How much interest will you have earned altogether at the end of a two-year period if you
Question:
How much interest will you have earned altogether at the end of a two-year period if you deposit $75 at the start of every month for 24 months? Assume your money will earn 6% compounded monthly.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 45% (11 reviews)
Given Alison will save 137166 1350 2166 in current ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Your bank offers 3 percent annual interest on savings deposits. If you deposit $560 today, how much interest will you have earned at the end of one year?
-
The following is an actual promotional pamphlet prepared by Trust Company Bank in Atlanta, Georgia: "Lower your monthly car payments as much as 48%." Now you can buy the car you want and keep the...
-
If you deposit $100 at the end of every month into an account that pays 3% interest per year compounded monthly, the amount of interest accumulated after n months is given by the sequence
-
Suppose that the weight of a typical American male follows a normal distribution with = 180 lb and = 30 lb. Also, suppose 91.92% of all American males weigh more than I weigh. a. What fraction of...
-
An air standard Diesel cycle has a compression ratio of 20 and cutoff ratio of 3. At the beginning of the compression process, air is at 90 kPa and 20oC. Using the PG model for air, determine (a) The...
-
A Social Security number consists of nine digits in a particular order, and repetition of digits is allowed. If randomly selecting digits for one Social Security number, what is the probability that...
-
Two small, irregularly shaped conducting objects, one carrying charge \(+q\) and one carrying charge \(-q\), are placed on an \(x\) axis at \(x=-4.0 \mathrm{~m}\) and \(x=+4.0 \mathrm{~m}\),...
-
Data for Schmidt Company is presented in the following table of rates of return on investment and residual incomes: Determine the missing items, identifying each item by the appropriateletter. Income...
-
8.The following data is available: Country Y currency Dollar Country X currency Peso Country Y interest rate 1% per year Country X interest rate 3% per year Country X expected inflation rate 2% per...
-
The program execution of Figure is described in the text using six steps. Expand this description to show the use of the MAR and MBR. Fetch stage Execute stage CPU registers Memory CPU registers emo...
-
Sylvia and Maclean are exactly the same age. From age 30 to age 60, Sylvia invested $3000 at the end of every six months. Maclean invested $6000 at the end of every six months from age 45 to age 60....
-
The following table shows the rates of total return in successive years from 2011 to 2015 for the NEI Ethical Balanced Fund Series A and for the benchmark Toronto Stock Exchange S&T/TSX Composite...
-
Assume a project has a CF0 of \($100\),000. The investment is expected to generate \($5\),000 annually for the next four years followed by a return of the principal investment, \($100\),000. If the...
-
How does one improve the performance of teams who have a lot of experience of working together?
-
Examine the frameworks for analysing organizational culture, and state which one you personally feel is the more credible.
-
What is the difference between an internally imposed norm and an externally imposed norm?
-
What is the difference between the process model and the continuous change process model in the context of planning and implementing organizational change?
-
Examine the benefts of culture and comment on the role of symbolic action.
-
Assuming that MNC entered into a forward contract to sell 10 million South Korean won on December 1, 2013, as a fair value hedge of a foreign currency receivable, what is the net impact on its net...
-
The words without recourse on an indorsement means the indorser is: a. not liable for any problems associated with the instrument. b. not liable if the instrument is dishonored. c. liable personally...
-
If the control limits of an x chart are set at 2.5 standard errors from the centerline, what is the probability that on any sample the control chart will indicate that the process is out of control...
-
Your education as a statistics practitioner can be considered a production process overseen by the course instructor. The variable we measure is the grade achieved by each student. a. Discuss chance...
-
What is meant by special variation?
-
What measures can organizations implement to promote transparency and accountability in the budgeting process, thereby fostering trust and buy-in among stakeholders and facilitating...
-
Based on the following cost expenditures for the construction of an office / warehouse development ( to include direct and indirect charges ) , calculate the peak financial requirement: Month Monthly...
-
Carlos has worked very hard through his career as a teacher and is contemplating an early retirement. He already has a pension in place commencing at retirement age but wants to cut back on his...
Study smarter with the SolutionInn App