The amount needed in the account when Frost retires is given by the annuity formula. Compounding is 2 times per year.
.. A = Pi/(n(1 -(1 +r/n)^(-nt)))
.. 17900 = P*.08/(2*(1 -(1 +.08/2)^(-2*12)))
.. 17900 = P*.04/(1 -(1.04^-24))
.. P ≈ 272,920.64
The compound interest formula can be used to find the present value required. 4015 days is 11 years (ignoring leap years), so the amount to deposit can be calculated from
.. A = P*(1 +r/n)^(nt)
.. 272,920.64 = P*(1 +.08/2)^(2*11) = P*1.04^22
.. P ≈ 115,160.33
We don't know about the company's obligation to Robert. To fulfill its obligation to Frost, it must deposit 115,160.33 today.
Answer:151500
Step-by-step explanation:the is the answer
the answer would be 3 I believe
Answer:
need points sorry 38484343
Step-by-step explanation:
Answer: $13339.25
Step-by-step explanation:
Since 500 shares of Intel were sold for $26.75 per share, the total amount will be:
= 500 × $26.75
= $13375
Since the broker charges a
commission of $2.75 per thousand dollars of stock bought or sold, the amount charged by the broker on $13375 will be:
= $2.75 × 13
= $35.75
The amount that'll then be credited into ones account will be:
= $13375 - $35.75
= $13339.25
