Question: part 1 amd 2 You would like to have $5,000 in 4 years for a special vacation following graduation by making deposits at the end

part 1 amd 2 You would like to have $5,000 in

part 1 amd 2

You would like to have $5,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 6% compounded semiannually. Use one of the formulas below to determine how much you should deposit at the end of every six months. a. nt P 1+ -1 A 3 A= P= nt r + -1 n b. How much of the $5,000 comes from deposits and how much comes from interest? a. In order to have $5,000 in 4 years, you should deposit $ at the end of every six months. (Do not round until the final answer. Then round up to the nearest dollar.)

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!

An aircraft engine is fitted with a single-sided centrifugal compressor. The aircraft flies with a speed of 230 m/s at an altitude where the pressure is 0.23 bar and temperature 217 K. The intake...

You would like to have 3 500 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 6 5 compounded semiannually a Use one of...

This Question: 8 pts 7 of 31 (11 complete) You would like to have $4.000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that...

Can someone help me with these problems? You would like to have $4,500 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays...

You would like to have $3,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 6.5% compounded semiannually. Determine...

You would like to have $3,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 3.5% compounded semiannually. Determine...

a You would like to have $3,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 4.5% compounded semiannually....

You would like to have $4,000 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 6% compounded semiannually a. Use one of...

NEED HELP ASAP!!! 8.5 Q8 part b. how much of the $4000 comes from deposits and how much comes from interest? You would like to have $4,000 in 4 years for a special vacation following graduation by...

You would like to have $2500 in 4 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 8% compounded semiannually. Answer parts...

you would like to have $4000 in 4 years for a special vacation following graduation by making deposits at the end of every 6 months in an annuity that pays 7% compounded semiannually A) how much...

Find the domain of the function f(x) = /3-4x O (-00, 4/3] O (-00, 3/4] O [3/4, ) O (-00, 3/4)

Renting a kayak costs $10 per hour; renting a canoe costs $5 per hour plus a $7 fee. Write an equation to determine h, the number of hours for which they each cost the same.

An interbank transfer schedule: Multiple Choice is used to examine entity bank reconciliations. is on a standard bank confirmation. is another name for the proof of cash. helps the auditor test for...

A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments. January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 Cash...