An annuity consists of 42 payments made at the end of successive calendar quarters. How long is
Question:
An annuity consists of 42 payments made at the end of successive calendar quarters. How long is the term of the annuity?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Since the payments are made every quarter the ...View the full answer
Answered By
GERALD KAMAU
non-plagiarism work, timely work and A++ work
4.40+
6+ Reviews
11+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Payments of $51.00 are made at the end of each month for six years at 8% compounded annually. Classify the annuity by (a) term; (b) date of payment; and (c) conversion period.
-
An annuity consists of payments of $1000 made at the end of every year for 27 years. If the annuity earns 8% compounded semiannually, calculate the annuity's a. Future value b. Present value
-
The company's managers budget cash flows on a Quantity basis so that they can plan short term Investments and borrowings Celular phone sales are highest during the spring and summer. Sales are baiety...
-
The Rosa model of Mohave Corp. is currently manufactured as a very plain umbrella with no decoration. The company is considering changing this product to a much more decorative model by adding a...
-
For each process in problem 7-3-15 [OLK] , (a) Develop an energy inventory on a rate basis (in kW) and draw an energy flow diagram for the cycle, and (b) Determine the energetic efficiency of the...
-
Barbour Corporation, located in Buffalo, New York, is a retailer of high-tech products and is known for its excellent quality and innovation. Recently, the firm conducted a relevant cost analysis of...
-
What is the probability that the next household asked does not have a car? A polling organization is asking a sample of U.K. households how many cars they have. The frequency distribution at the left...
-
A satisfied customer is the most important goal of this company! was the opening remark of the corporate president, Alice Nunes, at the monthly executive committee meeting of Santiago Company. The...
-
Consider the following Java code: interface I { long f1(); long f2(); } abstract class C implements I { public long f1() { return 5; } } class C2 extends C { public long f1() { return 99; } public...
-
Sam and Susan Scully have come to financial planner Lissa Cardenas to ask about the adequacy of their life insurance coverage. They have two children ages 4 and 2. They are each 35 years old. Sam...
-
Sabina plans to invest $175 at the end of every month for the next 81 years. What will her investment be worth at the end of the 81-year period if she earns 4.2% compounded monthly?
-
An annuity consists of payments of $400 at the end of every calendar quarter for 11 years. If the annuity earns 3.5% compounded annually, calculate the annuity's a. Future value b. Present value
-
Blue Moon Taxi Service is a very busy local taxi service. Recently, a retirement village opened up in Blue Moons area, driving up volumes to the point where Blue Moon is having trouble responding in...
-
Calculate the following for each of the years listed A. Debt/ Equity ratio B. Debt/asset ratio C.Profit Margin (as a %) D. Gross Margin (as a %) E. Calculate the change in profit margin over each...
-
Calla Canoe Company has experienced rapid growth in its first few months of operations and has had a sig in customers renting canoes and purchasing T-shirts. Many of these customers are asking for...
-
the Jordan family has a health insurance policy with the following characteristics: a. Deductible: $1,000 b. Coinsurance Provision: 80%/20% c. Out of Pocket Maximum: $5,000 If total health expenses...
-
Review one of the clinical personality measures (i.e., Minnesota Multiphasic Personality Inventory-2, Millon Clinical Mutliaxial Inventory-III, Personality Assessment Inventory, Revised NEO...
-
4. Calculate the payment of the loan of $20,000 interest Prime +2.0% and the term is 4 years - 48 months. (assume prime is 7.2%) 5. Calculate GDS and TDS (before the new loan payment and after...
-
Trayer Corporation has income from continuing operations of $290,000 for the year ended December 31, 2019. It also has the following items (before considering income taxes). 1. An unrealized loss of...
-
A superior criticized a sales manager for selling high-revenue, low-profit items instead of lower-revenue but higher-profit items. The sales manager responded, My income is based on commissions that...
-
Perhaps another way to explain the outcome of the test in Exercise 13.59 is that Republicans wait longer to have children. a. Test to determine whether Republicans are older than Democrats (PARTYID3:...
-
Does education play a role to explain the results in Exercise 13.59. a. Test to determine whether there is enough evidence to infer that Republicans (PARTYID3: 1 = Democrat; 3 = Republican) more...
-
Refer to Exercise 13.59. If it is true that Republicans (PARTYID3: 1 = Democrat; 3 = Republican) have higher incomes than Democrats, is it because they work harder? a. Conduct a statistical test to...
-
What strategies might you use to implement the personal change needed to support organizational change? What is the relevance of unity consciousness in organizational leadership, communications, and...
-
Recognizing the literature (and its limitations) for conveying policing organization, management, and change - what management/organizational changes are needed in policing today? Why? How do we set...
-
How do organizations effectively navigate the complexities of organizational change, integrating advanced change management methodologies to mitigate resistance and foster sustainable transformation?
Study smarter with the SolutionInn App