Explanation Given information: Twenty annual payments of $ 5000 each, with the first payment one year from now, are to be made from an account earning 2% per year, compounded annually. Calculation: The formula for the future value when interest is calculated annually is given by F V = C ⋅ ( ( 1 + i ) n − 1 i ) Where C is the amount deposit per period r = rate of interest t = time Therefore future value is F V = 5000 × ( 1 + 0.02 ) 20 − 1 0

Applied Calculus, 6e WileyPLUS + Loose-leaf

6th Edition

ISBN: 9781119408901

Author: Deborah Hughes-Hallett, Andrew M. Gleason, Patti Frazer Lock, Daniel E. Flath

Publisher: Wiley (WileyPLUS Products)

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 10.2, Problem 4P

To determine

Calculate the amount must be deposited now to cover the payments.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 10.2, Problem 3P

Chapter 10.2, Problem 5P

Students have asked these similar questions

ex 5. important aspects. Graph f(x)=lnx. Be sure to make your graph big enough to easily read (use the space given.) Label all 6 33

Decide whether each limit exists. If a limit exists, estimate its value. 11. (a) lim f(x) x-3 f(x) ↑ 4 3- 2+ (b) lim f(x) x―0 -2 0 X 1234

Determine whether the lines L₁ (t) = (-2,3, −1)t + (0,2,-3) and L2 p(s) = (2, −3, 1)s + (-10, 17, -8) intersect. If they do, find the point of intersection.

Chapter 10 Solutions

Applied Calculus, 6e WileyPLUS + Loose-leaf

Ch. 10.1 - Prob. 1P Ch. 10.1 - Prob. 2P Ch. 10.1 - Prob. 3P Ch. 10.1 - Prob. 4P Ch. 10.1 - Prob. 5P Ch. 10.1 - Prob. 6P Ch. 10.1 - Prob. 7P Ch. 10.1 - Prob. 8P Ch. 10.1 - Prob. 9P Ch. 10.1 - Prob. 10P

Ch. 10.1 - Prob. 11P Ch. 10.1 - Prob. 12P Ch. 10.1 - Prob. 13P Ch. 10.1 - Prob. 14P Ch. 10.1 - Prob. 15P Ch. 10.1 - Prob. 16P Ch. 10.1 - Prob. 17P Ch. 10.1 - Prob. 18P Ch. 10.1 - Prob. 19P Ch. 10.1 - Prob. 20P Ch. 10.1 - Prob. 21P Ch. 10.1 - Prob. 22P Ch. 10.1 - Prob. 23P Ch. 10.1 - Prob. 24P Ch. 10.1 - Prob. 25P Ch. 10.1 - Prob. 26P Ch. 10.1 - Prob. 27P Ch. 10.1 - Prob. 28P Ch. 10.1 - Prob. 29P Ch. 10.1 - Prob. 30P Ch. 10.2 - Prob. 1P Ch. 10.2 - Prob. 2P Ch. 10.2 - Prob. 3P Ch. 10.2 - Prob. 4P Ch. 10.2 - Prob. 5P Ch. 10.2 - Prob. 6P Ch. 10.2 - Prob. 7P Ch. 10.2 - Prob. 8P Ch. 10.2 - Prob. 9P Ch. 10.2 - Prob. 10P Ch. 10.2 - Prob. 11P Ch. 10.2 - Prob. 12P Ch. 10.2 - Prob. 13P Ch. 10.2 - Prob. 14P Ch. 10.2 - Prob. 15P Ch. 10.2 - Prob. 16P Ch. 10.2 - Prob. 17P Ch. 10.2 - Prob. 18P Ch. 10.2 - Prob. 19P Ch. 10.2 - Prob. 20P Ch. 10.3 - Prob. 1P Ch. 10.3 - Prob. 2P Ch. 10.3 - Prob. 3P Ch. 10.3 - Prob. 4P Ch. 10.3 - Prob. 5P Ch. 10.3 - Prob. 6P Ch. 10.3 - Prob. 7P Ch. 10.3 - Prob. 8P Ch. 10.3 - Prob. 9P Ch. 10.3 - Prob. 10P Ch. 10.3 - Prob. 11P Ch. 10.3 - Prob. 12P Ch. 10.3 - Prob. 13P Ch. 10.3 - Prob. 14P Ch. 10.3 - Prob. 15P Ch. 10.3 - Prob. 16P Ch. 10.3 - Prob. 17P Ch. 10.3 - Prob. 18P Ch. 10.3 - Prob. 19P Ch. 10.3 - Prob. 20P Ch. 10 - Prob. 1SYU Ch. 10 - Prob. 2SYU Ch. 10 - Prob. 3SYU Ch. 10 - Prob. 4SYU Ch. 10 - Prob. 5SYU Ch. 10 - Prob. 6SYU Ch. 10 - Prob. 7SYU Ch. 10 - Prob. 8SYU Ch. 10 - Prob. 9SYU Ch. 10 - Prob. 10SYU Ch. 10 - Prob. 11SYU Ch. 10 - Prob. 12SYU Ch. 10 - Prob. 13SYU Ch. 10 - Prob. 14SYU Ch. 10 - Prob. 15SYU Ch. 10 - Prob. 16SYU Ch. 10 - Prob. 17SYU Ch. 10 - Prob. 18SYU Ch. 10 - Prob. 19SYU Ch. 10 - Prob. 20SYU Ch. 10 - Prob. 21SYU Ch. 10 - Prob. 22SYU Ch. 10 - Prob. 23SYU Ch. 10 - Prob. 24SYU Ch. 10 - Prob. 25SYU Ch. 10 - Prob. 26SYU Ch. 10 - Prob. 27SYU Ch. 10 - Prob. 28SYU Ch. 10 - Prob. 29SYU Ch. 10 - Prob. 30SYU

Knowledge Booster

$Calculus$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.

Calculate the amount must be deposited now to cover the payments.

Solution Summary: The author calculates the amount must be deposited now to cover the payments. Twenty annual payments of 5000 each are to be made from an account earning 2% per year, compounded annually.

Concept explainers

Videos

Calculate the amount must be deposited now to cover the payments.

Want to see the full answer?

Chapter 10 Solutions