Questions LLC
Login
or
Sign Up
Ask a New Question
Mathematics
Financial Mathematics
Compound Interest
John is to receive $1000 at the end of each year for 5 years. If he invests each year’s payment at 8% annually, how much will he have at the end of 5 years?
1 answer
amount = 1000 [ 1.08^5 - 1 ]/.08
= ...
You can
ask a new question
or
answer this question
.
Related Questions
Mr. Mitchell deposited $40,000 in a bank and earned simple interest at 7% per anum for two years.calculate the amount he will
a man accepts a position at 14,250 basic salary with agreement that he will receive a 2% increase every year for 3 years. what
If a person wish to receive 1000 CCU at the end of fifteen years at a return of 6.0% per annum compounded, he would have to save
At the end of every year for 3 years, RM1000 will be invested in an account that offers 8% compounded annualy.Find the account
Students at Apollo Elementary School receive ribbons at the end of each year at a school-wide awards ceremony. This year 120
Sally has won the grand prize in a lottery and must choose between the following three options:
A. Receive a lump sum payment of
An employee is about to receive the sum of P 300.00 at the end of each year for 5 years. One year prior to the receipt of the
If a person wishes to receive 1000 1
CCU at the end of fifteen years at a return of 6.0% per annum compounded, he will have to
Rick deposits$1000 into an investment account which earns 4% interest annually. Sally loans$1000 to a friend, and the friend
Your Uncle has two alternative inheritence for you.
A. You receive 5000 today and 1000 per year for the next 8 years. or B. 5000