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: Sep 21, 2024 05:20 AM

See More Questions

Suppose that two stocks whose rates of return are given by the two-factor arbitrage pricing model r= a +31 +42 r2 = 02 +241 +2, where a, and a2 are constants. Furthermore, there is a risk-free asset...
Write an essay about ethics and communication, focusing on an ethical issue involving communication, mass media, or the digital world. The writing should first identify two or more resolutions, set...
Two infinite planes of charge lie parallel to each other and to the yz plane. One is at x = 2 m and has a surface charge density of = 3.5 C/m2. The other is at x = 2 m and has a surface charge...
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...
Dave and Ann Stone have been living at their present home for the past 6 years. During that time, they have replaced the water heater for $375, have replaced the dishwasher for $599, and have had to...
Required: A pension plan is obligated to make disbursements of $ 1 . 7 million, $ 2 . 7 million, and $ 1 . 7 million at the end of each of the years, respectively. The annual interest rate is 8 % ....
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?
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?
How does an MLP type neural network learn?
Calc 2-Math 166 r = 5 inches. What is the surface area of the aquarium? (Hint: Consider a 3. (14 points) An aquarium is in the form of a lower hemisphere with radius lower hemisphere as being...
The atomic radii of a divalent cation and a monovalent anion are 0.51 nm and 0.134 nm, respectively. (a) Calculate the force of attraction between these two ions at their equilibrium interionic...
Hazel had worked for the same Fortune 500 company for almost 15 years. Although the company had gone through some tough times, things were starting to turn around. Customer orders were up, and...
What are all the steps to initiating, planning, implementing and closing phases of bathroom remodeling?
CHAPTER 5 PROFIT PLANNING AND COST-VOLUME-PROFIT ANALYSIS 210 Required: 1. Average contribution margin ratio. 2. Composite breakeven point in units and in pesos. 3. Allocation of composite breakeven...
Point A oscillates with an acceleration a = 100 (0.25 ? x), where a and x are expressed in m/s2 and meters, respectively. Knowing that the system starts at time t = 0 with v = 0 and x = 0.2 m,...
For Problem estimate the change in y for the given change in x. y = f(x), f'(12) = 30, x increases from 12 to 12.2
(Three Differences, Compute Taxable Income, Entry for Taxes) Havaci Company reports pretax financial income of $80,000 for 2010. The following items cause taxable income to be different than pretax...
(Two Temporary Differences, One Rate, Beginning Deferred Taxes) The following facts relate to Alschuler Corporation. 1. Deferred tax liability, January 1, 2010, $40,000. 2. Deferred tax asset,...
(Identify Temporary or Permanent Differences) Listed below are items that are commonly accounted for differently for financial reporting purposes than they are for tax purposes. For each item below,...
1: Write an essay covering the following points; Characteristics of management accounting The role of management accountant in the company How can management accounting benefit to the company? The...
Project A Year Cumulative Project B Cumulative Cash Flow Cash Flow Cash Flow Cash Flow 0 -400.00 -400.00 -575.00 -575.00 1 95.00 -305.00 150.00 -425.00 2 110.00 -195.00 200.00 -225.00 3 118.00 -77.00...
Exercise 13-30 (Algorithmic) (LO. 5) Basu owns 100% of an S corporation. This year, the corporation paid Basu a salary of $131,000. Basu's share of S corporation income for the year was $52,400....

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 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions