Question: The answer is 35, I need steps and explanation 2.45 You wish to accumulate $50,000 by semiannual deposits of $800 commenc- ing at time 0

The answer is 35, I need steps and explanation 2.45 You

The answer is 35, I need steps and explanation

2.45 You wish to accumulate $50,000 by semiannual deposits of $800 commenc- ing at time 0 and for as long as necessary. The nominal rate of interest is 6% convertible monthly. Find how many regular deposits are necessary

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!

LR2 70 f $800 commenc of interest is 6% 2.45 You wish to accumulate $50,000 by semiannual deposits of $800 ing at time 0 and for as long as necessary. The nominal rate of interes convertible monthly....

70 CHAPTER 2 2.45 You wish to accumulate $50,000 by semiannual deposits of $800 commenc- ing at time 0 and for as long as necessary. The nominal rate of interest is 6% convertible monthly. Find how...

Exhibit 6.6 shows 10 weeks including weeks 30-34 (the typical 5-week back-to-school time frame of August to the first week in September). As indicated, there is paid advertising support in weeks 29...

Case Analysis 1. Compute the yield to maturity of Land'o'Toys' bonds before the purchase announcement and use it to determine the likely current bond rating. (Compare YTM to the table on p. 269)....

Hello. I'm looking for some help completing my finance project. (10% total course grade) There are quite a few questions. (40 total) I can check the answers one time before submitting. Hoping for...

Please, I need help with the calculations for the following 25 problems in the "final" tab of the workbook before 9pm CST. FINC 340 Quizzes 1 2 Derivatives can be strictly defined as Financial...

Hi. I need Chapter 11 part 1-4 Let me know. Thanks! (it wont letme add more than $8, but I will give $12+ tip) Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK...

I need Chapter 2 & 3 finished. Chapter 4 & 5, Chapter 6 & 7, & Chapter 8. Some of this is completed, but it isn't 100% finished. Let me know if you can get to it. Personal Finance, Fifth Edition by...

Im having trouble with question 3 part A of the attached file. I know and understand her needs but im not sure if im filling out the table correctly ? Assignment Tier 1 Financial Planning...

1 and aj 2. p 10 011 100 1011

The following selected financial information is available for three companies: Required a. Divide the class into three sections and divide each section into groups of three to five students. Assign...

If we invest money for 1 0 years at 8 % interest, compounded semiminus annually , we are really investing money for 2 0 sixminus month periods , during which we receive 4 % interest each period....

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...