Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you make deposits of $400 at the beginning of ever

You make deposits of $400 at the beginning of every month, into an account paying 8%...

50.1K

Verified Solution

Question

Finance

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:

a.136,338

b.137,338

c.138,338

d.139,338

Answer & Explanation Solved by verified expert
4.2 Ratings (853 Votes)
Information provided Monthly deposit 400 Time 15 years12 180 months Interest arte 812 067 The question is concerning finding the future value of an annuity due Annuity due    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:a.136,338b.137,338c.138,338d.139,338

Other questions asked by students

Q

Next question In a test of the effectiveness of garlic for lowering cholesterol 43 subjects...

Biology
Q

4 A resistance wire connected in the left gap of a metre bridge balances a...

Physics
Q

How many ways can a student pick five questions from an exam containing nine questions?There...

Basic Math
Q

7 0 1 Points A graphing calculator is recommended a Find the vertical asymptotes of...

Calculus
Q

The data in the table below represents the percentage of patients who have survived after...

Calculus
Q

3 For each function below state the location of any discontinuities identify each as holes...

Algebra
Q

5 1 point Solve the quadratic equation x 10x 3 Leave your answers in exact...

Algebra
Q

The following statement is false r Mars is not the closest planet to Earth Use...

Algebra
Q

Nitroglycerin is a dangerous powerful explosive that violently decomposes when it is shaken or dropped....

Accounting
Q

1. ABC company issued 10 -year bonds with a par value of $20,000,000 and an...

Accounting
Q

Developing a Master Budget for a Merchandising Organization Peyton Department Store prepares budgets quarterly. The...

Accounting
Q

2023 SECOND SEMESTER Question 6 [11] ACCOUNTING FOR MANAGERS Complete the following table by ticking...

Accounting