1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lunna [17]
3 years ago
5

the amount of each payment to be made into a sinking fund which earns 9​% compounded quarterly and produces ​$43 comma 000 at th

e end of 3.5 years. Payments are made at the end of each period.
Mathematics
1 answer:
Blizzard [7]3 years ago
6 0

Answer:

$2647.18

Step-by-step explanation:

Data provided in the question:

Rate = 9% compounded quarterly

interest rate per period, i = 9% ÷ 4 = 2.25% = 0.0225

Future value = $43,000

Time = 3.5 years

Number of periods,  = 3.5 × 4 = 14

Now,

Let the annual payments be 'A'

Thus,

Future value = A × [ (1 + i)ⁿ - 1 ) ÷ i ]

or

$43,000 = A × [ (1 + 0.0225)¹⁴ - 1 ) ÷ 0.0225 ]

or

$43,000 = A × 16.244

or

A = $2647.18

You might be interested in
I Need the answer for these 3
11111nata11111 [884]

Here you go enjoy

Have a good rest of your night

5 0
2 years ago
Yolanda purchased a prepaid phone card for $25 . Long distance calls cost 23 cents a minute using this card. Yolanda used her ca
Fynjy0 [20]
For 12 minutes because 23 x 12 is 2.76 and 25 minus 22.24 is 2.76
3 0
3 years ago
An aircraft is approaching the runway to land The aircraft is at a height of h= 314 meters from the runway. The angle of
Shtirlitz [24]

Answer:

easy peasy

Step-by-step explanation:

u see,

the height of the airplane from the ground is 314m

but with the tower's horizontal plane, it would be

=> altitude of aircraft - height of tower

=> 314 - 70 = 244 m

now in the ABC,

using the ratio of sine,

sin 16 = AB/AC

=> 0.275 = 244/AC

=> AC = 244/ 0.275

=> AC = 887.9...

=> AC = approx. 886 meters

4 0
3 years ago
Estimate the product of 38*249
AnnZ [28]
The correct answer is 10,000
5 0
3 years ago
Read 2 more answers
Help me please with 1-8
lora16 [44]
⇄≈≈∫ω∛³⊥°⇅≈⇅⇅⇒×∧∞∫∠Ф∪⊃∩Ф°∞⇅∑∪∴⊂⊂⇆⇆∧↔↔¬∅⊕⊄∅⊥㏑Ф∛↑↑∨⇆°
8 0
3 years ago
Other questions:
  • What is the unit rate of 100mile/4gallons
    9·1 answer
  • If 80 percent is 72 marks what is full marks
    11·1 answer
  • Complete the sentence 0.04 is 1/10 0f
    14·2 answers
  • Ms Graves gave her class 12 min to read. Carrie reads 5 1/2 pages in that time. At what rate, in pages per hour, did Carrie read
    6·1 answer
  • To solve 5/7 - 2/n = 1/21
    5·1 answer
  • Find M Please help!!!! Last question worth 10 points!
    5·1 answer
  • If my girl say she wants 11 inches but i only have 2 how many more inches do i need
    14·2 answers
  • 100 % if my grade and giving brainliest if answered correctly please helppp im failing
    9·1 answer
  • Help me now now plz I’m trying to passssss
    10·1 answer
  • Express 7. 66 repeating as a ratio of two integers.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!