Question: To get $800 after 3 1/3 years at 7% compounded monthly In problem, find the principal needed now to get each amount; that is, find

To get $800 after 3 1/3 years at 7% compounded monthly

In problem, find the principal needed now to get each amount; that is, find the present value.


Step by Step Solution

★★★★★

3.23 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

A 800 r 00... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Precalculus Questions!

Q:

To get $800 after 2 years at 8% compounded continuously In problem, find the principal needed now to get each amount; that is, find the present value.

Q:

To get $100 after 2 years at 6% compounded monthly In problem, find the principal needed now to get each amount; that is, find the present value.

Q:

To get $75 after 3 years at 8% compounded quarterly In problem, find the principal needed now to get each amount; that is, find the present value.

Q:

In Problems 1522, find the principal needed now to get each amount; that is, find the present value. To get $800 after 3 1/2 years at 7% compounded monthly

Q:

1. Find the present value of the annuity given the following. a) 36 monthly payments of $250 in an account where the interest rate is 3.5% compounded monthly. (2 marks)\f2. Find the payment needed to...

Q:

1.1.Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $150/month for 13 years at 3%/year compounded monthly 2.Rosita's announced that its next annual dividend...

Q:

To get $300 after 4 years at 3% compounded daily In problem, find the principal needed now to get each amount; that is, find the present value.

Q:

To get $600 after 2 years at4%compounded quarterly In problem, find the principal needed now to get each amount; that is, find the present value.

Q:

math 1. If a principal P is borrowed at a simple interest rate r (expressed as a decimal) for a period of t years, the interest charge I is __________. 2. If a lender deducts the interest from the...

Q:

The first 8 QUESTIONS in PART A deal with Compound Interest The last 4 QUESTIONS in PART B deal with Simple Interest/Breakeven Open Book: Use ANY Formula's, notes, examples, and your calculators!! s...

Q:

A trucking company is delivering 10 cases worth $40.00 in total and weighing 5 pounds each. The shipper does not declare a value for the shipment and 1 case is damaged while being delivered. The...

Q:

Dilberts Department Store is trying to determine how many Hanson T-shirts to order. Currently the shirts are sold for $21, but at later dates the shirts will be offered at a 10% discount, then a 20%...

Q:

MJ graduated from U Ottawa five years ago with a bachelor s in commerce and is working as a tax consultant. He feels that an MBA will help him get his dream investment banking job. MJ s current...

Q:

9. Although most economists oppose wage-price controls, some believe that a more fiexible tax-based incomes policy (TIP) could reduce the rate of infiation without disrupting markets. TIP would use a...

Q:

Problems 4453 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. ...

Q:

Problems 4453 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. Find...

Q:

Under the 20172021 labor agreement between Major League Baseball and the players, any team whose payroll exceeded $195 million in 2017 had to pay a competitive balance tax of 50%. The linear function...

Q:

For each of the transactions below, record whether it would result in an increase or decrease in assets, liabilities, and net assets. Provide an answer for assets, liabilities, and net assets for...

Q:

Sort two employees based on their name, department, and age using the Comparator interface.

Q:

Convert totalDays to months, weeks, and days, finding the maximum number of months, then weeks, then days. Ex: If the input is 4 0 , then the output is: Months: 1 Weeks: 1 Days: 3