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

Question

1 Approved Answer

find the amount in the account and round to the nearest dollar please Recently, More Money 4U offered an annuity that pays 6.3% compounded monthly.

find the amount in the account and round to the nearest dollar please

image text in transcribed
Recently, More Money 4U offered an annuity that pays 6.3% compounded monthly. If $1,684 is deposited into this annuity every month, how much is in the account after 8 years? How much of this is interest? Type the amount in the account: $ (Round to the nearest dollar.)

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_2

Step: 3

blur-text-image_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

Business Mathematics

Business Mathematics

Authors: Gary Clendenen, Stanley A Salzman, Charles D Miller

12th Edition

0135109787, 9780135109786

More Books

Students also viewed these Finance questions

Question

★★★★★
Chip, Dot, and Mike participated in several brainstorming sessions resulting in the outlining of several reports. Design (or modify using Access) the HARDWARE MASTER REPORT. This report is large, and...

Answered: 1 week ago

Question

★★★★★
88.20

Answered: 1 week ago

Question

★★★★★
6.93 Faculty Salaries Several years ago, OCUFA President Michael Piva wrote a very helpful explana- tion of university salary structures, the nature of career development increments, and the problems...

Answered: 1 week ago

Question

★★★★★
Three loads are applied as shown to a light beam supported by cables attached at B and D. Neglecting the weight of the beam, determine the range of values of Q for which neither cable becomes slack...

Answered: 1 week ago

Question

★★★★★
Brooks/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $50. Brooks/Neff collects cash at the time of sale from 30% of customers. Of the...

Answered: 1 week ago

Question

★★★★★
You work as a senior analyst for the HR department of Dajani Agriculture Inc. The company offers its employees entitlement to vacation days above the legal requirement. These vacation days, if...

Answered: 1 week ago

Question

★★★★★
PS30 #3 Caspian Sea Drinks is considering buying the J-Mix 2000. It will allow them to make and sell more product. The machine cost $1.54 million and create incremental cash flows of $605,996.00 each...

Answered: 1 week ago

Question

★★★★★
Q1. In the design of a shower head, a "flow reducer" is installed to conserve water and energy as shown in Figure 1. After installation, the flow rate, Q, is reduced by a factor of 2. Assume the...

Answered: 1 week ago

Question

★★★★★
Histogram of Wave Heights for Sheet Harbour, Halifax County 20 15- Percent 10 5 0. 0.4 0.8 1.6 2.0 2.4 Wave Height (metres) Location N Mean StDev Minimum Q1 Median Q3 Maximum Lobster Bay 319 0.4966...

Answered: 1 week ago

Question

★★★★★
2.1.35 A 1m x 1m square board is sup- ported by two strings AE and BF. The ten- sion in the string BF is 20 N. Express this tension as a vector. y E 2 m 2.5 m F 1 1 m A B plate 1 m 2 m D C x...

Answered: 1 week ago

Question

★★★★★
On January 15, 2014, Mary Barra became the chief executive officer (CEO) of General Motors, the first female CEO of a major global automaker. She is also a member of the GM board of directors....

Answered: 1 week ago

Question

★★★★★
Emily needs your help with building a display for cakes. She wants to include a small roof over the display to provide some shade and protection from the elements. She is trying out different...

Answered: 1 week ago

Question

★★★★★
Jammer Corporation holds cash of $8,000 and owes $28,000 on accounts payable. Jammer has accounts receivable of $41,000, inventory of $24,000, and land that cost $60,000. How much are Jammer's total...

Answered: 1 week ago

Question

★★★★★
5. Give an example of how the consensus principle can be used to influence others.

Answered: 1 week ago

Question

★★★★★
9. Give an example of how the word because can trigger a cognitive reflex in another party.

Answered: 1 week ago

Question

★★★★★
7. Give an example of how the authority principle can be used to influence others.

Answered: 1 week ago

Previous Question Next Question