Amanda invested the profit of her business in an investment fund that was earning 3.25% compounded monthly. She began withdrawing $3,500 from this fund every 6 months, with the first withdrawal in 4 years. If the money in the fund lasted for the next 7 years, how much money did she initially invest in the fund? $ Round to the nearest cent X

Q: 4. Kelly deposited $10,500 into a fund at the beginning of every quarter for 13 years. He then…

A: Compound Interest is method of computing interest where compounding is done. Compounding refers to…

Q: Brianna invested the profit of his business in an investment fund that was earning 3.75% compounded…

A: Present value refers to an amount that is being invested initially in the investment for a definite…

Q: Laurence contributed $4,135 at the end of every 6 months to an RRSP fund earning 7.11% compounded…

A: The objective of the question is to calculate the future value of Laurence's RRSP fund, the amount…

Q: Emile has deposited $100 at the start of each month to a savings fund for the last 3 ½ years. If the…

A: Monthly deposit = $ 100 Period = 3.50 Years = 3.5*12 = 42 Months Interest rate = 8% Quarterly…

Q: Two payments of $12,000 and $3,500 are due in 1 year and 2 years, respectively. Calculate the two…

A: 1.The size of the two equal payments is $8,629.28  2.t = 3.62 years  3.r = 8.76%Explanation:Step…

Q: Steven invested the profit of his business in an investment fund that was earning 3.50% compounded…

A: Present value refers to an amount that is being invested initially in the investment for a definite…

Q: Sarah deposited $26,500 into a fund at the beginning of every quarter for 16 years. He then stopped…

A: Compound interest= p*(1+r%/n)^tn A.)  Around $358903 stacked up at the end of 16th year.

Q: Assume that your uncle starts an account for you in a mutual fund with an initial deposit of $790…

A: A mutual fund is a pool of funds collected from various investors and invested into various…

Q: The annual effective interest rate is 6%. Determine X.

A: To determine the value of X, we need to calculate the future value of the monthly deposits made by…

Q: Morgan opened an RRSP account and deposited $2,800.00 into it. She then deposited $900.00 at the end…

A: Deposit at year-0 = $ 2800 Deposit at year-1 = $ 900 Deposit at year-2 = $ 575 Interest rate = 2.20%…

Q: Shane invested $11,000 in a fund earning 5.5% compounded monthly. He will withdraw $800 from the…

A: Given, Shane invested $11000 in a fund earning 5.5% compounded monthly at the end of first 4 years…

Q: Tara wishes to accumulate $25,000 in 3 years. use the appropriate formula to find the sinking fund…

A: Sinking Fund  A sinking fund is a specific kind of fund that is established with the intention of…

Q: Michelle Payne deposited $24,000 in a savings account paying 6.25% simple interest. How long (in…

A: Formula: FV=PV×1+rt

Q: Laura invested $90 at the end of every month into an RRSP for 13 years. If the RRSP was growing at…

A: Kimberly's InvestmentGiven information:Kimberly wants to receive $4,750 at the end of every 6 months…

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: rdan deposited $23,500 into a fund at the beginning of every quarter for 20 years. He then stopped…

A: Future value is the amount being deposited over the period and the amount of interest accumulated…

Q: Juliana invested $5000 in a fund at the beginning of every three months for five years. The fund was…

A: Future value refers to the current value of the investment at some future date affected by interest…

Q: What is his dollar-weighted average return? Time 0 1 2 3 4 A) 1.5 percent B) 2.2 percent C) 2.0…

A: The dollar-weighted average return takes into account the timing and amount of cash flows to…

Q: In 1988, your Grandmother left you a trust fund with $10,000 in the account that has been earning 8%…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: Your friend, Kitty Kardashian, of Hidden Hills, CA, bought $5,000 worth of mutual funds with a…

A: Redemption fee = worth of mutual fund x redemption fee%

Q: Miguel deposited $11,500 into a fund at the beginning of every quarter for 15 years. He then stopped…

A: The objective of the question is to calculate the accumulated value of the fund at the end of…