The future value of an annuity is $100,000. To achieve this total, an investor made end-of-year investments

Question:

The future value of an annuity is $100,000. To achieve this total, an investor made end-of-year investments of $1658.87 earning 5.2% compounded annually. How many annual investments were made?

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

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

See More Books

Question Posted: Oct 21, 2020 05:01 AM

See More Questions

1. Suppose someone offered you your choice of two equally risky annuities, each paying $5,000 per year for 5 years. One is an annuity due, while the other is a regular (or deferred) annuity. If you...
Assume that you have applied for a job with a bank. As part of the banks evaluation process, you have been asked to take an assessment that covers several financial analysis techniques. For each...
1. Ken recently got a raise. He decided to save all the extra money in a special account. His raise amounts to $150 every 2 weeks (26 times per year). The account earns 5.2% annually compounded every...
Tom Lamont, age 30, and Lin Lamont, age 31, have been married for six years. They got married right after Tom graduated from college. They have come to you for help in planning their financial...
A steam power plant operates on the following cycle producing a net power of 25 MW. Steam enters the turbine at 16 MPa, 550oC and enters the condenser as saturated mixture at 10 kPa. Sub cooled...
Identify different types of crowdfunding AppendixLO1
In the equation E1y2 = b0 + b1 x, what is the value of b1 if x has no linear relationship to y? LO9
Presented below is a list of balance sheet accounts in alphabetical order. Accounts payable .................. Inventories Accounts receivable ................. Land (in use) Accumulated...
Product A has a sales price of $20 per unit. Based on a 12,000-unit production level, the variable costs are $11 per unit and the fixed costs are $8 per unit. Using a flexible budget for 14,500...
20. Up to how many hosts can be placed in the subnet which currently reads 'XX' hosts? 192.168.0.0/25 113 Hosts 192.168.1.128/27 XX Hosts Ans: 192.168.1.160/30 2 Hosts 192.168.0.128/25 70 Hosts...
What beginning-of-month withdrawals can a $400,000 RRIF (Registered Retirement Income Fund) sustain for 20 years if the investments within the RRIF earn 3.6% compounded monthly?
A $50,000 loan was advanced today. What payment is required at the end of every month for the next seven years to fully repay the debt if the interest rate on the loan is 7.5% compounded a. Monthly?...
In biomes less suited for agriculture, what natural food sources are available for humans?
Use the information below to answer the next question. Below are different graphs that could represent the magnitude of an Electric Field from a source. Teza E Distance E 4 Tza E Taza 2 Distance 5 3...
Factor out the GCF: 36c5 +54c8
Demonstrate that a circle with a radius of r has a circumference of 2 pi ( r ) . HINT: Begin by examining the equation for the upper semicircle, utilize the arc length formula, and then double the...
Graph the function f(x) = 3.x - 7.
Vine plc. produces a single product. The following information on inventory, purchases, and sales are available for the month of January 2018. DATE TRANSACTION NUMBER OF UNITS UNIT COST...
Why dont we just always define a vector with a large enough size for all eventualities?
(a) Given a mean free path = 0.4 nm and a mean speed vav = 1.17 105 m/s for the current flow in copper at a temperature of 300 K, calculate the classical value for the resistivity of copper. (b)...
Is there a difference in incidence according to duration of use (Variables 14 and 15)? Cancer The data set in file BREAST.DAT consists of 1200 women in the NHS. The women were ascertained in 1990 and...
Determine the number of classes of a histogram for 1500 observations.
It wont come as a surprise to hockey fans that with each passing season the number of goals scored is decreasing. Many experts blame goalie equipment. The oversized pads and other protection for...
Which of the following programs covers custodial care? A HMOs B Medicare Part B C PPOs D Medicare Part A E Medicaid
uppose a taxpayer has exhausted his lifetime exclusion amount and has $14 million. a. Assuming a flat 40% gift tax rate, what is the maximum amount a taxpayer can transfer to her daughter (and still...
Physical Units Method, Relative Sales Value Method Farleigh Petroleum, Inc., is a small company that acquires high - grade crude oil from low - volume production wells owned by individuals and small...

The future value of an annuity is $100,000. To achieve this total, an investor made end-of-year investments

Question:

Step by Step Answer:

Given The annuity has 28 annual payments Its term ...View the full answer

Fundamentals Of Business Mathematics In Canada

Students also viewed these Mathematics questions