If $2000 is deposited at the end of each half year in an account that earns 6.4% compounded semiannually, after how many half years will the account contain $130,000? (Round your answer UP to the nearest half year.)
If $2000 is deposited at the end of each half year in an account that earns 6.4% compounded semiannually, after how many half years will the account contain $130,000? (Round your answer UP to the nearest half year.)
Related questions
1) Sara Smith plans to have $50 withheld from her monthly paycheckand deposited in a savings account that earns 12% annually,compounded monthly. If Malone continues with her plan for one andone-half years, how much will be accumulated in the account on thedate of the last deposit? (Use TableB.4) (Round "FV factor"to 4 decimal places andfinal answer to 2 decimal places. Omit the "$" sign in yourresponse.) |
Amount in the account?
2) On January 1, 2011, a company agrees to pay $21,000 in fiveyears. If the annual interest rate is 3%, determine how much cashthe company can borrow with this agreement. (Use Table B.1)(Round "PV factor" to 4 decimal places and final answer to thenearest dollar amount. Omit the "$" sign in yourresponse.)
3) John Smith finances a new automobile by paying $5,800 cash andagreeing to make 20 monthly payments of $570 each, the firstpayment to be made one month after the purchase. The loan bearsinterest at an annual rate of 12%. What is the cost of theautomobile? (Use Table B.3)(Do not round intermediate calculations. Round "PV Factor" to 4decimal places and final answer to 2 decimal places. Omit the "$"sign in your response.)
