Top Posters
Since Sunday
c
5
j
5
a
5
L
5
f
5
j
5
D
4
k
4
y
4
t
4
h
4
l
4
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
gewusel gewusel
wrote...
Go to Answer
Posts: 370
Rep: 0 0
6 years ago
Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement savings account paying him a long-term interest of 9% compounded quarterly until retirement. The rate changes following the retirement. He wants $7000 per month paid to him at the start of the month for 20 years after the retirement. At what rate should his savings account pay him to fulfill his dream? (Use the Rate function in Excel)
A) 9%
B) 10%
C) 6.22%
D) 10.27%
E) 6.34%
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
Read 175 times
2 Replies
Replies
Answer verified by a subject expert
SupremeSupreme
wrote...
#1
Posts: 375
Rep: 191 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

wrote...
#2
4 years ago
very hard
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  742 People Browsing
 106 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 253
  
 1608
  
 190
Your Opinion
Do you believe in global warming?
Votes: 422
Previous poll results: Who will win the 2024 president election?