As a fringe benefit for the past 12 years, Colin's employer has contributed $50 at the end of each month into an employee retirement account for Colin that pays interest at the rate of 7%/year compounded monthly. Colin has also contributed $1,500 at the end of each of the last 6 years into an IRA that pays interest at the rate of 8%/year compounded yearly. How much does Colin have in his retirement fund at this time? Please round the answer to the nearest cent.
$ __________
22,238.64
Mathematics
You might also like to view...
Evaluate the integral by using a substitution prior to integration by parts.
A. ln (10x + 10x2) + ln (x +1) + C B. ln (10x + 10x2) - 2x + C C. xln (10x + 10x2) + C D. xln (10x + 10x2) + ln (x +1) - 2x + C
Mathematics
Solve the problem.The area A of a triangle is 10x2 + 7x - 12. If the height of the triangle is 2x + 3, find the length of its base.
A. 2(5x + 4)
B. 2(5x - 4)
C. 5x - 4
D.
Mathematics
Determine whether the statement is a proportion.
A. Yes B. No
Mathematics
Identify the numerator and the denominator of the fraction.
A. Numerator 2
Denominator 7
B. Numerator 7
Denominator 2
C. Numerator 9
Denominator 1
D. Numerator
Denominator 7
Mathematics