SOLUTION: Hi,
I'd appreciate some help with these questions please.
7. Derek is saving for his daughter’s wedding in 2 years time. He decides to save either
(a) €150 a month starting at
Algebra.Com
Question 713813: Hi,
I'd appreciate some help with these questions please.
7. Derek is saving for his daughter’s wedding in 2 years time. He decides to save either
(a) €150 a month starting at the end of the current month at a nominal rate of 6% a year compounded monthly or
(b) €460 a quarter starting at the end of the current month at a nominal rate of 6% a year compounded quarterly
I've used the formula m((1+i)^t-1)/i my answer to part (a) matches the sample answer given but my answer to paer (b) doesn't.
Answers given: (a) €3814.79 (b) 3794.78)
Regards
Brian
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
My answer for part b is $3879.11. Maybe your given answer for b) is a misprint. Interestingly enough, $3794.78 is the FV of $450 per quarter for 8 quarters at 6% per annum compounded quarterly.
John
Egw to Beta kai to Sigma
My calculator said it, I believe it, that settles it
RELATED QUESTIONS
Can someone please answer this in "Dollars" not pounds I dont not the relation between... (answered by stanbon)
Hi i would like some help on solving these two simultaneous equations for my homework as... (answered by uma)
4) CLASSIC PROBLEM - A traveling salesman (selling shoes) stops at a farm in the... (answered by venugopalramana)
My 15 year old daughter is having some difficulty with this as it will be on her... (answered by bucky)
CLASSIC PROBLEM - A traveling salesman (selling shoes) stops at a farm in the Midwest.... (answered by venugopalramana)
I'm having problem soving the following problems. Please help.
2) Use the geometric... (answered by venugopalramana)
How can I solve this and here is part of them problem the question and part of the answer (answered by mvvr1)
#24.Factor completely. If a polynomial is prime, state this.
9 + 8t^2 − 18t
(answered by Earlsdon)
Hi, Can someone please help me with these problems. I've tried to solve them and having... (answered by aka042)
