Register
As part of his retirement planning, Mr. Jones purchases an annuity that pays 11.5% compounded quarterly. If the quarterly payment is $1000, how much will Mr. Jones have saved in 6 years?
70.6k views
0 votes
As part of his retirement planning, Mr. Jones purchases an annuity that pays 11.5% compounded quarterly. If the quarterly payment is $1000, how much will Mr. Jones have saved in 6 years?

User Richard Erickson
by
4.7k points

1 Answer

4 votes

Answer:

24000

Explanation:

User Kees Van Dieren
by
5.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.3m questions

6.9m answers

Other Questions

Pizza planet is running a special 3 pizzas for 16.50. What is the unit rate for one pizza
What number is halfway between 0 and 18
If the 9-inch wheel of cheese costs $18.60, what is the cost per square inch? If the cost is less than a dollar, put a zero to the left of the decimal point?
how long Will it take for $7000 investment to grow to $7553 and the annual rate of 3.4% compounded quarterly assume that no withdrawals are made
I need to simplify this expression.
Link Copied!