A biologist decided that she wanted to have $$ 54,267.89$ in her account in 10 years, and

Question:

A biologist decided that she wanted to have $\$ 54,267.89$ in her account in 10 years, and she found a bank which compounded monthly at $6 \%$. What are her monthly payments to achieve her goal of $\$ 54,267.89$ ?

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Decision Making For Engineers

ISBN: 9780300192186

1st Edition

Authors: Colin K. Drummond

See More Books

Question Posted: Apr 20, 2024 05:00 AM

See More Questions

1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Evaluate the following double integral over the region R. SS2(x7 y7) dA; R = {(x,y): 0x1,-1sy 1} R Evaluate the integral. SS2(x - y7) dA = (Type an exact answer.) R
Joe rents his condo for $1,500 per month. Total rental and personal use days for the current year was 210 days and 20 days, respectively. What are the tax consequences for Joe?
Zeta Corporation's taxable income for 2012 was $1.5 million, on which Zeta paid federal income taxes of $510,000. Zeta estimates calendar year 2013's taxable income to be $2 million, on which it will...
Suppose you invest a fixed sum of money in each of five Internet business ventures. Assume you know that 70% of such ventures are successful, the outcomes of the ventures are independent of one...
Use a technology tool to find the standard deviation of the set of 36 sample means. How does it compare with the standard deviation of the ages?
The Bettinghaus Corporation began business on January 2, 2010, with five employees. It created a sick leave and vacation policy stated as follows: Each employee is allowed eight days of paid sick...
Sweet Companys outstanding stock consists of 1,700 shares of cumulative 4% preferred stock with a $100 par value and 11,700 shares of common stock with a $10 par value. During the first three years...
How many years will it take for your savings account to accumulate $\$ 1,000,000$ if it pays $4 \%$ interest per annum compounded semiannually and you deposit $\$ 10,000$ every 6 -months at the end...
Suppose that you make an investment that will cost $\$ 1,000$ and will pay you interest of $\$ 100$ per year for the next 20 years. Then at the end of the 20 years, the investment will pay $\$...
Explain the following on the basis of the behavior of atoms and/ or ions. a. Cooking with hot water is faster in a pressure cooker than in an open pan. b. Salt is used on icy roads. c. Melted sea ice...
5. Group the majors and construct a relative frequency distribution with a circle graph with this information. Program of Study bus AA Bus Eng AS Nur mech AA Nur AA AS Nur AS Nur AA DE AS AA AS AA AA...
1 2 Let f (x) = and g(x) = +4. x-3 a. Find and simplify (go f) (x). (gf) (x) = b. Find the restriction for the domain of (go f) (x) Domain restriction: x + each value using comma.) (If there's more...
The Casings Plant of Wyoming Machines makes plastics shells for the company's calculators. (Each calculator requires one shell.) For each of the next two years, Wyoming expects to sell 660,000...
(f) A windowless office is to be illuminated for 15 hours per day, for 6 days per week, for 50 weeks per year. The floor is 20 m long and 12 m wide. An overall illumination of 450 Lux is to be...
Give the series of basic transformation matrices that transform the wedge below so that it can sit "on top of" the following parallelepiped to form a simple "house" with the ridge line of the roof...
A consumer agency has retained an independent testing firm to examine a television manufacturers claim that its 50-inch console model consumes just 110 watts of electricity. Based on a preliminary...
Consider the discrete group G of order 8 that has the following Cayley diagram e If we have the sequence of operations: fcagec, which of the options represents the reduction of the sequence to a...
1. Determine the value of the right to use asset and lease liability at commencement of the lease.
Problem 22-1 The management of Sunland Instrument Company had concluded, with the concurrence of its independent auditors, that results of operations would be more fairly presented if Sunland changed...
Question 4. - Week 9. What are the major competitive issues General Electric faces when managing cooperative strategies? - (7 marks)

A biologist decided that she wanted to have $$ 54,267.89$ in her account in 10 years, and

Question:

Step by Step Answer:

To calculate the monthly payments required to accumulate 5426789 in 10 years with a 6 annual interes...View the full answer

Financial Decision Making For Engineers

Students also viewed these Engineering questions