How much should be deposited if compounded monthly

Reference no: EM13180073

An individual wishes to deposit an amount of money now and $100 every six months so that at the end of five years $1,500 will have been accumulated. With interest at 3.97% per year, compounded monthly, how much should be deposited now?

Reference no: EM13180073

Questions Cloud

Find the price at the catalog store : Write an equation and solve: Modern Electronics is selling a large screen television for $999. This is $120 more than the price at a catalog store. Find the price at the catalog store.

Did you enjoy the tools and resources used : This is your final post of the term! What did you think of the format of the class? Did you enjoy the tools and resources used? How do you think this class could have been improved?

Reducing wing tip vortices-clockwise flow produce thrust : I'm doing my project on "Reducing wing tip vortices". The vortices are forming in a direction, say anticlockwise which is producing drag. If this direction is reversed (clockwise) then, will this reversed clockwise flow produce thrust?

Analysis of the stock values for both companies : Comparison of 10 year history of stock values for both Apple and Microsoft and aong with graphs for the ten year history, please include an analysis of the stock values for both companies.

How much should be deposited if compounded monthly : An individual wishes to deposit an amount of money now and $100 every six months so that at the end of five years $1,500 will have been accumulated. With interest at 3.97% per year, compounded monthly, how much should be deposited now?

According to the maximum sustained yield model : According to the Maximum Sustained Yield model, a population shows the most rapid growth when it is:

Find the number of quarts of syrup in the case : there are 12 bottles in a case of syrup each bottle contains 24 fl oz of syrup find the number of quarts of syrup in the case.

Define different price-elasticities of demand : For each market (a. & b.) would it be to the producer's advantage (i.e. would TR increase) to raise or lower price? If P0 = $10.00 and Q0 = 100 units, justify your answers by applying the interpretations of those price-elasticities of demand on t..

How long will the rabbit run before it catches the turtle : the turtle never stopped for a break, but his pace was only 1 km hr. how long will the rabbit run before it catches the turtle?

User Account

All Pages