Finite Mathematics
7th Edition
ISBN: 9781337280426
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
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Textbook Question
Chapter 2.3, Problem 6E
In Exercises 1–6, find the amount accumulated in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits.) [hinT: See Quick Example 1 and Example 1.]
$150 deposited monthly for 20 years at 3% per year in an account containing $10,000 at the start
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In Exercises 1–6, give the values of i and n under the given conditions.
3% interest compounded monthly for 2 years
3. 2.2% interest compounded semiannually for 20 years
Compute the simple interest INT for the specified length of time and the future value FV at the end of that time. Round all answers to the nearest cent. HINT [See Quick Examples 1–5.]
$17,800 is invested for 6 months at 6% per year.
INT
=
$
FV
=
$
- 13,401.31
%3D
Five: $600 deposited yearly in an annuity account that pays 12% per year and compounds once yearly.
How much will be in the account at the end of 50 years? (it's much more than $30,000)
Chapter 2 Solutions
Finite Mathematics
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Prob. 11RECh. 2 - Prob. 12RECh. 2 - Prob. 13RECh. 2 - Prob. 14RECh. 2 - Prob. 15RECh. 2 - Prob. 16RECh. 2 - Prob. 17RECh. 2 - Prob. 18RECh. 2 - Prob. 19RECh. 2 - Prob. 20RECh. 2 - Prob. 21RECh. 2 - Prob. 22RECh. 2 - Prob. 23RECh. 2 - Prob. 24RECh. 2 - Prob. 25RECh. 2 - Prob. 26RECh. 2 - Prob. 27RECh. 2 - Prob. 28RECh. 2 - Prob. 29RECh. 2 - Prob. 30RECh. 2 - Prob. 31RECh. 2 - Stock Investments Exercises 2934 are based on the...Ch. 2 - Prob. 33RECh. 2 - Prob. 34RECh. 2 - Revenue Total online revenues at OHaganBooks.com...Ch. 2 - Net Income Unfortunately, the picture for net...Ch. 2 - Prob. 37RECh. 2 - Prob. 38RECh. 2 - Loans OHaganBooks.com is seeking a $250,000 loan...Ch. 2 - Prob. 40RECh. 2 - Prob. 41RECh. 2 - Prob. 42RECh. 2 - Prob. 43RECh. 2 - Prob. 44RECh. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Prob. 46RECh. 2 - Prob. 47RECh. 2 - Prob. 48RECh. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Prob. 51RECh. 2 - 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