Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. calculus
  3. you would like to have 3500 in 3 years for a speci

You would like to have 3500 in 3 years for a special vacation following graduation...

50.1K

Verified Solution

Question

Calculus

image

You would like to have 3500 in 3 years for a special vacation following graduation by making deposits at the end of every six months in an annuity that pays 4 compounded semiannually Answer parts a and b i Click the icon to view some finance formulas a How much should you deposit at the end of every six months In order to have 3500 in 3 years you should deposit s at the end of every six months Do not round until the final answer Then round up to the nearest dollar b How much of the 3500 comes from deposits and how much comes from earnings S of the 3500 comes from your deposits and comes from interest Use the answer from part a to find this answer Round to the nearest dollar as needed More info In the provided formulas P is the deposit made at the end of each compounding period for an annuity that pays an annual interest rate r in decimal form compounded n times per year and A is the value of the annuity after t years A 9 r nt auon by mar 1 P A rnt A

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

Physics
1.2K views

In the circuit shown determine the equivalent resistance total current and power in each resistor...

Geometry
1.2K views

X 9 8 7 6 2x y 6k 9 2AD1ST64321 10 10 8 7 0...

Statistics
1.2K views

Which of the following statements about Z score is NOT true The absolute value of...

Calculus
1.2K views

Find dy by implicit differentiation II y cos x 5x 2y

Accounting
1.2K views

Calculating Ratios and Estimating Credit Rating The following data...

Accounting
1.2K views

Which of the following combinations of direct-material variances might prompt management to undertake a detailed...

Accounting
1.2K views

Minden Company introduced a new product last year for which it is trying to find...

Accounting
1.2K views

Required information The foowing information applies to the questions displayed beiow.) As of December 31,...

Accounting
1.2K views

Please highlight the answer. Tax HW

Accounting
1.2K views

Exercise 2. (15 Points). Holliday, Inc., operates a retail store with two departments,...

Accounting
1.2K views

B had earned income of $70,000 in 2022 and $90,000 in 2023. At the end...

Accounting
1.2K views

When assessing goodwill for impairment, the Codification states that the fair value of goodwill cannot...