Business, 21.10.2020 16:01 jenstets05

Matt's parents decide to set up a college fund on his 10th birthday. They would like for the fund to be worth $36,273 on his 18th birthday. The make semi-annual payments into an account earning interest at an annual rate of 4.4%, compounded semi-annually. Find the size of the semi-annual payments required in order for the parents to have saved the desired amount by Matt's 18th birthday. Find the total amount deposited by the parents. As of Matt's 18th birthday, find the total amount of interest earned by the account. Enter the answer to Part c in the box below. Round your answer to the nearest dollar.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 03:00

Compare the sources of consumer credit 1. consumers use a prearranged loan using special checks 2. consumers use cards with no interest and non -revolving balances 3. consumers pay off debt and credit is automatically renewed 4. consumers take out a loan with a repayment date and have a specific purpose a. travel and entertainment credit b. revolving check credit c. closed-end credit d. revolving credit

Answers: 1

Answer

Business, 22.06.2019 06:00

Select the correct answer a research organization conducts certain chemical tests on samples. they have data available on the standard results. some of the samples give results outside the boundary of the standard results. which data mining method follows a similar approach? o a. data cleansing ob. network intrusion o c. fraud detection od. customer classification o e. deviation detection

Answers: 1

Answer

Business, 22.06.2019 08:30

Match the items with the actions necessary to reconcile the bank statement.(there's not just one answer)1. interest credited in bank account2. fee charged by bank for returned check3. checks issued but not deposited4. deposits yet to be crediteda. add to bank statementb. deduct from bank statementc. add to personal statementd. deduct from personal statement

Answers: 2

Answer

Business, 22.06.2019 15:20

Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.

Answers: 3

Answer

You know the right answer?

Matt's parents decide to set up a college fund on his 10th birthday. They would like for the fund to...

Questions