Question: PLEASE ANSWER WITH STEP BY STEP SOLUTION Deposits of $114.00 are made at the end of every six months for 2.5 years. What will the

PLEASE ANSWER WITH STEP BY STEP SOLUTION

Deposits of $114.00 are made at the end of every six months for 2.5 years. What will the deposits amount to if interest is 12% compounded semi-annually? The future value is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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!

What are the three product costs for a manufacturing company? Describe each.

PLEASE ANSWER WITH STEP BY STEP SOLUTION Deposits of $114.00 are made at the end of every six months for 2.5 years. What will the deposits amount to if interest is 12% compounded semi-annually? The...

PLEASE ANSWER WITH STEP BY STEP SOLUTION You want to receive $325 at the end of every six months for 2 years. Interest is 4.8% compounded semi-annually. (a) How much would you have to deposit at the...

Part 1: John and Sarah decide to save for retirement with an annuity . John has found an annuity that pays 1.75 % compounded monthly.Provided the couple deposited $250 each month. Answer the...

Attempt Score 24 out of 25 points Time lapsed 30 minutes out of 1 hour Instructions Give an answer to each question, you have any problems please email your section structor To access your Equation...

A)Benedict wants to make 8 payments of $2,250 at the beginning of every six months into his account. What amount will he have at the end of the 4-year timeframe and how much will be interest earned...

PLEASE ANSWER WITH STEP BY STEP SOLUTION A contract can be fulfilled by making an immediate payment of $21,700 or equal payments at the end of every six months for 6 years. What is the size of the...

PLEASE ANSWER WITH STEP BY STEP SOLUTION AND FULL ACCOUNTS USING EXCEL. THANK YOU The bookkeeper for Grace Inc. prepared the following balance sheet at Dec 31, 2023. \begin{tabular}{|c|c|c|c|} \hline...

At the year end, an analysis by the city?s finance department determined the following constraints on resources in the general fund. Prepare the appropriate journal entry in the general fund to...

JUST ANSWER THE FIRST PAGE: ALL INFO ARE ALREADY GIVEN PRESENT VALUE OF SIMPLE ANNUITY DUE EXAMPLE: Hope borrows money for the renovation of her house and repays by making yearly payments of P50,...

What is the difference between legal fees and costs? Why is it important that the distinction be made?

The following data relates to the activities of Shilow Company, a wholesale distributor of consumer goods: Current assets as of 31 March: in advance $ 7,200 Accounts receivable $ 18,800 Inventory $...

Assume for an annuity, the annual interest rate is 8 % , and the total investment time range is 1 0 years, then calculate the future value factor for annuities.

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...