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

Question

1 Approved Answer

How much interest do you earn total if you make 2 5 yearly payments of $ 2 0 0 0 into an annuity with an

How much interest do you earn total if you make 25 yearly payments of $2000 into an annuity
with an APR of 9.5%, which then pays back out at the same rate over 25 annual payments?
the answer should be $433,418.19
show working

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

What external events and internal factors might be responsible for Douglas and Stacy's sexual problems?

Answered: 1 week ago

Question

★★★★★
Killys Baskets has the following current year costs: Variable costs ......... $6 per unit Fixed costs ........... $7,000 Killy and a key supplier have entered into an arrangement that will result in...

Answered: 1 week ago

Question

★★★★★
Adopting a personal code of conduct can guide leaders and managers to make and prioritize decisions. You have been selected to serve in a critical leadership position in your organization. In 3 5...

Answered: 1 week ago

Question

★★★★★
Question 3 a. Calculate the cross-price elasticity of demand for porridge oats and milk sold in a supermarket if at the end of last period, the price of the porridge oats rose from $150 to S210 and...

Answered: 1 week ago

Question

★★★★★
Knowing that there are many disasters that exceed local resources, but don't rise to the level of federalsupport, how can an emergency manager at a local or state level manage expectations for these...

Answered: 1 week ago

Question

★★★★★
A local University conducted a survey of over 2,000 MBA alumni to explore the issue of work-life balance. Each participant received a score ranging from 0 to 100, with lower scores indicating a...

Answered: 1 week ago

Question

★★★★★
A worker stands at the end of a production line for mint chocolate chip ice cream and uses warm water to melt the ice cream away from the chocolate. The amount of chocolate is then weighed. Each...

Answered: 1 week ago

Question

★★★★★
A sporting goods store decides to lower prices on high-end sports equipment. How could this change affect market equilibrium? (1 point) O The sporting goods market could experience a surplus. The...

Answered: 1 week ago

Question

★★★★★
This amount of carbonic acid is released by the lungs as carbon dioxide daily: (a) Five liters (about 1 gallon). (b) Ten liters (about 2.5 gallons). (c) Twenty liters (about 5 gallons). (d) Thirty...

Answered: 1 week ago

Previous Question Next Question