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

Question

1 Approved Answer

can you pls help me 3. Mr. Fredncksen would like to have $2,000,DO0 at the end of 30 years. The retirement fund that he has

can you pls help me

image text in transcribed
3. Mr. Fredncksen would like to have $2,000,DO0 at the end of 30 years. The retirement fund that he has chosen earns interest at 8.596 per year, compounded quarterly. He makes regular deposits into the fund every 3 months. What must Mr. Fredricksen's deposits be in order to achieve his savings goal? [4]

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

An Introduction to Analysis

An Introduction to Analysis

Authors: William R. Wade

4th edition

132296381, 978-0132296380

More Books

Students also viewed these Mathematics questions

Question

★★★★★
1. What is bootstrapping? Be sure to include a discussion of the general bootstrap algorithm. 2. If we wish to obtain a 95% confidence interval of a parameter using the bootstrap percentile method,...

Answered: 1 week ago

Question

★★★★★
Which of the following is a feature of the Java programming language? a ) Manual memory management b ) Platform independence c ) Lack of garbage collection d ) Pointer arithmetic

Answered: 1 week ago

Question

★★★★★
=+a. (*) What is the economic order quantity?

Answered: 1 week ago

Question

★★★★★
Use the following information to prepare an income statement for Fairchild Corporation for the year ended December 31, 2012. You should show separate classifications for revenues, cost of goods sold,...

Answered: 1 week ago

Question

★★★★★
can you pls help me 3. Mr. Fredncksen would like to have $2,000,DO0 at the end of 30 years. The retirement fund that he has chosen earns interest at 8.596 per year, compounded quarterly. He makes...

Answered: 1 week ago

Question

★★★★★
Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows:...

Answered: 1 week ago

Question

★★★★★
Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $350,000 per quarter. For financial reporting...

Answered: 1 week ago

Question

★★★★★
Imagine this! You are participating in an Incident Response (IR) team meeting. During the meeting, one of your team members asks you, "In the context of the Incident Response (IR) cycle, define the...

Answered: 1 week ago

Question

★★★★★
V Part A Here's an interesting challenge you can give to a friend. Hold a $1 (or larger!) bill by an upper corner. Have a friend prepare to pinch a lower corner, putting her fingers near but not...

Answered: 1 week ago

Question

★★★★★
Sandhill Company, a manufacturer of driver golf clubs, started production in November 2022. For the preceding ve years, Sandhill had been a retailer of sports equipment. After a thorough survey of...

Answered: 1 week ago

Question

★★★★★
NU Inc. is not paying any dividends now. However, NU Inc. is planning to start paying annual dividends 3 years from now. The first dividend will be $2.5. The growth rate will be 1.5%. What is the...

Answered: 1 week ago

Previous Question Next Question