Question: How long will it take for $300 * 4 points deposited at the end of each quarter to amount to $6726.70 at 6% compounded quarterly?

How long will it take for $300 * 4 points deposited at the end of each quarter to amount to $6726.70 at 6% compounded quarterly? Make a choice which formula to use (1) or (2)! 1 [(FV,,><: __ n pmt h _ i hf l2 pv>

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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 Mathematics Questions!

1. If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years? 2. If you deposit $6500 into an account paying 8% annual...

1. To finance a vacation in four years, Bernadette saves $530 at the beginning of every three months in an account paying interest at 3.92% compounded quarterly. a. What will be the balance in her...

14. [-/4 Points] DETAILS HARMATHAP12 1.6.040. Complete the problem by using the accompanying gure, which shows a supply function and a demand function. (Assume price is measured in dollars.) p 40 30...

I need help with these business mathematics questions. I have provided each page number and what questions need answered on each screenshot. Please write the page number and what question the answer...

Exam 1 Business Math Q1. The number 49,842 rounded to the nearest thousand is: a. 50,000 b. 49,000 c. 49,900 d. 49,800 Q2. The number 70624020 should be written: a. 70,624,020.0 b. 7,062,402,0 c....

1. Basic concepts Finance, or financial management, requires the knowledge and precise use of the language of the field. Match the terms relating to the basic terminology and concepts of the time...

Question 1 4 pts What is the accumulated value of deposits of $1120.00 made at the end of every six months for 6 years if Interest is 6.48% compounded quarterly? HTML Editore BIVA -A- TE : T 11 12 O...

3a Time for a Lump Sum to Double How long will it take $200 to double if it is deposited and earns the following rates? Round your answers to the closest year. [ Notes: (1) This problem cannot be...

You are a passenger on a spacecraft. For your survival and comfort, the interior contains air just like that at the surface of the Earth. The craft is coasting through a very empty region of space....

Ponderosa Paint and Glass makes paint at three plants. It then ships the unmarked paint cans to a central warehouse. Plant A supplies 50% of the paint, and past records indicate that the paint is...

Shares of a foreign corporation that are traded domestically and pay dividends and capital gains in the domestic currency are called _ _ _ _ . Question 3 4 options: Euroshares depository receipts...

Cofee shop. provided the following information Selling Price per cup: $5.00 Variable Cost per cup: $1.39 Fixed Costs per month: $43,700 REQUIRED: 1. What is their contribution margin per cup? 2. How...