How much must you put aside at the beginning of each half-year if, in 6 years, you
Question:
How much must you put aside at the beginning of each half-year if, in 6 years, you want to have $12,000 and the current interest rate is 6.2% compounded semiannually?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
S 12000 n 62 12 i ...View the full answer
Answered By
Daniel Kimutai
I am a competent academic expert who delivers excellent writing content from various subjects that pertain to academics. It includes Electronics engineering, History, Economics, Government, Management, IT, Religion, English, Psychology, Sociology, among others. By using Grammarly and Turnitin tools, I make sure that the writing content is original and delivered in time. For seven years, I have worked as a freelance writer, and many scholars have achieved their career dreams through my assistance.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted:
Students also viewed these Mathematics questions
-
You want $100,000 after eight years in order to start a business. Currently you have $26,000, which may be invested to earn 7 percent annually. How much additional money must you set aside each year...
-
BACKGROUND You are an information analyst working for NEE. The company president has asked you to prepare a Quantitative analysis of financial, sales, and operations data to help determine which...
-
You have set a goal to save $10 000 in a savings account that earns interest at 2.54% compounded quarterly. How much must you deposit every three months for 5 years if the deposits are made at the...
-
One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations: Determine the missing amounts, identifying them...
-
Air enters an evaporative cooler at 1 atm, 38oC and 15% relative humidity at a rate of 5 m3/min, and it leaves with a relative humidity of 80%. Determine (a) The exit temperature (T2) of the air, (b)...
-
Calculate the area between the following two functions: 0=2^2 0=^22+8 Where TR = total revenue of the business C = total cost of the business Q = units of output
-
Describe the differences between an express and an implied contract.
-
In Problem Sl-5 assume that Nicole, with the help of a financial newsletter and some library research, has been able to assign probabilities to each of the possible interest rates during the next...
-
Find the inverse of the given matrix A using Gauss-Jordan elimination. -15 45 -3 4 55 -164 15 -15 A = -215 640 -62 59 -4 12 01
-
Massey Energy (MEE) is a mining company that processes and ships coal, operating 30 underground mines and 13 surface mines in West Virginia, Kentucky and Virginia. The company's steam coal is...
-
If you borrow $800 for 6 months at 6% annual simple interest, how much must you repay at the end of the 6 months?
-
Find the future value of an ordinary annuity of $3000 paid quarterly for 5 years, if the interest rate is 6% compounded quarterly.
-
Suppose the company decides to sell the equipment after three years for $60,000 and terminates the asset pool. Calculate the tax results.
-
Your company has determined that the time is right to expand globally. As a corporate manager within the organization, you have been assigned to identify and select a team of five to ten members from...
-
identify one strategic goal and trace that goal through the tactical and operational levels of planning with one specific example at each level. Specify the appropriate person in the organization...
-
you are preparing to leave home for several days. You cannot bring along your pets and your houseplants, and they will both need special care because they are alive. How is a living organism...
-
24-year-old Mariana single parent and her 5-year-old daughter, Gabriela. Income: 35,000 Expenses: 16,000 total (Annual rent: 16,000; car: 7500; credit cards: 6,000 making min. paymnts only) emergency...
-
In the situation below, a ball of mass 4kg is moving down a ramp. If at the point illustrated in the diagram, the ball has PE-32J and KE=50J, what is the speed the ball has?
-
What is the difference between a sales tax and a use tax?
-
In your audit of Garza Company, you find that a physical inventory on December 31, 2012, showed merchandise with a cost of $441,000 was on hand at that date. You also discover the following items...
-
Data Set 26 Cola Weights and Volumes in Appendix B includes weights (lb) of the contents of cans of Diet Coke (n = 36, x = 0.78479 lb, s = 0.00439 lb) and of the contents of cans of regular Coke (n =...
-
People spend around $5 billion annually for the purchase of magnets used to treat a wide variety of pains. Researchers conducted a study to determine whether magnets are effective in treating back...
-
We know that the mean weight of men is greater than the mean weight of women, and the mean height of men is greater than the mean height of women. A persons body mass index (BMI) is computed by...
-
As a precaution, the levers on gasoline pumps in many provinces in Canada must be manually operated at all times. One of the reasons for this is especially relevant in the winter time because the...
-
7. A transformer core is shown in cartoon form in Figure 8.26. This is made up of, perhaps implausibly, 29 gage M-36 laminations: the same sort of material described by Figures 8.19 and 8.20. Assume...
-
2. For a lamp that has a total luminous flux, of 4.5104 lm and total radiant flux, of 300 W, (a) what is the overall luminous efficiency, K for this lamp? (b) if this lamp has a luminous intensity of...
Study smarter with the SolutionInn App