Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 28, 2022

A person has begun to deposit$500every 3 months in an account that pays6%annual interest, compounded quarterly. Find the number of deposits needed for the total

A person has begun to deposit$500every 3 months in an account that pays6%annual interest, compounded quarterly. Find the number of deposits needed for the total amount to reach$20000.

Step by Step Solution

★★★★★

3.42 Rating (146 Votes )

There are 3 Steps involved in it

Step: 1

The number of deposits needed for the total amount to reach 20000 is 40 Explanation To f... 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

Step: 3

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

Algebra and Trigonometry

Authors: Ron Larson

10th edition

9781337514255, 1337271179, 133751425X, 978-1337271172

More Books

Students also viewed these Accounting questions

Question

★★★★★

An investor deposits $10,000 in an account that earns 3.5% interest compounded quarterly. The balance in the account after n quarters is given by An = 10,000(1 + 0.035/4)n, n = 1, 2, 3, . . . (a)...

Answered: 1 week ago

Question

★★★★★

An investor deposits $10,000 in an account that earns 2.25% interest compounded monthly. The balance in the account after n months is given by An = 10,000 (1 + 0.0225/12)n n = 1, 2, 3, . . . . (a)...

Answered: 1 week ago

Question

★★★★★

A woman invests $5,000 in an account that earns 8.8% compounded continuously and $7,000 in an account that earns 9.6% compounded annually. Use graphical approximation methods to determine how long it...

Answered: 1 week ago

Question

★★★★★

The following information has been extracted from the trial balance of M/s Randhir Transport Corporation. Adjustments 1. Closing stock for the year was Rs. 35,500. 2. Depreciation charged on plant...

Answered: 1 week ago

Question

★★★★★

The highway department wants to estimate the proportion of vehicles on Interstate 25 between the hours of midnight and 5:00 A.M. that are 18-wheel tractor trailers. The estimate will be used to...

Answered: 1 week ago

Question

★★★★★

Given in the following table are the tasks necessary for final assembly of a hospital bed, the length of time needed to perform each task, and the operations that must be completed prior to...

Answered: 1 week ago

Question

★★★★★

How much influence do others expressed perceptions of an event have on an individuals perception of the same event?

Answered: 1 week ago

Question

★★★★★

Presented below are selected transactions of Pale Force Company. Pale Force sells in large quantities to other companies and also sells its product in a small retail outlet. March 1 Sold merchandise...

Answered: 1 week ago

Question

★★★★★

Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. a. b. C....

Answered: 1 week ago

Question

★★★★★

Greenstone Coffee is experiencing financial pressures due to increased competition for its numerous urban coffee shops. Total sales revenue has dropped by 15% and the company wishes to establish a...

Answered: 1 week ago

Question

★★★★★

Required information [The following information applies to the questions displayed below.] The following data pertain to British Isles Aggregates Company, a producer of sand, gravel, and cement, for...

Answered: 1 week ago

Question

★★★★★

Compose a thoughtful response to the original post with a reference source and link, This week I'd like to dive into the company Amazon, and how they implement information systems for strategic...

Answered: 1 week ago

Question

★★★★★

Brief the following case by using FILAR for structure and discuss the legal rules that applied to each issue and the reasons for the decision. Wright v. McArthur, 2005 BCSC 1797 case in a document...

Answered: 1 week ago

Question

★★★★★

9. A dual cycle operates with an air intake of 1 bar and 50C. The compression ratio is 15:1 and the maximum pressures and temperatures reached in the cycle are 75 bar and 2200C. (a) Sketch a p-V and...

Answered: 1 week ago

Question

★★★★★

From 1634 to 1637 CE, tulips in the Dutch Republic sold for extraordinarily high prices, sometimes as much as 10 times the annual wage of a skilled worker, in a phenomenon known as tulip mania. Some...

Answered: 1 week ago

Question

★★★★★

Required: Compute the following: ( 1 ) current ratio, ( 2 ) acid - test ratio, ( 3 ) days' sales uncollected, ( 4 ) inventory turnover, ( 5 ) days' sales in inventory, ( 6 ) debt - to - equity ratio,...

Answered: 1 week ago

Question

★★★★★

* Ch 15 HW x H x newconnect. meducation.com Tow.connect New Arrival in Apple Google rich * returnUrl . F Q x plate Every wet A connecteducation.com. samweb.index ported from M e Maps s al...

Answered: 1 week ago

Question

★★★★★

Suppose that a company has 10.000 outstanding shares in the beginning of the year. On April 1st, the company increases its shares by 6.000. On July 1st, the company increases its shares again, but...

Answered: 1 week ago

Question

★★★★★

In Exercises 1 and 2, perform the multiplication and use the fundamental identities to simplify. (There is more than one correct form of each answer.) 1. (sin x + cos x)2 2. (2 csc x + 2)(2 csc x 2)

Answered: 1 week ago

Question

★★★★★

Write the first five terms of the arithmetic sequence defined recursively. 1. a1 = 15, an+1 = an + 4 2. a1 = 200, an+1 = an 10 3. a5 = 7, an+1 = an 2

Answered: 1 week ago

Question

★★★★★

For each function, sketch the graphs of the function when c = 3, 2, 1, and 2 on the same set of coordinate axes. x2 + c, x 0 (a) f(x) = ( + )?, Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★

A researcher finds that as her subjects increased the number of hours they spent exercising, the overall weight of her subjects decreased. This would be an example of a ________ correlation. a....

Answered: 1 week ago

Question

★★★★★

A researcher wants to study the effects of texting on driving. Students in Group A drive a car in a computer game and see how many virtual accidents they have. Students in Group B are asked to drive...

Answered: 1 week ago

Question

★★★★★

Dr. Colton identifies himself with the largest subfield of psychology. What kind of psychologist is he? a. clinical b. counseling c. school d. experimental

Answered: 1 week ago

Previous Question Next Question