For how long must $75 be deposited at the end of each month to accumulate to $9500

Question:

For how long must $75 be deposited at the end of each month to accumulate to $9500 at 6.5% compounded quarterly?

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

Song Corp's stock price at the end of last year was $26.25 and its earnings per share for the year were $1.30. What was its P/E ratio?
Here is the article "Why Psychologists Must Change the Way They Analyze Their Data: The Case of Psi: Comment on Bem (2011)" Read this article and write a summary on it.
The sharp separation of benzene and cyclohexane by distillation at ambient pressure is impossible because of the formation of an azeotrope at 77.6oC. K.C. Chao [Ph.D. thesis, University of Wisconsin...
For how long must $75 be deposited at the end of each month to accumulate to $9500 at 6.5% compounded quarterly?
Trinity Clinic has identified three activities for daily maternity care: occupancy and feeding, nursing, and nursing supervision. The nursing supervisor oversees 150 nurses, 25 of whom are maternity...
Score: 0 of 4 pts 6 of 10 (2 complete) HW Score: 10%, 4 of 40 pts Problem 7.LO4.43 Question Help What is the price of a 4-year, 8.3% coupon rate. $1,000 face value bond that pays Interest annually if...
How much must be contributed into an RRSP at the end of each year for 25 years to accumulate to $100 000 if interest is 8% compounded quarterly?
What is the accumulated value after 12 years of monthly deposits of $145 earning interest at 5% compounded semi-annually if the deposits are made at the end of each month?
Hose plc is trying to make a decision on whether to make a commitment of 800,000 now to a project with a life of seven years. At present prices the project will return net cash flows of 150,000 per...
Calmex is situated in North India. It specializes in manufacturing overhead water tanks. The management of Calmex has identified a niche market in certain Southern cities that need a particular size...
Two players, Amy and Beth, play the following game with a jar containing 100 pennies. The players take turns; Amy goes first. Each time it is a player's turn, she takes between 1 and 10 pennies out...
A population consists of the five numbers 2, 3, 6, 8 and 11. Consider samples of size 2 that can be drawn from this population. a. List all the possible samples and the corresponding mean. Sample Mean
The terms "normal" and "inferior" are: Multiple choice question. the same for everyone, irrespective of income. used interchangeably. subjective to the incomes of people. based on the product sales...
A company wants to investigate if the average rating of consumers for a particular product is greater than 4.5 (on a scale of 1 to 10). They collect a random sample of 35 consumers and ask them to...
An L-R.C series circuit consists of a source with voltage amplitude 120 V and angular frequency 50.0 radls, a resistor with R = 400 an inductor with L = 9.00 H, and a capacitor with capacitance C....
Given that all the choices are true, which one concludes the paragraph with a precise and detailed description that relates to the main topic of the essay? A. NO CHANGE B. Decades, X-ray C. Decades...
Baden Corporation entered into a lease agreement for 10 photocopy machines for its corporate headquarters. The lease agreement qualifies as an operating lease in all terms except there is a...
On January 1, 2011, Perriman Company sold equipment for cash and leased it back. As seller-lessee, Perriman retained the right to substantially all of the remaining use of the equipment. The term of...
On December 31, 2010, Shell hammer Co. sold 6-month old equipment at fair value and leased it back. There was a loss on the sale. Shell hammer pays all insurance, maintenance, and taxes on the...
Read "The Preference for Belief Consonance" journal article (required reading in Week 3). As you read the article, take notes using the provided T-Chart. Submit your completed T-Chart with your notes...
7 Exercise 3. A company is looking at launching a new business line and is considering the following options: country A or country B, with the following initial investments and expected cash flows:...
Belinda purchased a 120-day $200,000 bank bill (at a simple interest rate) on 14 March 2022. The purchase price was $197,000. She sold this bank bill on 22 April 2022. (b) Assume that Belinda sold...

For how long must $75 be deposited at the end of each month to accumulate to $9500

Question:

Step by Step Answer:

FV 950000 PMT 7500 i 1625 c 412 13 p 101625 16 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions