000. If $10 000 is deposited at the end of every six months, and the fund earns interest at 4% compounded quarterly, how long will it take to reach the target?

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 04:00 AM

See More Questions

How long will it take to build up a fund of $10 000 by saving $300 at the end of every 6 months at 4.5% compounded semi- annually?
How long will it take to build up a fund of $10 000 by saving $300 at the beginning of every 6 months at 4.5% compounded semi-annually?
Keys Company has a target of establishing a fund of $50 000. If $10 000 is deposited at the end of every six months, and the fund earns interest at 4% compounded quarterly, how long will it take to...
Comparative financial statements of the Boeckman Company for 2009 and 2010 are as follows: Comparative Balance Sheets Comparative Income Statements Additional information: The Boeckman Company is...
Consider a normal population with an unknown population standard deviation. A random sample results in = 48.68 and s2 = 33.64. a. Compute the 95% confidence interval for if and s2 were obtained...
Dairy cows at large commercial farms often receive injections of bST (Bovine Somatotropin), a hormone used to spur milk production. Bauman et al. (Journal of Dairy Science, 1989) reported that 12...
Explain how marketing discovers and satisfies consumer needs.
Waldo Entertainment Products, Inc. is negotiating with Disney for the rights to manufacture and sell superhero-themed toys for a three-year period. At the end of year 3, Waldo plans to liquidate the...
I need the solution to this problem. intermadiate calculations. Round your ansmer to the nearest cent
Washington County includes six towns that need emergency ambulance service. Because of the proximity of some of the towns, a single station may serve more than one community. The stipulation is that...
To repay a loan of $35 000, Airial Company pays out $6000 at the end of each year. If interest on the loan is 8% compounded quarterly, how many payments will it take to repay the loan?
You are considering an investment in a technology company similar to Herjavec Group Inc. The new company, Newtech, has experienced impressive growth over the past five years, and further growth is...
What is the nature of the identification problem? Why is it important?
How do you manage global and international teams? What would you do different?
Your friend is super excited about the results of their study! They examined whether different parenting styles [A] resulted in differences in anxiety levels among children. The different levels (a)...
Test the series for convergence or divergence. n=1 e1/n 78 O convergent O divergent
How do employees perceive the organization's vision and mission, and to what extent do these perceptions influence their commitment to the organization ?
In the table below which shows class taken and grade achieved, find the probability that a student selected takes Stat or receives a B grade. Round your answer to three decimal places 40 70 70 50 40...
How does cost accounting become easier in a just-in-time environment?
Why do CPA firms sometimes use a combination of positive and negative confirmations on the same audit?
Life Cycle Costing St. Agatha Company manufactures laser printers. Government agencies have advised the company that for all new products it will have to provide for recycling of used toner...
Discuss the similarities and differences in the graphs of future value A as a function of time t for loans of $4,000, $8,000, and $12,000, respectively, each at 7.5% compounded monthly for 8 years...
If $2,000 is invested in an account that earns 8.25% compounded annually for 5 years, find the interest earned during each year and the amount in the account at the end of each year. Organize your...
If an investment company pays 8% compounded quarterly, how much should you deposit now to have $6,000 (A) 3 years from now? (B) 6 years from now?
Please note, kindly no handwriting. Q. Suppose a 3 year bond with a 6% coupon rate that was purchased for $760 and had a promised yield of 8%. Suppose that interest rates increased and the price of...
Be prepared to explain the texts comprehensive To illustrate the issues related to interest capitalization, assume that on November 1, 2016, Shalla Company contracted Pfeifer Construction Co. to...
On April 1, 2020. Indigo Company received a condemnation award of $473,000 cash as compensation for the forced sale of the company's land and building, which stood in the path of a new state highway....

Keys Company has targeted to build up a fund of $50 000. If $10 000 is deposited

Question:

Step by Step Answer:

FV 50 00000 PMT 10 00000 i 40 4 1 c 42 2 p 101 4 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions