Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 04, 2024

please help!!! Viewing Saved Work Revert to Last Response 17. DETAILS MY NOTES Your math professor has decided to retire and return to his jetsetting

please help!!!

Viewing Saved Work Revert to Last Response 17. DETAILS MY NOTES Your math professor has decided to retire and return to his jetsetting life style. He wishes to establish a fund from which he can withdraw $7,000 per month for the next 20 year If the fund earns 9% per year compounded continuously, how much money does he need now to establish the fund? O 84,000 ( 1.8 + 1) 0.09 12.20 O 0.09 (1 - e-1.8) 12.20 O 0.09 -(e1.8 - 1) 84,000 0.09 (1 - e-1.8) 84,000 0.09 (e1.8 - 1)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Labor and Employment Law Text and Cases

Authors: David Twomey

15th edition

1133188281, 978-1133711841, 1133711847, 978-1285247632, 978-1133188285

Students also viewed these Mathematics questions

Question

★★★★★

The balance in the unearned fees account, before adjustment at the end of the year, is $49,500. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is...

Answered: 1 week ago

Question

★★★★★

Describe three major themes in cognitive psychology.

Answered: 1 week ago

Question

★★★★★

Miller Co., which produces and sells skiing equipment, is financed as follows: Bonds payable, 10% (issued at face amount) $10,000,000 Preferred $1 stock, $10 par 10,000,000 Common stock, $25 par...

Answered: 1 week ago

Question

★★★★★

Required information [The following information applies to the questions displayed below.] Financial information for Forever 18 includes the following selected data: Required: 1-a. Calculate earnings...

Answered: 1 week ago

Question

★★★★★

Which one of the following methods is a direct estimate of the impact a proposed project will have on the value of a firm? Group of answer choices internal rate of return discounted payback payback...

Answered: 1 week ago

Question

★★★★★

Jonathan Lark's lifelong dream is to own a restaurant. He owns a premium site for a restaurant across the street from the local university. Now he needs to decide what kind of restaurant to open....

Answered: 1 week ago

Question

★★★★★

What is the shift capacity of a machine with the following characteristics? ---Part processing time = 70 seconds ---cutting tool has to be replace every 35 pieces and it takes 30 seconds to replace...

Answered: 1 week ago

Question

★★★★★

_____________ phase includes consideration of the full scope of operational support, such as maintenance, supply, transportation, sustaining engineering, spectrum supportability, etc. A. Technology...

Answered: 1 week ago

Question

★★★★★

M1D5( Guest Reservations) 1-Discuss what the case Freeman v. Kiamesha Concord, Inc., teaches us with respect to contractual agreements between a hotel and a guest. 2-Discuss the damages a guest may...

Answered: 1 week ago

Question

★★★★★

Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has always produced all of the parts for its engines, Including the carburetors. An outside supplier...

Answered: 1 week ago

Previous Question Next Question