Recent Posts • Latest Topics • Unanswered Questions

Jamal plans to retire in 17 years. He is saving $2000 every month in a retirement savings account ...

gewusel

wrote...

Go to Answer

Posts: 370

Rep:

6 years ago

Jamal plans to retire in 17 years. He is saving $2000 every month in a retirement savings account ...

Jamal plans to retire in 17 years. He is saving $2000 every month in a retirement savings account paying him a long-term interest of 9% compounded semi-annually until retirement. The rate changes following the retirement. He wants $7000 per month paid to him for 20 years after the retirement. At what rate (semi-annually) should his savings account pay him to fulfill his dream? (Use the Rate function in Excel.)
A) 0.54%
B) 3.28%
C) 0.86%
D) 10.27%
E) 6.55%

Textbook

Contemporary Business Mathematics with Canadian Applications

Edition: 11^th

Authors: Hummelbrunner, Halliday, Hassanlou, Coombs

Read 163 times

1 Reply

Report

Replies

Answer verified by a subject expert

Axy

wrote...

Posts: 349

Rep:

6 years ago

More solutions for this book are available here

Report

Related Topics

gewusel Author

wrote...

6 years ago

Thank you, thank you, thank you!

annielin111

wrote...

Yesterday

This calls for a celebration Person Raising Both Hands in Celebration

elizabetheldrid

wrote...

2 hours ago

Helped a lot

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1155 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

717

940

5381

Your Opinion

Previous poll results: Should Ph.D.'s be addressed as doctors?

The Toxic Skin and Fungi Defense

Strange Ingredients Lurking in Doritos Chips

Courses by Biology Forums

Bonobos, Chimpanzees, and the 98% DNA Link

It's sore throat season, why does my mucus have red spots?

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.