you want to establish a savings fund from which a community organization could draw $1,000 a year for 40 years. If the account earns 3 percent, what amount would you have to deposit now to achieve this goal? (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)

you want to establish a savings fund from which a community organization could draw $1,000 a year for 40 years. If the account earns 3 percent, what amount would you have to deposit now to achieve this goal? (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

David posted $1500 in a savings account and an annual interest rate of 3% compound monthly. At the same time Jana deposited $1400 in a savings account at an annual rate of 4% compounded monthly. After how many months will the balance and Jana‘s savings account first be greater than the balance in David’s savings account? A. 8 B. 12 C. 60 D. 84
Please solve this within half hour I'll give you multiple upvotes
D Question 3 Last month, Kaitlin's average daily balance on her credit card was $1,268.52. The annual interest rate on that credit card is 15.1%. The minimum payment on that card is the interest charge ( r 1= B- n) plus 2% of the ending balance or $25, which ever is larger. If there were 31 days in 365 that month and the ending balance was $1,945.13, what would be the minimum payment that Kaitlin could make? 3 pts Round your answer to the nearest penny. Input the number. Do not input the dollar sign. Do not use a comma. Example: 89.65 Question 4 3 pts Last month, Kaitlin's average daily balance on her credit card was $1,813.55. The annual interest rate on that credit card is 17.25%. The minimum payment on that card is the interest charge ( 1 = B. n) plus 1% of the ending balance or $25, which ever is larger. If there were 30 days in 365 that month and the ending balance was $2,907.68, what would be the balance on her credit card after she made that payment for that month? Round your…
Solve questions 14-16
Please help: A savings plan James begins a savings plan in which he deposits $100 at the beginning of each month into an account that earns 9% interest annually or, equivalently, 0.75% per month. To be clear, on the first day of each month, the bank adds 0.75% of the current balance as interest, and then James deposits $100. Let Bn be the balance in the account after the nth payment, where Bn = $0. Write the first five terms of the sequence {Bn}. Find a recurrence relation that generates the sequence {Bn}. How many months are needed to reach a balance of $5000?
If the option will cost the investor an additional $10,000, should the investor purchase the option?
Help me solve this question please.
Question 23 During a month's time, an automobile salesperson receives a 6% commission on the first $5000 in sales, a 7% commission on the next $5000 sales, 8% commission on anything over $10,000. What is her commission for $36000 in sales?
Section 2.3 #23: Paul has $20,000 to invest. He invests part of his money 8% and part at 12%. How much should he put in each account to earn a total of 11% on his investment?
Question 5 Mrs. Parkes borrowed $6000 from her friends and family and was paying them back at a rate of $500 per month. [Hint: Lesson 2.2] Select all the expressions below that represent how much Mrs. Parkes owes after paying her family members for 3 months. a) -6000+500 +500 +500 b) -6000-500-500-500 c) -6000-3(500) d) -6000+ 3(500)
Question 29 All Lacoste items are on sale at 15% discount. If a dress costs P7500 with a delivery fee of P150, how much will the customer pay for the dress if she wants it to be delivered? A P6502.50 P6375 P6525 D P6475