Sarah has been making regular, equal deposits at the end of every three months into a Tax
Question:
Sarah has been making regular, equal deposits at the end of every three months into a Tax Free Savings Account (TFSA) for the last four years. Her funds have earned 4.2% compounded quarterly. Sarah's accumulated savings are $2858.44. How much has she deposited at the end of each quarter?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
The payments represent an ordinary simple ann...View the full answer
Answered By
Anurag verma
i done my civil engineering in 2017 since than i started teaching to the engineering student and also k 12 student and help the student to understand the difficult problem and build concept and also motivate them for study
0.00
0 Reviews
10+ 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
-
How much money would you have at the end of 10 years if you made deposits of $4,000 at the end of every three months into an investment that accumulated at 9 compounded quarterly
-
Ms. Simms made deposits of $540 at the end of every three months into a savings account. For the first five years interest was 5% compounded quarterly. Since then the rate of interest has been 5.5%...
-
Northern Flying Service is preparing to buy an aircraft estimated to cost $60 000 by making equal payments at the end of every three months into a sinking fund for five years. Interest earned by the...
-
Considering Vdc = 2 volt, find the load line (Showing all calculations) Data Collection: Theoretical value:R=1kse Measuned valu e:R Ike Vde (volt) Va (volf> VR (volt) I VR CHA) 0.1 0.09 0.00 2 0.00...
-
In a steam power plant operating on a reheat Rankine cycle, steam enters the high pressure turbine at 15 MPa, 620oC and is condensed in the condenser at a pressure of 15 kPa. If the moisture content...
-
Transaction data for Royale Real Estate Agency are presented in E2.4. Instructions Journalize the transactions. E2.4 Oct. 1 James Royale begins business as a real estate agent with a cash investment...
-
A 10-sided die, numbered 1 to 10, is rolled. Find the probability that the roll results in an even number or a number greater than 6. Use the pie chart at the left, which shows the percent...
-
The Lineberry Golf Cart Co. sold 7,400 carts this year at an average unit price of $3,000. Fifty days of sales remained uncollected in accounts receivable at the end of the year. The firm produced...
-
At December 31, balances in Manufacturing Overhead are Sandhill Company-debit $1,360, Wildhorse Company-credit $1,120. Prepare the adjusting entry for each company at December 31, assuming the...
-
Early in its fiscal year ending December 31, 2024, San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 28 with the purchase of a tract of land on the...
-
Halima will deposit $500 at the end of every six months into a savings plan that earns 3% compounded semiannually. After how many deposits will Halima have surpassed her savings goal of $7000?
-
An annuity earning 3.5% compounded semiannually has a present value of $50,000. How many payments of $3425.81 at the end of every six months will the annuity sustain?
-
Identify the rule that is broken by invalid syllogisms of the following forms, and name the fallacy that each commits: OEO4
-
Consider two probabilities P and Q defined on the sample space 05 (w1, w2, w3) in the following way: p(w1) = 0, p(w2)=0.4, p(w3) -0.6, and a(w1)=0.4, q(w2) -0, q(w3) = 0.6. Are P and Q equivalent...
-
Would a leader with a high concern for task differ from a leader with high concern for relationships?
-
a) What are the Macaulay's and Modified durations for a 7% annual bond with three years to maturity? YTM is 8%. b) Suppose the yield on the bond in part b) suddenly increase by 2%. Use duration...
-
As a Construction Manager in the commercial construction industry and the firm is focused on general contracting method of contract. the role is one of construction only as the project has been...
-
Identify and explain conceptual connections between the film Alien (1979) and Breeding Influenza: The Political Virology of Offshore Farming by Robert G. Wallace. a. Where do the author's...
-
Arctic Air Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follows: Price............................$60,000 per unit Cost of goods...
-
Consider the setup in Problem 16. Show that the relative speed of the ball and the point of contact on the stick is the same before and immediately after the collision. (This result is analogous to...
-
Test the hypothesis that the hazard ratio for smoking 20 pack-years vs. never smoking is significantly different (at the 5% level) for men vs. women? Most risk factors seem of comparable magnitude...
-
Suppose we wish to conduct a clinical trial to study the association between ASA and colon cancer. We will enroll 50,000 women in the study, half of whom will be assigned to ASA and half to placebo....
-
Suppose we want to enroll n subjects per group in the previously proposed study and follow each woman for 5 years. How many subjects do we need to achieve 90% power? Most risk factors seem of...
-
You are working in a clinic and have just roomed a patient. When you come out of the room, you overhear me complaining to two co-workers about you and how slow you are. [Take the role of the other...
-
What are the advantages and pitfalls of the media's appetite for telling and selling stories? As we reach the point where almost all media exist on the Internet in some form, how have our culture and...
-
When looking at a project to convert data into information, data analysis is the methodology thatshould be used to accomplish the output. When reviewing the tools used in the course and the data that...
Study smarter with the SolutionInn App