Question

In: Statistics and Probability

A fund of 3000$ is to be accumulated by n annual payments of 65 at the...

A fund of 3000$ is to be accumulated by n annual payments of 65 at the end of each year, followed by n annual payments of 135 at the end of each year, followed by a final payment of 17.94 at the end of the next year. If the effective rate of interest is 6% per year, find n.

Solutions

Expert Solution


Related Solutions

Investment A will make N annual payments of $500 with the first of the N payments due immediately.
  6. Investment A will make N annual payments of $500 with the first of the N payments due immediately. Investment A has a value of $20,000. Investment B is an ordinary annuity that will make (N minus 1) annual payments of $500 with the first payment due in one year from today. If investment A and investment B have the same expected return, then what is the value of investment B?     $20,500     The value of...
A demand loan of $6000 is repaid by payments of $3000 after two years, $3000 after...
A demand loan of $6000 is repaid by payments of $3000 after two years, $3000 after four years, and a final payment after seven years. Interest is 8% compounded quarterly for the first two years, 9% compounded semi-annually for the next two years, and 9% compounded quarterly thereafter. What is the size of the final payment?
Please type SAS code for questions below Age < 65 N = Age ≥ 65 N...
Please type SAS code for questions below Age < 65 N = Age ≥ 65 N = Total N = Sex      Male      Female Region      Northeast      Midwest      South      West Race      White      Black      Asian      All other race groups
You buy a car with a down payment of $3000 and payments of $600 per month...
You buy a car with a down payment of $3000 and payments of $600 per month for 3 years. If the interest rate is 3.6% compounded monthly, what is the total cost of the car?
Compound annuity​) What is the accumulated sum of each of the following streams of​ payments? a....
Compound annuity​) What is the accumulated sum of each of the following streams of​ payments? a. ​$ 520 year for 9 years compounded annually at 11percent. b. ​$ 108 year for 6 years compounded annually at 9 percent. c. ​$ 33 year for 12 years compounded annually at 13 percent. d. ​$ 24 year for 5 years compounded annually at 4 percent. A. What is the accumulated sum of ​$ 520 year for years compounded annually at 11 ​percent? ​$(Round...
(Compound annuity) What is the accumulated sum of each of the following streams of payments? a....
(Compound annuity) What is the accumulated sum of each of the following streams of payments? a. $520 a year for 10 years compounded annually at 10 percent. b. $112 a year for 8 years compounded annually at 8 percent. c. $34 a year for 13 years compounded annually at 11 percent. d. $28 a year for 4 years compounded annually at 5 percent. a. What is the accumulated sum of $520 a year for 10 years compounded annually at 10...
What is the accumulated sum of each of the following streams of ordinary annuity payments? a....
What is the accumulated sum of each of the following streams of ordinary annuity payments? a. $35 per half-year for three and a half years at 14% p.a. compounded half- yearly. b. $25 a year for three years compounded annually at 2%. c. $500 a year for 10 years compounded annually at 5%
What is the accumulated sum of the following stream of payments? $1,938 every year at the...
What is the accumulated sum of the following stream of payments? $1,938 every year at the end of the year for 8 years at 5.51 percent, compounded annually.
Barbara borrows $3000. She agrees to make monthly interest payments on the loan and will build...
Barbara borrows $3000. She agrees to make monthly interest payments on the loan and will build up a sinking fund with monthly deposits to repay the principal with a single payment 19 months from now. If the interest being charged on the loan is j12 = 8.5% and the interest being earned on the sinking fund is j12= 5.4%, what is the monthly cost of the debt for Barbara?
Nelson has accumulated $168,000 in his retirement account. He is 65 years old and plans to...
Nelson has accumulated $168,000 in his retirement account. He is 65 years old and plans to retire this fall. He's trying to determine how much income he will have to live on during his retirement years. Nelson is a relatively conservative investor and has decided that he wants to keep his retirement funds invested 60 percent in long-term corporate bonds and 40 percent in stocks. He is estimating that he will earn an average annual rate of return of 12...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT