In 4 years, Jaxson must pay a pledge of $5000 to his schools building fund. He wants

Question:

In 4 years, Jaxson must pay a pledge of $5000 to his school’s building fund. He wants to set up a sinking fund to accumulate that amount. What should each semiannual payment into the fund be at 8% compounded semiannually?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Calculus With Applications

ISBN: 9780135871348

12th Edition

Authors: Margaret L. Lial

See More Books

Question Posted: Jan 24, 2023 09:31 PM

See More Questions

A sinking fund is to be set up to provide for the repayment of 80% of the principal amount of a $1 million debt in 10 years. Equal payments are to be made at the beginning of each quarter. The...
What semiannual sinking fund payment would be required to yield $48,000 nine years from now? The annual interest rate is 6% compounded semiannually?
A sinking fund is an increasing annuity set up by a corporation or government to repay a large debt at some future date. Exercises concern such annuities. 1. A city has a debt of $1,000,000 due in 15...
You are in the market for a new car and have narrowed your search down to two types: Car X costs $36,300, will last for four years, and will be worth $3,630 at the end of its useful life. It will...
Twenty-five samples of loan applications at a bank, each of size 150, resulted in a total of 22 errors. Compute the control limits for a p-chart.
When was the last time you changed a specific behavior (e.g., began to exercise, went on a diet, studied a new subject)? How successful were you in achieving and sustaining the change? Why?
Dafna Brauning owns a small chain of fast-casual restaurants in Denver that sells sandwiches, soups, wraps, and desserts. In general, these restaurants are successful, but Dafna feels that they are...
Troy Batkin, the chief executive officer of Batkin Corporation, has assembled his top advisers to evaluate an investment opportunity. The advisers expect the company to pay $400,000 cash at the...
Who were some of the principal Portuguese explorers? What did they achieve and what were the ramifications of these voyages for Portugal, and the world?
A rotary worktable is driven by a Geneva mechanism with five slots. The driver rotates at 48 rev/min. Determine (a) The cycle time, (b) Available process time, and (c) Indexing time each cycle.
Kamila deposits $491 at the end of each quarter for 9 years. If the account pays 9.4% compounded quarterly, find the final amount in the account.
A mine produced $750,000 of income during its first year. Each year thereafter, income increased by 18%. Find the total income produced in the first 8 years of the mines life.
The Good Beer Brewing Company currently purchases health insurance for its 10,000 employees. The company is considering a flexible plan where employees can have either $2,000 in cash or insurance...
Zakat is payable only on growing capital. Growing capital is a. a fixed asset that can be expanded. b. the realised gains on fixed assets. c. the realised and unrealised gains on fixed assets. d. the...
Orange Furniture Inc. (Orange) imports pine furniture from factories around the world for sale to retailers in Canada. On October 31, 2004, Orange bought a bedroom furniture set from a supplier in...
What proportion of Canadian employment is in non-profit organizations?
Christopher Sanchez is Regional Manager at Digital Depot in New Orleans, Louisiana. He received an e-mail from Thomas Heffernan, a frustrated customer who is demanding a steep price match for all his...
Explain the distinction between the restricted fund method and the deferral method.
Find the variance of the given random variable. Let X have density fx(x) = 2/25x, for 0 x 5, and fx(x) = 0 otherwise.
Consider the reaction of acetic acid in water CH 3 CO 2 H(aq) + H 2 O(l) CH3CO 22 (aq) + H 3 O + (aq) where Ka 5 1.8 3 1025. a. Which two bases are competing for the proton? b. Which is the stronger...
Use nonparametric methods to answer Problem 8.70 (p. 326)? Renal Disease Refer to the urinary-protein data in Table 8.16 (p. 324). Table 9.16: Relationship of serum estradiol, BMI, and ethnicity in...
Use nonparametric methods to answer Problem 8.72 (p. 326)? Renal Disease Refer to the urinary-protein data in Table 8.16 (p. 324). Table 9.16: Relationship of serum estradiol, BMI, and ethnicity in...
Compare your results in Problems 9.329.34 with the corresponding results using parametric methods in Problems 8.708.72 (p. 326)? Renal Disease Refer to the urinary-protein data in Table 8.16 (p....
#2 Separate streams of steam and air flow through the turbine and heat exchanger arrangement shown in the figure below, where the air stream mass rate m'5 ranges from 1500 kg/min to 3500 kg/min in...
The beam is subjected to the load shown. 1. Derive the bending moment equation for the beam using Macaulay's notation. 2. Determine the displacement at point C 3. Compute the slope at point A. Use...
2. 3. For a system with governing equation of + 0.5y = f (t), find and sketch response to a) a unit step f(t)=U(t); b) f(t) = 2 for t>0 and with f(0) = -1 ;(c) f(t)=U(t)-U(t-2) with f(0) = 0; c) unit...

In 4 years, Jaxson must pay a pledge of $5000 to his schools building fund. He wants

Question:

Step by Step Answer:

This ordinary annuity will amount to ...View the full answer

Calculus With Applications

Students also viewed these Mathematics questions