angohar angohar

04-10-2016
Mathematics

contestada

Regis deposits $5000 into an account for his 10-year-old child the bank has an annual interest rate of 8.5%, compounded monthly.

a. What regular monthly deposit amount is needed to make the account worth $1 million by the time the child is 55 years old.

Respuesta :

Аноним Аноним

04-10-2016

$123.99 should be deposited every month to arrive at bank balance of $1,000,000.59 after 539 months of depositing with the initial deposit of $5,000 already earning interest up to 540 months or 12 times each year for 45 years.

Answer Link

Otras preguntas

Write an equation in slope-intercept form for the line that satisfies the following condition. passes through (2, 7), perpendicular to the graph of

Which of the following is the best example of a political conflict? A. war B. climate change C. natural disasters D. pollution Please select the best answer fro

The irregular shape has the dimensions shown. Which kind of expression represents the perimeter? linear expression exponential expression quadratic expression r

Please tell answer fast

Can someone help me solve this question?

The group that formally abolished the monarchy was the (BLANK) . After the monarchy was abolished, the (BLANK) was created. It was led by (BLANK) , who later to

The temperature of a substance is a measure of the *

Which European nation was the most interested in converting the Native Americans to Catholicism? Portugal France England Spain

Which of the following can be describe as a sedentry activity ? A. sitting and watching the television B. outdoor calisthenics C. sprinting on a track D. runnin

Central to the overall character of the Middle East are bazaars where people can go for shopping and entertainment. In which of the following ways do these mark

Q&A Education