A bank account pays 19.2% interest with monthly compounding. A series of deposits started with a deposit
Question:
A bank account pays 19.2% interest with monthly compounding. A series of deposits started with a deposit of $5000 on January 1, 1997. Deposits in the series were to occur each 6 months. Each deposit in the series is for $150 less than the one before it. The last deposit in the series will be due on January 1,2012, what is the future worth of the account on July 1, 2014, if the balance was zero before the first deposit and no withdrawals are made?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
i semiannual 1 019212 6 1 010 10 F 1112 F A F G From the compou...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Even if all companies in the world were to use IFRS, what are two obstacles to the worldwide comparability of financial statements?
-
Suppose the proton-proton cycle in the Sun were to slow down suddenly and generate energy at only 95% of its current rate. Would an observer on Earth see an immediate decrease in the Suns brightness?...
-
Montoure company uses a perpetual inventory system. It entered into the following calendar year purchases and sales transactions. January 1 Beginning Inventory 600 units at $60 per unit. February 10...
-
BA%20508%202022%20Sprg%20Group%20Proj%202%20instructions.pdf ^ Total variable OH incurred during the year was $83,420 and total fixed OH incurred was $140,540. OH gets applied to products using...
-
Sketch the graph of the function. 1. g(x) = [x] 2 2. g(x) = [x + 4] 3. 4. (5 3, f(x) = 1-4 + 5, < 1 2 -1 f(x) = 2 + 1, < 2 (2? + 1, > 2
-
What are some examples of system controls?
-
Examine how the rank of the stoichiometric matrix can be used to reduce the number of equations to be solved. For example, if there are \(n_{\mathrm{s}}\) components and \(n_{\mathrm{r}}\) equations...
-
Oak Industries, a manufacturer of radio and cable TV equipment and an operator of subscription TV systems, had a multitude of problems. Subscription services in a market area, for which $ 12 million...
-
3. The market share of Seattle Mills is $407 million. The claims on Seattle Mills are split between common stock and a 12% debt that has a face value of $350 million and that matures in five months....
-
Find the output voltage vo(t) in the circuit of Fig. 8.94. t=0 10 512
-
A family starts an education fund for their son Patrick when he is 8 years old, investing $150 on his eighth birthday increasing the yearly investment by $150 per year until Patrick is 18 years old....
-
Let's assume that a late-twentieth century college graduate got a good job and began a savings account. He is paid monthly and authorized the bank to automatically withdraw $75 each month. The bank...
-
Use the data in Appendix 3 to calculate the equilibrium constant for the reaction Agl(s) Ag+(aq) + I2(aq) at 25C. Compare your result with the Ksp value in Table 16.2.
-
An electron is located at coordinates (-a, a); another electron is located at coordinates (-a, -a); a third electron is located at coordinates (a, -a), as shown in the figure below. Each electron has...
-
The U.S. Department of Transportation reported the accompanying data on the number of speeding-related crash fatalities during holiday periods for the years from 1994 to 2003. Holiday Period 1994...
-
When a force F acts on an object at some distance r from a point P, called the pivot point, it can cause the object to rotate rather than translate. The ability of a force to cause rotation is called...
-
The magnitude of E is given by 191 2 |E| = E = Ke E = ke where ke is Coulomb's constant and r is the distance, h, of P from 9. We have 191 2 r r1 I = Ke , Need Help? Read It h = (8.99 x 109 Nm/C2)-...
-
Consider the system of masses connected by light ropes that pass over massless and frictionless pulleys shown in the figure. If m = 1.0 kg and m = 2.5 kg, calculate (a) the accelerations of each...
-
(a) Do the two carts in Figure 4.24 still constitute an isolated system like the carts in Figure 4.23? (b) What does your answer to part a imply about the momentum of the system comprising the two...
-
Three forces with magnitudes of 70pounds, 40 pounds, and 60 pounds act on an object at angles of 30, 45, and 135, respectively, with the positive x-axis. Find the direction and magnitude of the...
-
Suppose you want to buy a stock, which will pay $1 dividend in next year, the price of this stock will be $55 in next year. How much are you willing to pay for this stock today, if your required rate...
-
David Kapamagian borrowed money from a bank to finance a small fishing boat. The banks loan terms allowed him to defer payments (interest is still being charged even though payment is deferred) for...
-
Alice Harzem wanted to purchase a new car for $18,400. A dealer offered her financing through a local bank at an interest rate of 13.5% compounded monthly. The dealers financing required a 10% down...
-
A restaurant is considering purchasing the lot adjacent to its business to provide adequate parking space for its customers. The restaurant needs to borrow $44,000 to secure the lot. A deal has been...
-
1. Mention five key organizational characteristics that the Cll research team identified for organizations with effective quality management systems. provide brief discussion of each and how it...
-
When a metal was exposed to photons at a frequency of 1.46 1015 s1, electrons were emitted with a maximum kinetic energy 3.60 10-19 J. G ? Calculate the work function, , of this metal. J/photon What...
-
No. 101 Debit Cash $ 2,400 Question 2 (10 pts) On November 1, 2024, the account balances of Schilling Equipment Repair were as follows. Accumulated Depreciation-Equipment A Clipboard Font Alignment...
Study smarter with the SolutionInn App