Thursday

September 18, 2014

September 18, 2014

Posted by **Anonymous** on Monday, November 7, 2011 at 2:49pm.

quarterly, how much must Alice place in the account to have the required amount? (a) $ 6,274.10 (b) $ 8,877.10 (c)$ 8,573.40 (d) $ 5,000.00 (e) $ 10,000.00

- Math -
**Henry**, Wednesday, November 9, 2011 at 3:53pmPt = Po(1+r)^n.

r = (6% / 4) / 100% = 0.015 = QPR expressed as a decimal.

n = 4comp/yr * 2yrs = 8 Compounding periods.

$10,000 = Po(1.015)^8,

Po = 10,000 / (1.015)^8 = $8877.11.

**Answer this Question**

**Related Questions**

Math - A person wants to establish an annuity for retirement purposes. He wants ...

math - Jim wants to deposit money in an account to save for a new stereo system ...

math - A deposit of $2,000 earns interest at a rate of 14% compounded quarterly...

value of money - A deposit of $2,000 earns interest at a rate of 14% compounded ...

Math - (a) Themba wants to deposit a sum of money into a savings account so that...

Math - Alice Wolf wants to know how much she will have to invest today in order...

math - Jim wants to deposit money in an account to save for a new stereo system ...

Math - Serena wants to borrow $15 000 and pay it back in 10 years. Interest ...

algebra HELP ASAP - If $13,000 is deposited in a bank account paying 6% ...

math - Frank opened a savings account with $700 at 4.5 percent interest, ...