How long will it take to build up a fund of $10 000 by saving $300 at

Question:

How long will it take to build up a fund of $10 000 by saving $300 at the beginning of every 6 months at 4.5% compounded semi-annually?

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

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Question Posted: Feb 26, 2016 04:06 AM

See More Questions

How long will it take to double an investment of $ 4,300 if the investment can generate an 8 percent return that is compounded semiannually?
Keys Company has targeted to build up a fund of $50 000. If $10 000 is deposited at the end of every six months, and the fund earns interest at 4% compounded quarterly, how long will it take to reach...
How long will it take to save $15 000 by making deposits of $90 at the end of every month into an account earning interest at 4% compounded quarterly?
Since the introduction of enhanced security measures by the U.S. Department of Homeland Security in 2017, flights bound for the U.S. from Canada are subject to additional screening by airline...
Find the following probabilities based on the standard normal variable Z. a. P(-0.67 Z 20.23) b. P (0 Z 1.96) c. P(-1.28 Z 0) d. P (Z <4.2)
Dontae's employer has offered him the following employment package. Salary Health insurance Dental insurance Membership to Heflin Country Club Season tickets to Atlanta Braves games Tuition...
National Life Expectancies. We continue the analysis begun in Exercises 1.7and 2.22 Now fit a regression model on LIFEEXP using three explananatural logarithmic transform of PRIVATEHEALTH). a....
How does perception affect behavior?
Gitano Products operates a job - order costing system and applies overhead cost to jobs on the basis of direct materials used in production ( not on the basis of raw materials purchased ) . Its...
Identify the main operator in the following propositions. 1. (A M ) (C E ) 2. (G P) (H W) 3. [P (S K)] 4. (K O) (R B) 5. (M B) [E (C I)] 6. [(P R) (E F)] 7. [(S L) M] (C N)...
A 6-year lease contract valued at $49 350 requires semi-annual payments. If the first payment is due at the date of signing the contract and interest is 9% compounded monthly, what is the amount of...
Terry saves $50 at the beginning of each month for 16 years. Beginning 1 month after his last deposit, he intends to withdraw $375 per month. If interest is 6% compounded monthly, for how long can...
Produce a design domain version of the classes in Fig. 12-7. Controller id 1 0..1 Person | < > < > +id: PersonID +name: String | < > +date_of_birth Date +/municipality_of_residence: municipality:...
The data set provided in the following page shows the daily high and the daily low temperatures of DFW Airport, for the month of September, from 2017 to 2021. Answer the following problems. Be sure...
For this problem a 2d array of ints represents the value of each block in a city. Each element in the array is a city block. The value of a block could be negative indicating the block is a liability...
A school for boys has 242 students in Form 4. Information about the students' participation in sports is as follows: 132 boys play Rugby 68 boys play Basketball 105 boys play Cricket 25 boys play...
Billie Whitehorse, the plant manager of Travel Free's Indiana plant, is responsible for all of that plant's costs other than her own salary. The plant has two operating departments and one service...
Bazza's Bungy Jumping uses a different type and length of bungy cord depending on the weight of a customer. Bazza eyes-off a customer as they climb on to the jumping platform and classifies them as...
Find the indicated values. A formula used in determining the total transmitted power P t in an AM radio signal is P t = P c (1 + 0.500m 2 ). Find P c if P t = 680W and m = 0.925
Determine two different Hamilton circuits in each of the following graphs. A B F G
Compute the probability of event E if the odds in favor of E are (A) 3/5 (B) 1/7 (C) .6 (D) .35
Compute the probability of event E if the odds in favor of E are (A) 5/9 (B) 4/3 (C) 3/7 (D) 23/77
The theoretical probability of an event is less than or equal to its empirical probability. In Problem, discuss the validity of each statement. If the statement is always true, explain why. If not,...
Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a...
1. Review the following tracings, identify the type of BBB, and then explain how you determined your answers 2. Review the following tracing. Do you suspect left ventricular hypertrophy? Explain how...
What are signs that its time to cut corners to get the product launched, and what would you cut?

How long will it take to build up a fund of $10 000 by saving $300 at

Question:

Step by Step Answer:

FV due 10 00000 PMT 30000 i 225 10 00000 0733496 10225 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions