Upon retirement, a worker finds that he has R15 964 to his credit in the company...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Upon retirement, a worker finds that he has R15 964 to his credit in the company retirement fund. He decides to leave the money in the fund which credits interest at 3% compounded semi-annually, and have equal payments made to him or his estate at the end of each 6 months for the 20 years. Find the semi-annual payment Upon retirement, a worker finds that he has R15 964 to his credit in the company retirement fund. He decides to leave the money in the fund which credits interest at 3% compounded semi-annually, and have equal payments made to him or his estate at the end of each 6 months for the 20 years. Find the semi-annual payment
Expert Answer:
Answer rating: 100% (QA)
To calculate the semiannual payment we can use the formula for the present value of an annuity The f... View the full answer
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
Posted Date:
Students also viewed these finance questions
-
Evaluate the article: Boehm, Kunze, F., & Bruch, H. (2014). Spotlight on Age-Diversity Climate: The Impact of Age-Inclusive HR Practices on Firm-Level Outcomes. Personnel Psychology , 67 (3),...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
-
A particular automatic sprinkler system has two different types of activation devices for each sprinkler head. One type has a reliability of 0.9; that is, the probability that it will activate the...
-
If a cylindrical rod of brass 150.00 mm long and 10.000 mm in diameter is heated from 20C to 160C while its ends are maintained rigid, determine its change in diameter. Hint: You may want to consult...
-
What are the fundamental objectives of all information systems?
-
True or False. The time variation of the solution can be found from the phase-plane trajectories.
-
The following information was obtained from the accounts of Airlines International dated December 31, 2010. It is presented in alphabetical order. Accounts payable ............... $ 77,916 Accounts...
-
Make a few paragraphs answering these questions about the movie Failure to launch (Please add detailed reasonings, Use the laws and rules we have covered throughout the semester and the facts in the...
-
Solve the structures in Figures P5-16 through P5-18 by using substructuring. Figure P5-16 (Substructure the truss at nodes 3 and 4) Figure P5-17 (Substructure the beam at node 3) Figure P5-18...
-
Write a C function that takes three arguments: a character and two integers. The character is to be printed. The first integer specifies the number of times that the character is to be printed on a...
-
A binary tree is balanced if both its subtrees are balanced and the height of its two subtrees differ by at most 1. Implement a linear-time method balanced () that returns true if the tree is...
-
Develop a recursive solution to the previous question. Data from in previous question. Write a method \(\max ()\) that takes the first Node in a linked list as its argument and returns the value of...
-
Compute the value returned by mystery () on some sample binary trees and then formulate a hypothesis about its behavior and prove it. public int mystery (Node x) { } if (x==nul1) return 0; return...
-
Design a linear-time algorithm to sort an array of Comparable objects that is known to have at most three distinct values. (Edsger Dijkstra named this the Dutch-national-flag problem because the...
-
Implement the following methods, each of which takes as its argument a Node that is the root of a binary tree. Your methods should all run in linear time. int size() int leaves () double total()...
-
Company A has 500,000 shares outstanding and the share price is $10, 10,000 bonds outstanding and the bonds are trading at 110 and the par value is $1,000, 10,000 preferred shares outstanding and...
-
Refrigerant-134a enters an adiabatic compressor as saturated vapor at 120 kPa at a rate of 0.3 m3/min and exits at 1-MPa pressure. If the isentropic efficiency of the compressor is 80 percent,...
-
Quisco Systems has 7.5 billion shares outstanding and a share price of $18. Quisco is considering developing a new networking product in house at a cost of $500 million. Alternatively, Quisco can...
-
Happy Valley Homecare Suppliers, Inc. (HVHS), had $20 million in sales in 2015. Its cost of goods sold was $8 million, and its average inventory balance was $2 million. a. Calculate the average...
-
Avicorp has a $10 million debt issue outstanding, with a 6% coupon rate. The debt has semiannual coupons, the next coupon is due in six months, and the debt matures in five years. It is currently...
-
If w 0 = 0.5 kip/ft, determine the maximum bending stress in the beam. Wo 12 ft. 12 ft- 8 in. 0.30 in. 0.3 in.- 10 in. 0.30 in.
-
Determine the absolute maximum bending stress in the tubular shaft if d i = 160 mm and d o = 200 mm. A 15 kN/m 60 kNm 3 m 1 m- do
-
The tubular shaft is to have a cross section such that its inner diameter and outer diameter are related by d i = 0.8d o . Determine these required dimensions if the allowable bending stress is ...
Study smarter with the SolutionInn App