FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(2 points) if you make quarterly payments of $386.00 into an ordinary annuity earning an annual interest rate of 3.81% compounded quarterly, how much will

image text in transcribed
(2 points) if you make quarterly payments of $386.00 into an ordinary annuity earning an annual interest rate of 3.81% compounded quarterly, how much will you have in the account after 3 years? $4883.25 (Note: Your answers are dollar amounts and should include a dollar sign)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Illusion Of Control Why Financial Crises Happen And What We Can And Cannot Do About It

The Illusion Of Control Why Financial Crises Happen And What We Can And Cannot Do About It

Authors: Jon Danielsson

1st Edition

0300234813, 0300265093, 9780300234817, 9780300265095

More Books

Students also viewed these Finance questions

Question

★★★★★
Scholars have made strong arguments for required representation on boards by stakeholders beyond stockholders such as employees, community members, and others, depending on the industry. What might...

Answered: 1 week ago

Question

★★★★★
There is a file called mat1.txt in our CatCourses files area under the Assignments folder. Download it and save it in the same folder where this Fortran file (HW04_01.f95) is saved. It may be worth...

Answered: 1 week ago

Question

★★★★★
3. The country of Boldovia has no unemployment insurance benefits and a tax system using only lump-sum taxes. The neighboring country of Moldovia has generous unemployment benefits and a tax system...

Answered: 1 week ago

Question

★★★★★
ETHICS: Koby, age 16, works after school at Fast- Food from 4 p.m. until 11 p.m. On Friday night, the restaurant manager sees that Koby is exhausted, but insists that he remain until 4:30 a.m.,...

Answered: 1 week ago

Question

★★★★★
(2 points) if you make quarterly payments of $386.00 into an ordinary annuity earning an annual interest rate of 3.81% compounded quarterly, how much will you have in the account after 3 years?...

Answered: 1 week ago

Question

★★★★★
P14-32 On January 1, 2014 Mechanics Credit Union (MCU) issued 5%, 20-year bonds payable with face value of OR 300,000. The bonds pay interest on June 30 and December 31. Requirements: 1. If the...

Answered: 1 week ago

Question

★★★★★
Stien Inc. manufactures recycling boxes. The company has the following information available for the past year: Total sales Total operating income Degree of operating leverage $455,000 $42,000 5.50...

Answered: 1 week ago

Question

★★★★★
The interest charged on a $100,000 note payable, at the rate of 9%, for a year would be Select one: Oa. $9,000. O b. $5,000. c. $2,250. Od. $750.

Answered: 1 week ago

Question

★★★★★
2. The following purchases were made by a business house having three Departments: Department A 1,000 units Department B 2,000 units at a total cost of Rs. 1,00,000 Department C 2,400 units Stock on...

Answered: 1 week ago

Question

★★★★★
The Lentiviral vector is derived from the HIV virus but is modified to be safe for gene therapy in humans. Which of the following statements best describes the modifications to the viral genome of...

Answered: 1 week ago

Question

★★★★★
The airline industry is frequently used as an example of an oligopoly industry.Consider the following analytic problems: Consider AirTrain and BigJet, two airlines that currently fly non-stop flights...

Answered: 1 week ago

Previous Question Next Question