Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. the amount of $840 is invested quarterly at 3.9% c

The amount of $840 is invested quarterly at 3.9% compounded semi-annually for 12 years. The...

60.1K

Verified Solution

Question

Basic Math

image

The amount of $840 is invested quarterly at 3.9% compounded semi-annually for 12 years. The balance in the fund is then converted into an annuity. paying $380 at the end of every month. If the interest on the annuity is 2% compounded annually, what is the term of the annuity? Round properly. Answer in MONTHS.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Why is it possible for more than one mechanism to be consistent with the experimentally determined...

Biology
1.2K views

An Outlook data file pst is used for accounts O POP3

Physics
1.2K views

Let's take a current-carrying cable with a gradually narrowing cross-sectional area along the length of...

Physics
1.2K views

A disc of mass M and radius R can rotate freely in a vertical plane...

Basic Math
1.2K views

d b b d Construct a truth table for p q p q p T...

Statistics
1.2K views

What does a z score capture how far are you away from the mean how...

Algebra
1.2K views

Rewrite 4 sin z 2 cos z as Asin x o A Preview Preview Note...

Algebra
1.2K views

Using sigma notation, write the following expression as an infinite series: 1+ 3/4 + 9/16+...

Algebra
1.2K views

Espa Suppose that the dollar value v t of a certain house that is t...

Algebra
1.2K views

8 x 8 7

Accounting
1.2K views

L02, 3, 4 E11-32. Statement of Cash Flows (Indirect Method) Use the following information about...

Accounting
1.2K views

Thomas' family also nuns a soarmet food stoee that sells two main prodsets: Premium Caviar...