Stacey has $5,000,000 on deposit in a fund that earns 9% interest compounded annually. How much can Stacey withdraw annually from the fund in ten equal annual withdrawals to completely deplete the fund after the tenth draw, assuming the first withdrawal occurs today?
A. $714,771
B. $779,100
C. $861,298
D. $922,908
Answer: A
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The future value of $7,000 deposited today and compounded semiannually at an 9% annual interest rate for four years is
A. $9,955. B. $9,520. C. $8,100. D. $7,920.
Answer the question.You must decide whether to buy a new car for $26,000 or lease the same car over a three-year period. Under the terms of the lease, you make a down payment of $1600 and have monthly payments of $320. At the end of three years, the leased car has a residual value (the amount you pay if you choose to buy the car at the end of the lease period) of $15,000. Assume you sell the new car at the end of three years at the same residual value. Compare the cost of leasing and buying the car.
A. Buy $11,000, lease $13,420 B. Buy $12,000, lease $13,120 C. Buy $11,000, lease $12,820 D. Buy $11,000, lease $13,120
Write the first five terms of the geometric sequence with the given first term a and common ratio r.a = 6; r = -5
A. 6, 30, 150, -750, 3750 B. 6, -30, 150, -750, 3750 C. 6, 1, -4, -9, -14 D. -5, -30, 150, -750, 3750
Determine whether the given sequences are equal to each other.(k2 -9) and (k + 3)(k - 3)
A. equal B. not equal