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

Question

1 Approved Answer

How long will it take to save $3643.00 by making deposits of $148.00 at the end of every six months into an account earning interest

image text in transcribed

How long will it take to save $3643.00 by making deposits of $148.00 at the end of every six months into an account earning interest at 9% compounded semi-annually? State your answer in years and months (from 0 to 11 months). It will take year(s) and month(s)

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

Focus On Personal Finance An Active Approach To Help You Develop Successful Financial Skills

Focus On Personal Finance An Active Approach To Help You Develop Successful Financial Skills

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

4th Edition

0078034787, 978-0078034787

More Books

Students also viewed these Finance questions

Question

★★★★★
In November, Curtis Company had the following cost flows: Required: 1. Prepare the journal entries to transfer costs from (a) Molding to Grinding, (b) Grinding to Finishing, (c) Finishing to Finished...

Answered: 1 week ago

Question

★★★★★
Safety lead time involves inflating lead times to ensure stock availability. a. True b. False

Answered: 1 week ago

Question

★★★★★
Describe how the Wechsler intelligence tests are used for intellectual assessment.

Answered: 1 week ago

Question

★★★★★
From an ethical perspective, if LJL had been allowed to invoke the right-to-cure provision, could it have undone its wrongdoing so that the franchise relationship could have continued? Why or why...

Answered: 1 week ago

Question

★★★★★
During 2017, James, a single, cash method taxpayer incurred the following expenditures (Click the icon to view the expenditures) (Click the icon to view the standard deduction schedule.) (Click the...

Answered: 1 week ago

Question

★★★★★
As discussed in the text, in the absence of market imperfections and tax effects, we would expect the share price to decline by the amount of the dividend payment when the stock goes ex dividend....

Answered: 1 week ago

Question

★★★★★
Q21 (EC). 16.10. A test for extrasensory perception (ESP) involves asking a person to tell which of 5 shapes-a circle, star, triangle, diamond, or heart-appears on a hidden com- puter screen. On each...

Answered: 1 week ago

Question

★★★★★
Comprehensive Problem Hersheys Big Bang ERP Halloween is the biggest candy season of them all, with $1.8 billion in sales. For Hersheys, Halloween 1999 was the scariest of all time. Hersheys had...

Answered: 1 week ago

Question

★★★★★
Costco is running a member-only sales program for Carnival cruise vacation. There are totally 600 cabins on the cruise ship. Fixed cost is $15,000 (includes fuel cost for roundtrip, salary for crews...

Answered: 1 week ago

Question

★★★★★
1. Using indicial notation, prove the following (where W is a second-order tensor field and a and b are vector fields). Explain your derivation in detail. ( b)W = (Wb)

Answered: 1 week ago

Question

★★★★★
The income statement reports earned income on _____, and the cashflow statement is based on ______. Question 4Answer a. An accrual-basis, accrual basis accounting b. A cash-basis, accrual-basis...

Answered: 1 week ago

Question

★★★★★
1. Raster images are resolution dependent you decide the resolution for new documents, measured on screen as PPI (pixels per inch).

Answered: 1 week ago

Question

★★★★★
create simple design pieces exhibiting visual, rhetorical, and technical focus.

Answered: 1 week ago

Question

★★★★★
analyze file formats and basic digital design rules.

Answered: 1 week ago

Previous Question Next Question