How much must be deposited into an account to accumulate to $32 000 at 7% compounded semi-annually

Question:

How much must be deposited into an account to accumulate to $32 000 at 7% compounded semi-annually
(a) At the beginning of each month for 20 years?
(b) At the end of each year for 15 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

1. For each of the following, compute the present value (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)): 2. For each of the following, compute...
In discussing future actions regarding strengths, the goal is to come up with strategies that help us build on and benefit from our strengths more than before. In discussing your future actions, you...
A solvent A is to be recovered by distillation from its water solution. It is necessary to produce an overhead product containing 95 mol% A and to recover 95% of the A in the feed. The feed is...
How much must be deposited into an account to accumulate to $32 000 at 7% compounded semi-annually (a) At the beginning of each month for 20 years? (b) At the end of each year for 15 years?
1. In several countries of Africa, a common size for a Coke can is 340 milliliters (mL). Because of the variability of bottling machinery, it is likely that every 340-mL bottle of Coca-Cola does not...
Shareholders of common stock have certain rights and benefits, including the right to receive dividends, the right to vote on corporate issues, the right to limited liability, and the right to...
What is the future value of monthly payments of $50 each for four years and two months at 4.62% compounded monthly if the payments form an annuity due?
A 6-year lease contract valued at $49 350 requires semi-annual payments. If the first payment is due at the date of signing the contract and interest is 9% compounded monthly, what is the amount of...
Which of these are functional interfaces? A. Lion B. Tiger C. Both Lion and Tiger D. Neither is a functional interface. E. The code does not compile. interface } Lion { public void roar(); default...
What are Electrophoresis?
Question : Which of the following statements best describes the concept of "interface segregation" in Java software design? A ) A class should implement as many interfaces as possible to maximize...
Question : In Java, what is the primary advantage of using the "builder pattern" when constructing complex objects? A ) It allows the creation of immutable objects effortlessly. B ) It provides a way...
Question : In Java, what is the main purpose of using the "template method pattern"? A ) To encapsulate the creation of objects in a centralized location. B ) To define the skeleton of an algorithm...
Question: What is the primary benefit of utilizing the "singleton pattern" in Java? A ) It allows multiple instances of a class to be created safely across different threads. B ) It restricts a class...
A sinusoidal electromagnetic wave having a magnetic field of amplitude 1.25T and a wavelength of 432 nm is traveling in the + x-direction through empty space. (a) What is the frequency of this wave?...
Assume Eq. 6-14 gives the drag force on a pilot plus ejection seat just after they are ejected from a plane traveling horizontally at 1300 km/h. Assume also that the mass of the seat is equal to the...
FIFO, LIFO, and Average Cost Inventory Esplanade Company was formed on December 1, 2009. The following information is available from Esplanades inventory records for Product BAP. Units Unit Cost...
Compute FIFO, LIFO, Average Cost?Periodic Presented below is information related to radios for the Couples Company for the month of July. (a) Assuming that the periodic inventory method is used,...
FIFO and LIFO'Periodic and Perpetual The following is a record of Cannondale Company's transactions for Boston Teapots for the month of May 2010. (a) Assuming that perpetual inventories are not...
he due date. The interest charged on a $380000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $22800. $5700. $1900. $11400
Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1, 2015, are as follows: Common stock, $20 stated value...
B2B Co. is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment is expected to cost $374,400 with a 12-year life and no salvage value. It...

How much must be deposited into an account to accumulate to $32 000 at 7% compounded semi-annually

Question:

Step by Step Answer:

a p 1035 016 1 1005750 1 0575 32 000 PMT 100575514653861 32 000 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions