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Math
Advanced MathContemporary Mathematics for Business & Consumers8th Edition

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Chapter 12, Problem 15AT
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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

Solutions

Chapter
Section
Problem 1CR
Problem 2CR
Problem 3CR
Problem 4CR
Problem 5CR
Problem 6CR
Problem 7CR
Problem 8CR
Problem 9CR
Problem 10CR
Problem 11CR
Problem 12CR
Problem 13CR
Problem 14CR
Problem 1AT
Problem 2AT
Problem 3AT
Problem 4AT
Problem 5AT
Problem 6AT
Problem 7AT
Problem 8AT
Problem 9AT
Problem 10AT
Problem 11AT
Problem 12AT
Problem 13AT
Problem 14AT
Problem 15AT
Problem 16AT
Problem 17AT
Problem 18AT
Problem 19AT
Problem 20AT
Problem 21AT
Problem 22AT
Problem 23AT
Problem 24AT
Problem 25AT
Problem 26AT
Problem 27AT
Problem 28AT
Problem 29AT
Problem 30AT
Problem 31AT
Problem 32AT
Problem 33AT
Problem 34AT
Problem 35AT
Problem 36AT
Problem 1CLA
Problem 2CLA
BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Solve the following exercises by using tables.

What amount must be deposited now to withdraw $200 at the beginning of each month for 3 years if interest is 12% compounded monthly?

To determine

To calculate: The present value of annuities due where annuity payment is $200, frequency of payment is 1 month, time duration is 3 years, nominal rate of return is 12% and interest is compounded monthly.

Explanation

Given Information:

Annuity payment is $200, frequency of payment is 1 month, time duration is 3 years, nominal rate of return is 12% and interest is compounded monthly.

Formula used:

The formula to compute the present value of annuity due is,

Present Value=Annuity due table factor×Annuity payment

Annuity due table factor=Ordinary annuity table factor+1.00000

Calculation:

Consider that annuity payment is $200, frequency of payment is 1 month, time duration is 3 years, nominal rate of return is 12% and interest is compounded monthly.

The rate period is 1%(12%÷12 period per year).

The number of periods is 35(3 years×12 period per year-1)

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Chapter 12 Solutions

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Sect-12.I P-1TIESect-12.I P-2TIESect-12.I P-3TIESect-12.I P-1RESect-12.I P-2RESect-12.I P-3RESect-12.I P-4RESect-12.I P-5RESect-12.I P-6RESect-12.I P-7RE
Sect-12.I P-8RESect-12.I P-9RESect-12.I P-10RESect-12.I P-11RESect-12.I P-12RESect-12.I P-13RESect-12.I P-14RESect-12.I P-15RESect-12.I P-16RESect-12.I P-17RESect-12.I P-18RESect-12.I P-19RESect-12.I P-20RESect-12.I P-21RESect-12.I P-22RESect-12.I P-23RESect-12.I P-24RESect-12.II P-4TIESect-12.II P-5TIESect-12.II P-6TIESect-12.II P-1RESect-12.II P-2RESect-12.II P-3RESect-12.II P-4RESect-12.II P-5RESect-12.II P-6RESect-12.II P-7RESect-12.II P-8RESect-12.II P-9RESect-12.II P-10RESect-12.II P-11RESect-12.II P-12RESect-12.II P-13RESect-12.II P-14RESect-12.II P-15RESect-12.II P-16RESect-12.II P-17RESect-12.II P-18RESect-12.II P-19RESect-12.II P-20RESect-12.II P-21RESect-12.II P-22RESect-12.II P-23RESect-12.II P-24RESect-12.III P-7TIESect-12.III P-8TIESect-12.III P-9TIESect-12.III P-10TIESect-12.III P-1RESect-12.III P-2RESect-12.III P-3RESect-12.III P-4RESect-12.III P-5RESect-12.III P-6RESect-12.III P-7RESect-12.III P-8RESect-12.III P-9RESect-12.III P-10RESect-12.III P-11RESect-12.III P-12RESect-12.III P-13RESect-12.III P-14RESect-12.III P-15RESect-12.III P-16RESect-12.III P-17RESect-12.III P-18RESect-12.III P-19RESect-12.III P-20RESect-12.III P-21RESect-12.III P-22RESect-12.III P-23RESect-12.III P-24RESect-12.III P-25RECh-12 P-1CRCh-12 P-2CRCh-12 P-3CRCh-12 P-4CRCh-12 P-5CRCh-12 P-6CRCh-12 P-7CRCh-12 P-8CRCh-12 P-9CRCh-12 P-10CRCh-12 P-11CRCh-12 P-12CRCh-12 P-13CRCh-12 P-14CRCh-12 P-1ATCh-12 P-2ATCh-12 P-3ATCh-12 P-4ATCh-12 P-5ATCh-12 P-6ATCh-12 P-7ATCh-12 P-8ATCh-12 P-9ATCh-12 P-10ATCh-12 P-11ATCh-12 P-12ATCh-12 P-13ATCh-12 P-14ATCh-12 P-15ATCh-12 P-16ATCh-12 P-17ATCh-12 P-18ATCh-12 P-19ATCh-12 P-20ATCh-12 P-21ATCh-12 P-22ATCh-12 P-23ATCh-12 P-24ATCh-12 P-25ATCh-12 P-26ATCh-12 P-27ATCh-12 P-28ATCh-12 P-29ATCh-12 P-30ATCh-12 P-31ATCh-12 P-32ATCh-12 P-33ATCh-12 P-34ATCh-12 P-35AT

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