Joe Ngosa bought a retirement fund for $150 000. Beginning 25 years from the date of purchase,
Question:
(a) How many payments will Joe receive?
(b) What is the size of the last payment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
a PV n defer 150 00000 PMT 35 00000due i 3 d 50 1 4...View the full answer
Answered By
Anjali Arora
Having the experience of 16 years in providing the best solutions with a proven track record of technical contribution and appreciated for leadership in enhancing team productivity, deliverable quality, and customer satisfaction. Expertise in providing the solution in Computer Science, Management, Accounting, English, Statistics, and Maths.
Also, do website designing and Programming.
Having 7 yrs of Project Management experience.
100% satisfactory answers.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
Identify Appropriate Funds Bach of the following transactions relates to a city government: 1. A sinking fund is set up to accumulate and invest resources for the retirement of a general bond issue...
-
The City of Sweetwater maintains an Employees Retirement Fund, a singleemployer, defined benefit plan that provides annuity and disability benefits. The fund is financed by actuarially determined...
-
Leisure City maintains a Pension Trust Fund for its employees. Following is a trial balance for the fund at December 31, 2011: The following transactions took place during 2012: 1. Both Leisure City...
-
In December 2014, Shire Computer's management establishes the 2015 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the...
-
The following sample data reflect shipments received by a large firm from three different vendors. a. Specify the competing hypotheses to determine whether quality is associated with the source of...
-
A cylinder provided with a movable piston contains an ideal gsa at a pressure P 1 , specific volume v 1 and temperature T 1 . The pressure and volume are simultaneously increased so that at every...
-
A snowplow mounted on a truck clears a path \(12 \mathrm{ft}\) through heavy wet snow, as shown in Figure P5.80. The snow is 8 in. deep and its density is \(10 \mathrm{lbm} / \mathrm{ft}^{3}\). The...
-
A stream of hot dry nitrogen flows through a process Unit that contains liquid acetone. A substantial portion of the acetone vaporizes and is carried off by the nitrogen. The combined gases leave the...
-
Your boss (for 1 of the six organizations you have to choose from-Google, Walt Disney Company, Amazon, P&G, 3M, or Ford Motor Company) has asked you to represent the organization in an industry panel...
-
A store maintains data on customers, products and purchase records in three tables: CUSTOMER, PRODUCT, PURCHASE. The store manager wants to know which product is on its maximum discount for each...
-
A sinking fund of $10 000 is to be created by equal annual payments at the beginning of each year for seven years. Interest earned by the fund is 7.5% compounded annually. (a) Compute the annual...
-
The town of Kildare bought firefighting equipment for $96 000. The financing agreement provides for annual interest payments and equal payments into a sinking fund for 10 years. After 10 years the...
-
You are using a screening test in your clinic to detect abnormal cervical cells related to the presence of human papilloma virus (HPV). Your results are shown in Table 4-3. What is the positive...
-
Fort Gaines guards the western entrance to Mobile Bay. In order to prevent enemy ships from passing, it needs to be able to cover about 1 km of the bay with cannon fire. The cannons fire projectiles...
-
Prepare one "poor example" and one "good example" of a citation for an online source (e.g. website or blog for a bibliography) and an example of an in paragraph citation in APA (i.e. paraphrase with...
-
Estimate the inventory turnover for 2019. Balance Sheet 2019 Cash $8,000 2018 $4,000 AR Inventory Fixed Assets 3,000 5,000 14,000 12,000 17,500 14,000 Total Assets $42,500 $35,000 AP $14,000 $8,000...
-
1C.1 What's the largest gravitational force you can produce between the two masses? (Note: it's convenient to express the forces in this sim in terms of piconewtons-pN. One piconewton is 0.000000 000...
-
The specific heat of a certain type of cooking oil is 1.75 J/(g.C). How much heat energy is needed to raise the temperature of 2.92 kg of this oil from 23 C to 191 C? 9 = J
-
A total of 322 bolts are in two containers. The ratio of the number of bolts in the first container to the number in the second container is 5/9. How many are in each container?
-
Choose two matrices A and B with dimension 2 x 2. Calculate det A, det B, and det (AB). Repeat this process until you are able to discover how these three determinants are related. Summarize your...
-
In Problems 19-26, find the general or particular solution, as indicated, for each differential equation. a. b. c.
-
Problems 27-34 refer to the following slope fields: a. Which slope field is associated with the differential equation dy/dx=y+1? Briefly justify your answer.
-
Show that y = x2 + C is a solution of the differential equation dy/dx = x/y for any real number C. Find the particular solution that passes through (-6,7).
-
Reyes Manufacturing Company uses a job order cost system. At the beginning of January, the company had one job in process (Job 201) and one job completed but not yet sold (Job 200). Job 202 was...
-
n-1 3.) Given the discrete sequence x(n) = (3) u(n - 1) where u is the unit step sequence, do the following: (SHOW ALL WORK) a.) Compute the discrete time Fourier Transform (DTFT) X(w) of x(n). b.)...
-
The Cubby Bear started the month with a food inventory of $6,000 in the storeroom. During the month, food purchases totaling $8,000 were delivered to the storeroom and food totaling $8,000 was issued...
Study smarter with the SolutionInn App