To save for graduate school, Ena invests $1500 semiannually in an ordinary annuity with a 6% interest
Question:
To save for graduate school, Ena invests $1500 semiannually in an ordinary annuity with a 6% interest rate compounded semiannually. Determine the accumulated amount in Ena’s annuity after 10 years.
Round all answers to the nearest cent.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
A 00 10...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
A Survey Of Mathematics With Applications
ISBN: 9780135740460
11th Edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
Question Posted:
Students also viewed these Mathematics questions
-
To save for graduate school, Ena invests $2000 semiannually in an ordinary annuity with a 7% interest rate compounded semiannually. Determine the accumulated amount in Enas annuity after 10 years....
-
Use the ordinary annuity formula to determine the accumulated amount in each annuity. Round all answers to the nearest cent. $800 invested semiannually for 20 years at a 5% interest rate compounded...
-
Use the ordinary annuity formula to determine the accumulated amount in each annuity. Round all answers to the nearest cent. $5200 invested annually for 30 years at a 3.5% interest rate compounded...
-
A company acquires the assets and liabilities of another company. The fair value of the acquired companys identifiable net assets is $5,000,000. The acquisition transaction includes the following:...
-
Alpha perfects its security interest by properly filing a financing statement on January 1, 2010. Alpha files a continuation statement on September 1, 2014. It files another continuation statement on...
-
Give an example of a liquid investment and an illiquid investment. Discuss why you consider each of them to be liquid or illiquid.
-
Political expectations, inflation, and unemployment Consider a country with two political parties, Democrats and Republicans. Democrats care more about unemployment than Republicans, and Republicans...
-
On January 5, 2010, Phelps Corporation received a charter granting the right to issue 5,000 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 50,000 shares of $10 par...
-
5. [10] Alice and Bob play a game on a graph G, alternately choosing distinct vertices. Alice starts by choosing any vertex. Each subsequent choice must be adjacent to the preceding choice (of the...
-
Mary is planning her wedding and develops the following preliminary information. For this problem, the normal times have been changed from OM3 a. Draw the network for this project. b. What is the...
-
In Exercise, given determine the following. 3A - 2B -1] and B 3 57 2. 3 A -3 2 ||
-
A partial payment is made on the date(s) indicated. Use the United States rule to determine the balance due on the note at the date of maturity. The Effective Date is the date the note was written....
-
Which substance has the greatest band gap? a) Silicon b) Germanium c) Lead d) Gold
-
Using real-world examples, discuss the possible risks involved when a market is dominated by one or a few very large firms.
-
Using real-world examples, evaluate the view that governments should maintain strong policies to control collusive behaviour by oligopolies.
-
How would you classify each of the following industries in the USA? 1. Breakfast cereal manufacturing: 48 firms, CR, - 82.9% 2. Textile mills: 3,863 firms, CR, - 13.8% = 3. Breweries: 494 firms, CR,...
-
a) Explain why the existence of positive externalities in a market is a case of market failure. b) Using real-world examples, evaluate to what extent governments should intervene in the market for...
-
a) Explain why negative externalities of consumption are a market failure. b) Using real-world examples, evaluate policies that could be used by governments to reduce the market failure associated...
-
Assume that a system AX = B of linear equations has at least two distinct solutions Y and Z. Show that Xk = Xm implies k = m.
-
In the series connection below, what are the respective power consumptions of R, R2, and R3? R R www 4 V=6V P1-3 W; P2=3W; and P3= 3 W OP10.5 W; P2-1 W; and P3= 1.5 W P1=1.5 W; P2=1 W; and P3= 0.5 W...
-
The History Club of St. Louis is voting on which city to visit for its spring trip. The choices are New York City (N), Washington, D.C. (W), Philadelphia (P), and Boston (B). The preference table for...
-
The Motley Crew Investing Club wishes to purchase stock in a pharmaceutical company. The choices are American Pharmacy (A), Burrows-Welcome (B), Chicago Labs (C), Dow Chemical (D), and Emerging...
-
The Campbell Soup Company is selecting a new spokesperson for its advertisements. The choices are Jennifer Lawrence (L), Bradley Cooper (C), and LeBron James (J). At the annual meeting of its...
-
Rochelle Company is an Internet service provider. They own a large number of servers and other equipment, which costs $200,000 per year. Capacity costs estimates are reported on a per service hour...
-
Compare the alternatives below on the basis of their capitalized costs. Assume the MARR is 10% per year, compounded annually Project A Project B Project C First cost ($200,000) ($275,000) ($800,000)...
-
Project 1 is a new software installation that will improve the efficiency of ybur accounting department, Investment costs are: - Initial installation (at year 0 on the timeline) $200,000 - $15,000...
Study smarter with the SolutionInn App