Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem #8: An initial deposit of $10500 is made into an account now, and a second deposit of $19000 is made into the same account

image text in transcribed

Problem #8: An initial deposit of $10500 is made into an account now, and a second deposit of $19000 is made into the same account after 15 years. During the first 10 years, the account earns interest quoted at a nominal quarterly discount rate of d%. After 10 years have passed, any money in the account earns a nominal semi-annual interest rate of 7.9%. At the end of 30 years, the total value of the account will be $208535. What is the value of d (to the nearest 0.1%)? Problem #8: 0.2 d as a percentage, correct to 1 decimal Just Save Submit Problem #8 for Grading Attempt #4 Attempt #5 Problem #8 Your Answer: Your Mark: Attempt #1 11.1 Attempt #2 20.8 0/2x Attempt #3 0.2 0/2x 0/2X

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

Your Financial Future How To Take Control Of Your Financial Future

Authors: Deloris Lutke

1st Edition

979-8388730831

Students also viewed these Finance questions

Question

What criteria will be used for the evaluation?

Answered: 1 week ago

Question

Describe the factors influencing of performance appraisal.

Answered: 1 week ago

Question

What is quality of work life ?

Answered: 1 week ago

Question

Have to Do: Stay the course while planning ahead.

Answered: 1 week ago

Question

Have to Do: Recognize improvement.

Answered: 1 week ago