A Math 110 student decides to make quarterly payments of $2,000 into a retirement account paying...
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A Math 110 student decides to make quarterly payments of $2,000 into a retirement account paying 2% interest per year compounded continuously. If the student continues to make these payments for 30 years, compute each of the following values. Account balance after 30 years (exact value) = Account balance after 30 years (rounded to the nearest cent) Total of all deposits (exact value) Total of all interest payments (rounded to the nearest cent) = dollars = dollars dollars dollars A Math 110 student decides to make quarterly payments of $2,000 into a retirement account paying 2% interest per year compounded continuously. If the student continues to make these payments for 30 years, compute each of the following values. Account balance after 30 years (exact value) = Account balance after 30 years (rounded to the nearest cent) Total of all deposits (exact value) Total of all interest payments (rounded to the nearest cent) = dollars = dollars dollars dollars
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Answer rating: 100% (QA)
P 2000 2000 2 2X for t 30 yeary quarterly for compounding 100 r FV ... View the full answer
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
Posted Date:
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