A company estimates that it will need $52,600 in 9 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 2.5% compounded​ monthly, how much should each payment​ be?

Q: My dream is to have $1,000,000 so I can finally afford a down payment for a house. How much money…

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Q: As part of your retirement planning, you purchase an annuity that pays 5.25 % annual  interest…

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Q: A company plans to purchase a large piece of machinery with $2401 semi-annual payments for 23…

A: Given:- Semi-annual payment of machinery =$2401             semi-annual payments for time =23 months…

Q: A sailboat costs $19,286. You pay 25% down and amortize the rest with equal monthly payments over a…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Someone decides to invest $13,000 in a money market fund that guarantees a 6.3% annual interest rate…

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Q: 4) Jorge takes out a $185,000 mortgage loan to buy his first home. The mortgage has a 4.5% interest…

A: We will find the monthly payment and intrest amount after 30 years as shown below

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: Clearlake optical has a $50000 note due in 3 years. The owners wish to create a sinking fund to pay…

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Q: A metallurgist purchases car for total cost including tax and license of $37,695.66. If the…

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Q: Tara wishes to accumulate $27,000 in 5 years. Use the appropriate formula to find the sinking fund…

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Q: Determine if the following situation is an investment or a loan.   If the following is an…

A: Given that Eve has decided to deposit $250 at the end of each month into an annuity with a 3.25%…

Q: Kristy Joe deposits ​$110 each month in an ordinary annuity to save for a new car. If the annuity…

A: It is given that the Cash deposit per period is P = $110.Monthly interest rate is i = 1.03%. Time…

Q: A company plans to purchase a large piece of machinery with $5385 semi-annual payments for 41…

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Q: minimum

A: The mortgage formula is given by: M=P.r1+rn1+rn-1, where it is given that P=$175,000, r=0.04512 and…

Q: Given the following function find the key features and sketch the graph. Please make sure graph and…

A: Here we find the root of the dominator. Then calculate the other parts.

Q: 2. To save for college, parents invest $12,000 for their newborn child in a mutual fund that should…

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Q: Suppose you obtain a $5000 Treasury Note with a 3% annual rate, paid quarterly, with a maturity in 2…

A: See the attachment

Q: Rachel wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 2.4%…

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Q: A personal account earmarked as a retirement supplement contains $292,200. Suppose $250,000 is used…

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Q: A personal account earmarked as a retirement supplement contains $292,100. Suppose $250,000 is used…

A: Introduction: The formula of the present value is given by, P=PMT1-11+rnr Where P is the present…

Q: Tara wishes to accumulate $29,000 in 5 years. Use the appropriate formula to find the sinking fund…

A: step:-1 Formula For future value payment is Future value (F)= P×(1+R)t-1R; Here, P=Payment value, R=…

Q: What sinking fund payment would you need to make at the END of each three months, at 6% interest…

A: What sinking fund payment would you need to make at the END of each three months, at 6% interest…

Q: Tara wishes to accumulate $29,000 in 3 years. Use the appropriate formula to find the sinking fund…

A: Given: Future value = FV = $29000 r = rate per period = 8%  =  8/2 = 4%      n = number of periods =…