If Joenita invests $1500 in a retirement account that earns 8% compounded annually, how long will it
Question:
If Joenita invests $1500 in a retirement account that earns 8% compounded annually, how long will it take this single payment to grow to $5000?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
We know that A P 1 rn nt A A 5000 P 1500 r 8 008 n 1 t Now ...View the full answer
Answered By
Muhammad Zaher Rasheed
Hi, I am Muhammad Zaher Rasheed from Pakistan. I have good skills in electrical engineering courses that are calculus, differential equation, applied probability , circuit analysis and design, signals and systems, power system analysis etc. I want to help the students who are facing problem in their studies.
Education is a continuous process in which we learn new materials every day. Education will lead all of us to achieve bigger goals. The understanding of nature and our every day life tasks has been simplified through the spread of education.
0.00
0 Reviews
10+ Question Solved
Related Book For
Calculus Graphical, Numerical, Algebraic
ISBN: 9780132014083
3rd Edition
Authors: Ross L. Finney, Franklin D. Demana, Bert K. Waits, Daniel Kennedy
Question Posted:
Students also viewed these Mathematics questions
-
How long will it take $2,000 to reach $5,000 when it grows at 10 percent per year?
-
How long will it take to produce 1.00 103 kg of magnesium metal by the electrolysis of molten magnesium chloride using a current of 5.00 104 A?
-
How long will it take for monthly payments interest rate on the loan is: a. 6% compounded monthly? b. 7% compounded monthly? c. 8% compounded monthly? d. 9% compounded monthly
-
Brandon Stroud was driving a golf car made by Textron, Inc., to transport guests at Christmas party. The golf car did not have lights, but Textron did not warn against using it on public roads at...
-
What are the effects of organizational politics?
-
Zear Company produces an electronic processor and sells it wholesale to manufacturing and retail outlets at $10 each. In Zears Year 8 fiscal period, it sold 500,000 processors. Fixed costs for Year 8...
-
How can quota sampling being applied through a website like www.linkedin.com?
-
Parent Company establishes three wholly owned affiliates in countries X, Y, and Z. Its total investment in each of the respective affiliates at the beginning of the year together with year-end...
-
Within a given industry, provide an example of a market leader, market challenger, market follower, and market nicher. Explain why you think each takes that particular position in the marketplace....
-
Allie has bought a new apple orchard. The orchard has a single file of trees, numbered from 1 to N. Each tree has a certail number of ripe apples. Allie has a rule she wants to follow. She wants to...
-
In Exercises (a) graph o g and g o and make a conjecture about the domain and range of each function, (b) Then confirm your conjectures by finding formulas for o g and g o . (x) = x - 7, g(x) = x
-
(a) Give a convincing argument that is one-to-one. (b) Find a formula for the inverse of . (c) Find the horizontal and vertical asymptotes of . (d) Find the horizontal and vertical asymptotes of -1...
-
A closed system consists of two particles of masses m1 and m2 which move at right angles to each other with velocities v1 and v2. Find: (a) The momentum of each particle and (b) The total kinetic...
-
(20 pts.) 2SAT. In the 2SAT problem, you are given a set of clauses, where each clause is the disjunction (OR) of two literals (a literal is a Boolean variable or the negation of a Boolean variable)....
-
These two compression utilities compress files and are similar in their functions and operations. The main difference is that compression than , but the latter is much more widely used offers...
-
Consider the training examples shown in the following table for binary classification (class labels are mammals and non-mammals): Give Birth yes no no yes no no yes no yes yes no no yes no no no no...
-
2.3 Version 1 The source file of your program should be named prog03v1.c. For a given image and pattern your program should look for every occurrence of the pattern in the image and report in an...
-
English: The counter below has counted to state Q3QQQ0 = 1001. What is the next state? Q3 Q Q Qo Count/Load Clock En PH 74HC161 (MR, EN T = H) D D D Do 0 1 1 0
-
(a) Prove that the x2 distribution is stochastically increasing in its degrees of freedom; that is, if p > q, then for any a, P(x2p > a) P(X2q > a) with strict inequality for some
-
Explain why each of the following is either a private good or a public good: traffic lights, in line skates, a city park, a chicken salad sandwich, a tennis racket, national defense, a coastal...
-
Suppose we are uncertain whether a normal distribution provides a good fit to the distribution of age at spermatogenesis. Answer this question using the results from Problems 10.4710.49. (Assume that...
-
Suppose mean age at spermatogenesis = 13.67 years, with standard deviation = 0.89 years and we assume that the age at spermatogenesis follows a normal distribution. The pediatrician would like to...
-
If we assume that all boys have no sperm cells at age 11 (11.0 years) and all have sperm cells at age 18, then estimate the probability of first developing sperm cells at ages 12 (i.e., between 12.0...
-
Briefly define TinyOS and explain its goals as an embedded operating system.?
-
Consider the graph shown on the right. Find the strongly connected components of the graph. Whenever you use DFS and there is a choice of nodes to explore, always pick the one that is alphabetically...
-
After viewing the previous video, "Types of Operating Systems As Fast As Possible", explain the difference between embedded operating systems and desktop operating systems. (300-yep, you guessed it)...
Study smarter with the SolutionInn App