A bank account pays 3% interest with monthly com- pounding. A series of deposits started with a deposit of $5000 on January 1, 2007. Deposits in the series were to occur each 6 months. Each deposit in the series is for $150 less than the one before it. The last deposit in the series will be due on July 1, 2021. What is the future worth of the account on July 1,

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: How does the credit card company calculate the interest payment?

A: The credit card has been an important tool to increase the purchasing power. This facility has…

Q: Why would someone choose a fixed rate loan over a variable rate loan?

A: In the field of economics, a loan is defined as the act of lending money or resources by one party…

Q: describe something you can do to increase your savings for retirement.

A: Retirement: It is the point of time where someone stops working.

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: The advantage of a loan is that: its transaction costs are low. it can be tailored to the needs of…

A: Loan: A loan is a sum of money borrowed from a lender with the agreement that it will be repaid,…

Q: What is Retirement Savings in Canada and what is its importance?

A: Retirement savings in Canada refers to the money that individuals set aside during their working…

Q: Luis and his best friend Faith want to spend as much time as possible at the local amusement park…

A: The objective of the question is to find out how much Faith will owe Luis after they buy season…

Q: Discuss credit card safety and precautions?

A: A credit card is a plastic card issued by a financial institution, typically a bank, that allows the…

Q: How Do You Manage Your Credit Card Debt?

A: Credit cards have become a everyday part of our lives and is convenient to use. It is often, that we…

Q: What are other ways to invest in Real estate? Are they long term or short term?

A: Real estate refers to land and any physical property or structures that are permanently attached to…

Q: What are the different ways in which personal property can be obtained?

A: Personal property is a type of property that consists of any property except real estate. It's also…

Q: How would present a loss and or an expense or damage claim?

A: Development contracts will by and large accommodate the contractor to guarantee direct loss and…

Q: The costs of owning and operating an asset can be divided into two categories. What are they?

A: According to cost theory, there are two different types of cost associated with any economic…

Q: What does the interest rate you determine represent?

A: The interest is a specific percentage of the principal amount that is lent, borrowed, or deposited…

Q: Do the credit card interest rates vary with creditworthiness? how?

A: Yes, the credit card interest rates vary with creditworthiness.  To set the interest rate on the…

Q: What is the Deferred Savings Plan?

A: A  deferred savings plan is a plan  which allows the taxpayer to pay money in  the plan and  then…

Q: The disadvantages of using letters of credit for payment

A: A letter of credit is a written promise from a bank or other financial institution that a seller…