Question: i need help with this problem. (4 points) Sally has a sum of $18000 that she invests at 5% compounded monthly. What equal monthly payments

i need help with this problem.

(4 points) Sally has a sum of $18000 that she invests at 5% compounded monthly. What equal monthly payments can she receive over a period of a) 5 years? Answer = $ b) 8 years? Answer = $

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 Finance Questions!

(4 points) Sally has a sum of $18000 that she invests at 9% compounded monthly. What equal monthly payments can she receive over a period of a) 8 years? Answer = $ b) 7 years? Answer = $ (4 points)...

433.21 433.21 incorrect At least one of the answers above is NOT correct. (4 points) Sally has a sum of $16000 that she invests at 12% compounded monthly. What equal monthly payments can she receive...

(4 points) Sally has a sum of $23000 that she invests at 10% compounded monthly. What equal monthly payments can she receive over a period of a) 5 years? Answer = $ b) 18 years? Answer = $

(4 points) Sally has a sum of $28000 that she invests at 4% compounded monthly. What equal monthly payments can she receive over a period a) 8 years? Answer = $ b) 20 years? Answer = $

PLEASE HELP ME WITH ALL OF THESE ILL greatley appreicate. 1) $4000 deposited at 12% interest compounded monthly will grow to $43.57022 in 20 years. What is 1) the I, n, P, and F for this situation?...

Summary of Key Formulas A copy of this summary of Key Formulas will be attached to exams. On assignments and exams show all your work. This allows the marker to assess partial marks. Show the...

1. The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent. P=2000.00 A=2042.50 t=3 months 2. A...

Please help me answer the following, Only the odd numbered problems 1,3,5,7,9. I really need help right now, Shortcut answers is okay as long as the process are still clear, and accurate answers...

HW20: Problem 2 Previous Problem Problem List Next Problem (1 point) Sally has a sum of $27000 that she invests at 5% compounded monthly. What equal monthly payments can she receive over a period of...

HW20: Problem 6 Previous Problem Problem List Next Problem (1 point) Sally has a sum of $27000 that she invests at 10% compounded monthly. What equal monthly payments can she receive over a period of...

Classify each of these as a scalar or vector. (a) 3B; (b) C: B; (c) C B; (d) B; (e) Velocity; (f) Potential energy.

A table is used to position vials under a dispenser head, as shown in Figure DP8.3(a). The objective is speed, accuracy, and smooth motion in order to eliminate spilling. The position control system...

According to Rule 5 0 1 . 8 2 , the definition of a "false, fraudulent, misleading or deceptive statement or claim" includes, but is not limited to , a statement or claim which contains a...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...