Solution-Trial-and-error in excel or find the algebraic

Trial-and-error in excel or find the algebraic solution

Reference no: EM131227824

Suppose you wanted to have exactly $20000 in your savings account after 48 months at an annual interest rate of 6.5% compounded monthly and you made an initial deposit of $2300. What would your monthly savings have to be (how much would you have to deposit into the account each month) to achieve this goal? You may use trial-and-error in Excel or find the algebraic solution with Maple or by hand to obtain your answer.

How much is in the saving account after... 1 month, 6 months, 1 year, 2 years?

Reference no: EM131227824

Questions Cloud

Number of patients on the y-axis : 1. Please put these on a linear graph with years on the x-axis and expense on the y-axis. I need a projection of this graph up to 2018. Needs to be done so that it can be copied in the words documents

Calculate the expected return on stock : Calculate the expected return on stock.What is the value of a bond that has a par value of $1,000, a coupon rate of 17.24 percent (paid annually), and that matures in 8 years?

What are the three measures of the money supply : (Money Aggregates)What portion of U.S. Federal Reserve notes circulate outside the United States? How does this affect the United States?

What are the authors'' conclusions about this : Consider the numerous bank mergers of the early 2000s.Are bank mergers a good thing? What are the authors' conclusions about this?

Trial-and-error in excel or find the algebraic solution : What would your monthly savings have to be (how much would you have to deposit into the account each month) to achieve this goal? You may use trial-and-error in Excel or find the algebraic solution with Maple or by hand to obtain your answer.

Is delta delivering beta or alpha : Based on the case scenario, students are required to do some research and answer questions Is DELTA delivering beta or alpha? How and why DELTA was developed? and How might the DELTA product cannibalize AQR's existing business

Define the social self in your own words : Make sure to identify differences between individualistic and collectivistic cultures as well as describe the fundamental attribution error. Describe fundamental attribution error; include the implications and cognitive biases involved in fundament..

Explain what is the purpose of a bank reconciliation : What is the purpose of a bank reconciliation? What are the reasons for differences between the cash reported in the accounting records, and the cash balance in the bank statements?

Describing how you think your life has been shaped : In other words, in this assignment you are being asked to discuss your sociological imagination by describing how you think your life has been shaped (for example) as a woman, a Muslim, and a Latina. How has your life been shaped (self-concept, be..

User Account

All Pages

Trial-and-error in excel or find the algebraic solution

Reference no: EM131227824

Reference no: EM131227824

Questions Cloud

Reviews

Write a Review

Mathematics Questions & Answers

Questions on ferris wheel

Logistic map

Finding the probability of cards

Systems of ode

Derive the boolean expression

System of equations

Linear programming problem

Find the natural domain

Introduction to numerical methods

Chart of the topological manifold

Mathematics in computing

Complex problems

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT