1 answer

Suppose a young couple deposits $600 at the end of each quarter in an account that...

Question:

Suppose a young couple deposits $600 at the end of each quarter in an account that earns 7.2%, compounded quarterly, for a period of 4 years. How much is in the account after the 4 years? (Round your answer to the nearest cent.)

After the 4 years, they start a family and find they can contribute only $200 per quarter. If they leave the money from the first 4 years in the account and continue to contribute $200 at the end of each quarter for the next 18 1 2 years, how much will they have in the account (to help with their child's college expenses)? (Round your answer to the nearest cent.) $


Answers

Answer page; 01 initially p= $ 600 per quarter 1.7.20% per quarter => 710/4 = 0.072 = 0.018 :-0.018 na 4x4 = 16 quarters So fpage:02 600 (1.33034-13 10.0721 = 600 (0.33034) 10.072) = 600 ( 0.33034) 10.018) - Goox 18.35222 = Ifol. 33 s -$11,0ll. 33 afpage :03 = 41226,394 = 41226. 39 P = 000 per quositer :- 7.24.14 per quarter no 18.5x4 = 14 quenter S2 = future value for fwi

.

Similar Solved Questions

1 answer
Calculating NPV IRR and the crossover PAGE LAYOUT FORMULAS DATA REVIEW INSERT HOME FILE -1 AA...
Calculating NPV IRR and the crossover PAGE LAYOUT FORMULAS DATA REVIEW INSERT HOME FILE -1 AA 6 Conditional Formatas Cell Formatting Table Styles A Alignment Number Paste BIVA apped Font Clipboard AL eBook References Garage, Inc., has identified the following two mutually exclusive projects a. What ...
1 answer
EXAMPLE 3 o Assuming a cost of $3000 for a system that supplies of the hot water demand ( AT 70°F) of 80 gallons a day, oil at $1.80 gal, (E-140,000 Btu/gal) and water heater efficiency of 70%, h...
EXAMPLE 3 o Assuming a cost of $3000 for a system that supplies of the hot water demand ( AT 70°F) of 80 gallons a day, oil at $1.80 gal, (E-140,000 Btu/gal) and water heater efficiency of 70%, how long is the pay back time 94 EXAMPLE 3 o Assuming a cost of $3000 for a system that supplies of t...
4 answers
Statistics and Probability
Ms. Maria Wilson is considering running for mayor of the town of Bear Gulch, Montana. Before completing the petitions, she decides to conduct a survey of voters inBear Gulch. A sample of 400 voters reveals that 300 would support her in the November election. (Round your answers to 3 decimal places.)...
1 answer
Which of the following diseases is a vector-borne disease transmitted by mosquitoes? a. Malaria b. Norwalk...
Which of the following diseases is a vector-borne disease transmitted by mosquitoes? a. Malaria b. Norwalk virus c. Poliovirus d. Rabies...
1 answer
Leena and Susan both produce cupcakes. Leena's opportunity cost of producing cupcakes is lower than Susan's...
Leena and Susan both produce cupcakes. Leena's opportunity cost of producing cupcakes is lower than Susan's opportunity cost of producing cupcakes. Which of the following statements must be true? a. Susan has a comparative advantage in producing cupcakes. b. Leena has a comparative advantage...
1 answer
Question: Please explain briefly your understanding for below; 1: The Risk Management Process 2: Identifying Workplace...
Question: Please explain briefly your understanding for below; 1: The Risk Management Process 2: Identifying Workplace Hazards 3: Controlling Workplace Hazards...
1 answer
Our 1 kg samples of aluminum, copper, and iron are all at 100° C and we...
Our 1 kg samples of aluminum, copper, and iron are all at 100° C and we place each in a separate beaker holding the same amount of water at 20° C. Which beaker of water will have the largest change in temperature? Why? Specific heat of each metal: aluminum: 921.096 J/kg*K copper: 376.812 J/k...
1 answer
How could Blockchain be used by governments ? To operate essential services such as police To...
How could Blockchain be used by governments ? To operate essential services such as police To run their public websites To run elections To register and track land titles For registration of births, deaths and marriages...
1 answer
Please help. I did most of it, I just need the ones that were marked incorrect....
please help. I did most of it, I just need the ones that were marked incorrect. Thanks! Complete Analysis of a Refrigerator Goal Solve for the performance coefficient of a refrigerator using a five-step process the includes: 1. Making a state table. 2. Making a process table. 3. Calculating the tota...
1 answer
Assume that the Poisson distribution applies and that the mean number of hurricanes in a certain...
Assume that the Poisson distribution applies and that the mean number of hurricanes in a certain area is 7.67.6 per year. a. Find the probability​ that, in a​ year, there will be 66 hurricanes. b. In a 3535​-year period, how many years are expected to have 66 hurricanes? c. How doe...
1 answer
Let P(z) be a polynomial of degree n 2 1. Then CA. P(z) is analytic and...
Let P(z) be a polynomial of degree n 2 1. Then CA. P(z) is analytic and bounded on C B. P(z) is not analytic but bounded on C C. P(z) is analytic and unbounded on C D. P(2) is bot analytic and unbounded on C...
1 answer
You want to make a large pendulum that takes 2 seconds to swing in one direction....
You want to make a large pendulum that takes 2 seconds to swing in one direction. A.) Calculate the length of the string required to build this pendulum....
1 answer
Write a professional speech analysis on I have a dream
write a professional speech analysis on I have a dream...
1 answer
2 Let 0 be an angle in quadrant 11 such that cos θ Find the exact...
2 Let 0 be an angle in quadrant 11 such that cos θ Find the exact values of csc θ and cot θ....
1 answer
High-Low Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio...
High-Low Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that foll...
1 answer
Ze COOH 2. (36 pts, 4 pts each) Draw a structure for the following compounds: a....
ze COOH 2. (36 pts, 4 pts each) Draw a structure for the following compounds: a. 2-amino-2-methylbutanol b. 4-hexynol...
1 answer
A client with hyponatremia accompanied by a fluid volume deficit is being treated with IV NORMAL...
a client with hyponatremia accompanied by a fluid volume deficit is being treated with IV NORMAL SOLUTION. Which serum sodium laboratory finding indicates to the nurse that the treatment has been effective?...
1 answer
Physics
You and your friend Peter are putting new shingles on the roof pitched at 25 degrees. You're siting on the very top of the roof when Peter, who is at the edge of theroof directly below you, 5.0m away, asks you for the box of nails. Rather than carry the 2.5kg box of nails down to Peter, you deci...