10.- The Arriba México foundation donated $2,000,000 to a charitable institution. The money was deposited in an account that pays an annual interest rate of 14% compounded monthly. How much can the institution withdraw each month if the withdrawals are in advance and intended to be indefinite? options: 22,621.15 25,018.24 24,999.95 23,064.25
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10.- The Arriba México foundation donated $2,000,000 to a charitable institution. The money was deposited in an account that pays an annual interest rate of 14% compounded monthly. How much can the institution withdraw each month if the withdrawals are in advance and intended to be indefinite?
options:
22,621.15
25,018.24
24,999.95
23,064.25
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- K The trustees of a college have accepted a gift of $100,000, but are required to deposit it in an account paying 8% per year, compounded semiannually. They may make equal withdrawals at the end of each six-month period, but the money must last 4 years. Find the amount of each withdrawal. The amount of each (Round your answer tClearlake Optical has a $50,000 note that comes due in 5 years. The owners wish to create a sinking fund to pay this note. If the fund earns 4.5% compounded semiannually, how much must each semiannual deposit be? (Round your answer to the nearest cent.) ___$A non-profit has put $360, 000 into an account to help fund the programming at a community center for 4 years. The account earns 2.1 % interest. Answer the questions below. Round answers to 2 decimal places. (a) If the non-profit withdraws an equal amount of money at the start of each year (and interest is compounded annually), how much would the maximal yearly withdrawls be? $ (b) What would the total amount for the community center be? $ (c) If the non-profit withdraws an equal amount of money at the start of each month (and interest is compounded monthly), how much would the monthly withdrawls be? $ (d) What would the total amount for the community center be in this case? $
- A corporation creates a sinking fund in order to have $910,000 to replace some machinery in 8 years. How much should be placed in this account at the end of each month if the annual interest rate is 6.8% compounded monthly? (Round your answers to the nearest cent.) $ How much interest would they earn over the life of the account? $ Determine the value of the fund after 2, 4, and 6 years. 2 years S 4 years S 6 years S How much interest was earned during the second month of the 6th year? SQuestion:- How much can be paid in scholarship at the beginning of each month if $200000 is deposited in a trust fund if interest is 3.5% compounded monthly. The Amount that can be paid each month is $_______(round to six decimal places)Ms Oksana Doe has just inherited an investment account worth $2,800,000 from her grandparents. The fund earns an annual interest rate of 6%. She plans to make uniform annual withdrawals from the account over the next 25 years. Answer the following two questions: 1. How much will each annual withdrawal be? OA. $223,160 OB. $47,320 OC. $50,960 OD. $232,120 OE. $218,960 2. What will be the balance in the account immediately after making the 8th annual withdrawal? OA. $1,359,698 OB. $1,048,320 OC. $2,294,110 O D. $2,431,991
- Camosun College has just received a donation of $50,000. The donor has stipulated that the funds should be used to fund an ongoing annual bursary with the first payment given out in one year. If the money is invested into an account earning 3.71% compounded annually (j1), how much will the annual bursary be? Your Answer:Mike wants to donate S5, 000, 000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of 5.37% p.a. compounded half-yearly (j2 = 5.37% p.a.) and the first scholarship will be first awarded 3.5 years after the date of the donation. (a) What is the amount of the annual scholarship (rounded to two decimal places) ? Question 9 Answer a. 313037.32 b 306010.79 с. 153267.24 d. 310649.70A corporation creates a sinking fund in order to have $590000 to replace some machinery in 9 years. How much should be placed in this account at the end of each month if the annual interest rate is 5.5% compounded monthly? (Round your answers to the nearest cent).$ How much interest would they earn over the life of the account? $ Determine the value of the fund after 2 years ______$ 5years 6 years How much interest was earned during the third month of the 5th year?
- Kwantlen Polytechnic University received a semi-annual donation of $50,000 per year for the next fifteen years, with the first payment being received today. Given a discount rate of 5.5% compounding semi-annually, determine the present value of the donation. Select one: a. $529,482 b. $1,012,465 x c. $1,040,308 d. $1,500,000You plan to donate $2,500,000 to establish a fund to support the Feliciano School of Business at Montclair State. For that sum, your bank offers to establish a perpetuity that will pay $120,000 every year into the future. What is the rate the banker is offering on this deposit? 4.36% 20.83% 11.27% 4.80%A corporation creates a sinking fund in order to have $630,000 to replace some machinery in 8 years. How much should be placed in this account at the end of each month if the annual interest rate is 4.8% compounded monthly? (Round your answers to the nearest cent.) $4 How much interest would they earn over the life of the account? Determine the value of the fund after 2, 4, and 6 years. 2 years $ 4 years $ 6 years $ How much interest was earned during the second month of the 4th year? Additional Materials O eBook