Pearson sets up a fund to pay $1000 at the end of each month for 9.5 years.
Question:
(a) How much money must be deposited into the fund?
(b) How much will be paid out of the fund?
(c) How much interest is earned by the fund?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (5 reviews)
a Money Deposited in the fund 1000 12 95 114000 b 39 compounded ...View the full answer
Answered By
Rochak Agarwal
I have been a tutor for the past around 2 years, I like online tutoring because I can help many people with different problems which they face. This tutoring thing for me started when I was in my graduation years and I loved accounting and finance section so much that i started teaching those subjects to my friends and from there on I shifted to online tutoring and since then I have been helping students in these two subjects, be it with assignments related to this or projects or any topics which the students have doubt in. My forte which my students have given me is that I try to simplify things in order for my students to understand the concept better so that they don't forget about what they have learnt.
0.00
0 Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
A mortgage broker offers to sell you a mortgage loan contract that will pay $800 at the end of each month for the next 3 1/2 years, at which time the principal balance of $45,572 is due and...
-
The owners of Cheers in Town, a neighbourhood restaurant, have plans to purchase a new plasma TV. If they finance the purchase through the stores promotional financing option, they would pay $97 at...
-
Monthly deposits of $480 were made at the end of each month for eight years. If interest is 4.5% compounded semi-annually, what amount can be withdrawn immediately after the last deposit?
-
In the Young's double slit experiment, interference fringes are formed using Na-light of 589 nm and 589.5 nm. Obtain the region on the screen where the fringe pattern will disappear. You may assume...
-
According to a survey of 1,235 businesses by IDC, a market-research concern in Framingham, Massachusetts, 12.1% of sole proprietors are engaging in e-commerce (The Wall Street Journal, July 26,...
-
The Daniels Tool & Die Corporation has been in existence for a little over three years. The company's sales have been increasing each year as it builds a reputation. The company manufactures dies to...
-
The advantage of the vapour-compression refrigeration system over the absorption refrigeration system is that (a) The charging of the refrigerant is quite simple (b) The space requirement for...
-
The U-Z Door Company manufactures garage door units. The units include hinges, door panels, and other hardware. Prepare a direct materials purchases budget for the first quarter of the year based on...
-
On 1 August the balance of the Accounts receivable control account for Solid Rental Company was $10 500. The customers' subsidiary ledger contained account balances as follows: Anton $3 000 Carmine...
-
1. Using the four functions as your guide, what challenges would Jeff Bourk face in managing the Branson Airport? 2. Again, using the four functions as your guide, do you think the managerial...
-
Over 14 years, Casey has saved $7200 by authorizing $30 to be deducted at the end of every month through a payroll deduction plan at his work. The money was sent to his savings account to be...
-
How long will it take to build up a fund of $10 000 by saving $300 at the end of every 6 months at 4.5% compounded semi- annually?
-
The electron in a hydrogen atom occupies the combined spin and position state (a) If you measured the orbital angular momentum squared (L 2 ), what values might you get, and what is the probability...
-
Mass m = 2.04 kg is connected to mass m = 1.6 kg as shown in the diagram above. Both masses start from rest and are moving with a speed of 1.73 m/s just before m2 hits the floor. If the coefficient...
-
The bob of a pendulum has a mass of 1.00kg. The bob is suspended 15.0cm above the floor. The length of the pendul is such that when the string is pulled aside 15, the bob is 20.0 cm above the floor....
-
A capacitor is made from two parallel plates of area A, which are separated by a distance d. The region between the plates is filled by a dielectric of dielectric constant x. The capacitor is first...
-
Picture yourself in the castle of Helm's Deep from the Lord of the Rings. You are on top of the castle wall and are dropping rocks on assorted monsters that are 18.35 m below you. Just when you...
-
Two point charges, each with a charge of magnitude 2.5 mC but opposite signs, are separated by 4.3 nm. The line connecting them makes a 60 angle with an electric field of magnitude 6600 N/C as shown...
-
Describe three information system trends.
-
Write electron configurations for the following ions, and determine which have noble-gas configurations: (a) Cd2+ (b) p3- (c) Zr4+ (d) Ru3+ (e) As3- (f) Ag+
-
In Problem determine which of the equation specify function with independent variable x. For those that do, find the domain. For those that do not, find a value of x to which there corresponds more...
-
In Problem determine which of the equation specify function with independent variable x. For those that do, find the domain. For those that do not, find a value of x to which there corresponds more...
-
In Problem find and simplify expression if f(x) = x2 - 1 f(5 + h) - f (5)
-
3. Show that : -3t = y 3 sin(t) cos(t) + e is a solution to the differential equation y' + 3 y 10 sin(t)
-
The United States, Austrailia, Canada, and the United Kingdom cluster high on individualism but low on power distance on Hofstede\'s cutlutral graph. What does this mean to someone looking to market...
-
Mini-garden project Week one of the mini-garden project involved Sacha and her fellow pre-schoolers planting sunflower seeds into the outdoor garden bed. Each child in the activity has been assigned...
Study smarter with the SolutionInn App