Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 20, 2024

i c an't calculate this formula and im getting different answers each time?? Find the savings plan balance after 3 years with an APR of

i can't calculate this formula and im getting different answers each time??

image text in transcribed

Find the savings plan balance after 3 years with an APR of 2% and monthly payments of $200. The balance is $ 10398.87 (Do not round until the final answer. Then round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Challenging Global Finance

Authors: Elizabeth Friesen

2012th Edition

0230348793, 978-0230348790

More Books

Students also viewed these Finance questions

Question

★★★★★

What is the reasoning behind using the average annual return as a measure of expected return?

Answered: 1 week ago

Question

★★★★★

3. Have you ever felt good or been flattered by someone seeking to network with you? What did the person do to make you feel good about the interaction?

Answered: 1 week ago

Question

★★★★★

Find the net single premium for a life annuity of 5000 per year, with the first payment due in one year, sold to a 30-year-old in each of the following cases, (a) Px.96 for each x, and i = .09. (b)...

Answered: 1 week ago

Question

★★★★★

Santiago Company incurs annual fixed costs of $66,000. Variable costs for Santiago's product are $34 per unit, and the sales price is $50 per unit. Santiago desires to earn an annual profit of...

Answered: 1 week ago

Question

★★★★★

Use technology to compute the balance in each of the following accounts. a . An account with monthly compounding, an APR of 6 % , and an initial deposit of $ 1 0 0 0 , after 5 years b . An account...

Answered: 1 week ago

Question

★★★★★

Thank you for your help S2-2. (Learning Objective 1: Differentiate between different types of accounts) For each of the following accounts, identify whether that item is an asset, liability, or...

Answered: 1 week ago

Question

★★★★★

Thomas Co. sold $1,000 worth of merchandise on a bank credit card with a 3% fee. The entry to record the sales transaction would include a debit to Cash in the amount of $

Answered: 1 week ago

Question

★★★★★

Its a Electric Potential Lab, I put these in order step by step.Thank you Open the simulation [f>_in a separate tab. The screen should look like this: Charges and Fields \fQuestion 1 10 pts Now...

Answered: 1 week ago

Question

★★★★★

Question previously asked, please provide step by step work of how answers were worked Ratio and Formula Feb.3, 2017 Jan.29, 2016 % increase/(decrease) Liquidity: Current Ratio 1.00 1.01 -0.44%...

Answered: 1 week ago

Question

★★★★★

Shown in the figure below is the cycle undergone by a Heat Pump. Your heat pump runs using 22.20 moles of diatomic Oxygen gas. At point a in the figure, the temperature is T a = 420 Kelvin and the...

Answered: 1 week ago

Question

★★★★★

Gilberto Ray is a financial analyst for Flexy Wireless Communications, a telecommunications company in Sacramento, California. In addition to cell phones and wireless plans, Flexy sells electronic...

Answered: 1 week ago

Question

★★★★★

What are intangible assets? How are they influenced by human resource management practices?

Answered: 1 week ago

Question

★★★★★

Staffing, training, compensation, and performance management are important HRM functions. How can each of these functions help companies succeed in meeting the global challenge, the challenge of...

Answered: 1 week ago

Question

★★★★★

Many companies have dress codes that require men to wear suits and women to wear dresses. Is this discriminatory according to disparate treatment theory? Why?

Answered: 1 week ago

Previous Question Next Question