Calculate the accumulated amount of end-of-month payments of $500 made for 3 years into an investment fund

Fantastic news! We've Found the answer you've been seeking!

Question:

Calculate the accumulated amount of end-of-month payments of $500 made for 3 years into an investment fund that earns 5.75% compounded quarterly.

Related Book For answer-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Posted Date: Mar 26, 2024 03:54 AM

See More Questions

Melissa deposited $55,000 in an investment fund that was growing at a rate of 3.50% compounded quarterly, for a period of 3 years and 6 months. a. What is the accumulated value of the investment at...
How much money must be invested today if you are able to withdraw $580 payments at the end of each year for 9 years? The nominal rate of interest is 2.2% compounded monthly? QUESTION: You deposit...
1) What is the accumulated value of periodic deposits of $4,000 made into an investment fund at the beginning of every quarter, for 6 years, if the interest rate is 2.50% compounded quarterly? 2)...
Define change management and its significance in organizations. Discuss the challenges faced during the process of organizational change and strategies to overcome resistance.
Determine the matrix representation of each of the following composite transformations. (a) A yaw of 90, followed by a pitch of 90 (b) A pitch of 90, followed by a yaw of 90J (c) A pitch of 45,...
How does calculating depreciation using the IRS tables, such as Table 5-6, differ from calculating depreciation using declining balance method used Example 5-3? In Table 5-6 Year 1 234 5 6 7 8 9 10...
By using six factor formula for $k$, derive the Eqs. (7.93), (7.94) of Section 7.7.1. dkoo dp= k MB dM dB 8 + (7.93) 1+M B M B2
This problem continues the Draper Consulting, Inc., situation from Problem 2-62 of Chapter 2. Start from the trial balance and the posted T-accounts that Draper Consulting, Inc., prepared at December...
II. The Table below gives an individual's MUx and MUy schedule. Suppose X and Y are the only two commodities available and Px = P2 while Py = P1. The individual's income is P12 and is all spent. Q...
A sample of water (200 mi.) was titrated by 0.05 M H2504, The titration completed when the color changed from pink to color less at consuming 1.25 ml of the Pacid? Calculate the phenolphthalein...
Enel was one of the largest power utilities companies in the world, with 80 billion in revenues for 2019. Its gross operating margin of 17.7 billion was generated from renewables (43 per cent),...
Under which conditions does being a first mover give sustainable competitive advantage?
According to the quantity theory of money, which variable in the quantity equation is most stable over long periods of time? a. money b. velocity c. price level d. output
What are the most frequent sources of failure in M&As?
What are the tools used by governments to promote foreign investments?
Alice and Joe are going to form a business entity. Alice will contribute cash of $200,000 for a 40% ownership interest and Joe will contribute land worth $300,000 (basis of $180,000) for a 60%...
For each equation, (a) Write it in slope-intercept form (b) Give the slope of the line (c) Give the y-intercept (d) Graph the line. 7x - 3y = 3
If the carrying value of a fixed asset is USD 2,500, and its value in use is USD 2,200, which of the following is false? (Note: value-inuse is greater than its fair value less cost to sell) a. USD...
Which component is not present on the balance sheet? a. Net realisable value b. Allowance for credit losses c. Cumulative impairment d. Provision accounts
GRE Tire Corporation tests its machine for impairment at the end of the financial year 2023. The carrying value of the machine is USD 3,000. The firm estimates its value in use to be USD 2,800 and...

Calculate the accumulated amount of end-of-month payments of $500 made for 3 years into an investment fund

Question:

Expert Answer:

To calculate the accumulated amount of endofmonth payments made into an investment fund we can use t... View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these finance questions