What is the present worth of a series of equal quarterly payments of $3000 that extends over
Question:
What is the present worth of a series of equal quarterly payments of $3000 that extends over a period of 8 years if the interest rate is 10% compounded monthly?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 59% (27 reviews)
Compute the effective interest rate per quart...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
What is the present worth of a $50,000 debenture bond that has a bond coupon rate of 8% per year, payable quarterly? The bond matures in 15 years. The interest rate in the marketplace is 6% per year,...
-
What is the present worth of these future payments? (a) $15,500 eight years from now at 14% compounded annually (b) $18,000 twelve years from now at 4% compounded annually (c) $20,000 nine years from...
-
A series of equal quarterly payments of $8,000 for 15 years is equivalent to what present amount at an interest rate of 9% compounded at the given intervals? (a) Quarterly (b) Monthly (c) Continuously
-
Five Smithtown High School students are saving up to buy their first cars. They all have after-school jobs, and their weekly salaries are listed in the table. Emily ..........................$110 Sam...
-
What lessons does Cuba have for training health professionals? Is training for context one way to address the migration problem?
-
The mast of a sailboat has a cross-sectional area of 10.65 cm2 and is constructed of an experimental aluminum alloy. Tests were performed to define the relationship between stress and strain. The...
-
The XYZ company sells approximately 900,000 gizmos annually. Each gizmo consists of 15 components. Management is currently evaluating which vendor to choose as the primary supplier of one of the...
-
POD Incasements manufactures protective cases for MP3 players. During November, the company's workers clocked 800 more direct labor hours than the flexible budget amount of 25,000 hours to complete...
-
How does focussing on the needs of the child help reduce the risk of harm to children or young people? Consider their personal, developmental, physical, relationship and educational needs. What are...
-
Obtain the equivalent capacitance of the circuit in Fig. 6.56. 40 uF 10 F 10 uF 35 F 20 F
-
Ann deposits $100 at the end of each month into her bank savings account. The bank paid 6% nominal interest, compounded and paid quarterly. No interest was paid on money not in the account for the...
-
The first of a series of equal semiannual cash flows occurs on July 1, 1997, and the last occurs on January 1, 2010. Each cash flow is equal to $128,000. The nominal interest rate is 12% compounded...
-
The following transactions take place: 1. A cement mixer was purchased with resources of the general fund. 2. A contract was signed for the construction of a new civic center. 3. Bonds were issued to...
-
A river narrows at a rapids from a width of 12 m to a width of only 5.6 m. The depth of the river before the rapids is 3.0 m; the depth in the rapids is 0.75 m. Part A Find the speed of water flowing...
-
What will be the correct balance of cash at May 31, 2025? In preparing its May 31, 2025 bank reconciliation, Metlock Co. has the following information available: Balance per bank statement, 5/31/25...
-
As you can retire early, you have decided to start saving $500 a month starting one month from now. You plan to retire as soon as you can accumulate $1 million. If you can earn 5 percent APR with...
-
Billy Goat purchased a convertible bond for $1060 with a par value of $1000. The bond's conversion price is $25 a share and shares of common stock are currently selling for $23 a share. What is the...
-
Your brother-in-law borrowed $2,000 from you 4 years ago and then disappeared. Yesterday he returned and expressed a desire to pay back the loan, including the interest accrued. Assuming that you had...
-
Stare decisis (let the decision stand) is a common law principle that provides that when a decision is rendered in a lawsuit involving a particular set of facts, another lawsuit involving an...
-
Juanita owns a home in Richardson, TX. She purchases a Homeowners Policy (HO-3) from Farm State Ins. Co. The policy provides $100,000 in liability coverage (coverage E) and $5,000 in Med Pay coverage...
-
How do investment bankers, securities brokers, and security dealers differ in their roles?
-
The initial cost of a bridge that is expected to be in place forever is $70 million. Maintenance can be done at 1-, 2-, 3-, or 4-year intervals, but the longer the interval between servicing, the...
-
A construction company bought a 180,000 metric ton earth sifter at a cost of $65,000. The company expects to keep the equipment a maximum of 7 years. The operating cost is expected to follow the...
-
An engineer determined the ESL of a new $80,000 piece of equipment and recorded the calculations shown below. [Note that the numbers are annual worth values associated with various years of...
-
QUESTION 3 A. Sims Industries, Inc. is considering two machines to replace an old machine. Machine A has a life of 10 years, will cost $24,500, and will produce net cash savings of $4,800 per year....
-
2. The following table shows a sample of the expense ratios for different types of stock funds. Use a 95% ANOVA test using Excel to see if the mean expense ratios for all types of stock funds are the...
-
The following information pertains to Raubolt Corporation's operations for the current year: Worldwide taxable income $300,000 U.S. source taxable income 180,000 U.S. income tax before foreign tax...
Study smarter with the SolutionInn App