Present Value: How much should be deposited in an account paying 4.9%
interest compounded monthly in order to have a balance of $21,154.03
four years from now?
Mathematics Homework Solutions
#219133
Present Value
Present Value: How much should be deposited in an account paying 4.9% interest compounded monthly in order to have a balance of $21,154.03 four years from now?
The solution gives out steps to calculate how much should be deposited in an account paying 4.9% interest compounded monthly in order to have a balance of $21,154.03 four years from now
What is this?
By OTA - Overall OTA Rating
Gaurav Agarwal, MS - 4.8/5
Purchase Cost Now
$2.19 CAD (was ~$3.99)
Included in Download
- Plain text response
Why you can trust BrainMass.com
- Your Information is Secure
- Best Online Academic Help Service
- Students find real academic Success
- Finance : Interest and Withdrawal Calculation (Please see attached file) - Hal deposited $100 a month in an account paying 9% per annum compounded monthly for 25 years. After 25 years, he stops making deposits. Over the next 35 years, Hal withdraws the same amount of money ...
- Interest - Problem: Bill needs $8000 to buy a new car in five years. How much should be deposited at the end of every quarter into an account that earns 8% interest compounded quarterly? a. $329.25 b. $34 ...
- Exponential and Logarithmic Functions - See Attached. Showing work not required. 1.Suppose $2000 is invested at an annual interest rate of 5%. Compute the balance after 10 years if the interest is compounded monthly.
- Exponential and logarithmic functions - A. Convert to logarithmic equations. For example, the logarithmic form of "23 = 8" is "log2 8 = 3". a) 16 3/2 = 64 b) ex = 5 B. Write the logarithmic equation in exponential form. For exam ...
- Interest - The interest rate offered on a passbook savings account is 3.78% APR compounded continuously. Another account compounds interest monthly. What should the interest rate of the second account be so that ...
