Scott has saved $560 per quarter for the past three years in a savings account earning 5.2%
Question:
(a) How much will Scott have in total in his savings account?
(b) How much did he contribute?
(c) How much will be interest?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (12 reviews)
a After three years PMT 56000 i 13 n 12 Amount seven years later PV 72219...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ 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
-
How much will $1,000 deposited in a savings account earning a compound annual interest rate of 6 percent be worth at the end of the following number of years? a. 3 years b. 5 years c. 10 years
-
Jim Williams placed $3,500 in a savings account earning 7% annually. How much money will he have in the account at the end of six years?
-
A local furniture store is advertising a deal in which you buy a $5,000 living room set with three years before you need to make any payments (no interest cost is incurred). How much money would you...
-
In this study researchers found a correlation between the cleanliness of the homes children are raised in and the years of schooling completed and earning potential for those children What...
-
A recent study by Allstate Insurance Co. finds that 82% of teenagers have used cell phones while driving (The Wall Street Journal, May 5, 2010). In October 2010, Massachusetts enacted a law that...
-
RRM Incorporated has just declared a dividend of $10.25 per share. The tax rate of dividends is 20 percent. The tax rate on capital gains is zero. The tax laws require the taxes to be withheld when...
-
Identify the important legal provisions governing information security and privacy in your country.
-
Melton Corporation is preparing the comparative financial statements for the annual report to its shareholders for the fiscal years ended May 31, 2011, and May 31, 2012. The income from operations...
-
XYZ Limited is a listed company on the Jamaica Stock Exchange. Its market capitalization as at December 3 1 , 2 0 1 5 was $ 5 5 0 m and the outstanding shares at the same date was 4 0 , 0 0 0 , 0 0 0...
-
What would be the output generated by the following code? import java.util.concurrent.*; public class Main { public static void main (String [] args) { new ConcurrentHashMap (); ConcurrentHashMap chm...
-
Cam saved $250 each month for the past five years while he was working. Since he has now gone back to school, his income is lower and he cannot continue to save this amount during the time he is...
-
To purchase a specialty guitar for his band, for the past two years JJ Morrison has made payments of $92 at the end of each month into a savings account earning interest at 4.03% compounded monthly....
-
You are now familiar with a number of accounting concepts. Identify which among them would be relevant when deciding on: (a) The value at which inventory is reported on the Statement of financial...
-
Suppose that {(t), (t)} is a fundamental set of solutions for y" + Py' + poy = 0. (a) Write $1 M Explain why this matrix is invertible (Hint: Think about Wronskians) (b) Suppose that = c1+ C22 is a...
-
The company has three members: P holds 50 000 shares; Q and R hold 20 000 shares each. The members have had a disagreement about the value of the land and buildings and their respective...
-
The arbitrary monic polynomial with distinct real roots r1, r2 is of the form: p(r) = r (r+r)r +rr find the solutions to the IVPS: - With the ODE y" (r +r)y' + rr2y = 0, (0) = 1, 2 (0) = 0, 1 (0) =...
-
Solve the following partial differential equations using the explicit method. For the space discretization use three-point central difference approximations with ax=1/40 and 1, =.5. i) E du at d'u du...
-
Basic growth ratio-1. Consider the following data for the year ended December 31. 2012: R.Co. J Co. P 200 500 120 Earnings per share Market price per ordinary share Dividend per ordinary share...
-
Solve the given problems. All data are accurate to two significant digits unless greater accuracy is given One grade of oil has 0.50% of an additive, and a higher grade has 0.75% of the additive. How...
-
In the simple quantity theory of money, what will lead to an increase in aggregate demand? In monetarism, what will lead to an increase in aggregate demand?
-
Complete Inventory Table B for the total retail value.
-
Use Inventory Table A and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 30% gross profit is realized on sales and net sales are $115,440.
-
Use Inventory Table B and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 54% gross profit on sales is realized and net sales are $1,644.72.
-
How do the resource descriptions (typing) used in the Incident Command System lead to a more effective response?
-
A company incurs $4172000 of overhead each year across three departments: Ordering and Receiving, Mixing, and Testing. The company prepares 2000 purchase orders, works 50000 mixing hours, and...
-
Hemming Company reported the following current-year purchases and sales for its only product. Date January 1 January 10 Activities Beginning inventory March 14 March 15 July 30 Sales Purchase Sales...
Study smarter with the SolutionInn App