What annual sinking fund payment should they establish

Assignment Help Mathematics
Reference no: EM131627741

Question: Tristin and Kim Denley are establishing a college fund for their 1-year-old daughter, Chloe. They want to save enough now to pay college tuition at the time she enters college (17 years from now). If her tuition is projected to be $35,000 for a two-year degree, what annual sinking fund payment should they establish if the annual interest is 8%?

Reference no: EM131627741

Questions Cloud

Several opposing views on preventing workplace violence : There are several opposing views on preventing workplace violence.
Describe three waterborne diseases : What health-related considerations relate to the use of recycled water? What level of processing is required for wastewater to be recycled?
What annual sinking fund payment should they make : Kathy and Patrick Mowers have a 12-year-old daughter and are now in a financial position to begin saving for her college education.
Argue against the practice of animal testing : Write a formal essay - arguing for the morality or immorality of some ethical issue - After you develop and support your positive argument, consider
What annual sinking fund payment should they establish : Tristin and Kim Denley are establishing a college fund for their 1-year-old daughter, Chloe. They want to save enough now to pay college tuition.
How do you ensure you are finding authoritative information : What are some tips to sort through vast amounts of information on the web? How do you ensure you are finding authoritative information?
Define the sociological school of jurisprudence : Differentiate between the Historical School of jurisprudence and the Sociological School of jurisprudence.
What annual payments must be made if air is given : The Bamboo Furniture Company manufactures rattan patio furniture. It has just purchased a machine for $13,500 to cut and glue the pieces of wood.
How would your practice change by incorporating this theory : A discussion of the application of the middle-range theory to the identified problem. How would your practice change by incorporating this theory?

Reviews

Write a Review

Mathematics Questions & Answers

  Indicate which ones are maxima and which are minima

Find the value(s) of x for which: f(x) has a local maximum or local minimum. Indicate which ones are maxima and which are minima.

  Future value of coin collection

Your coin collection contains 53 1952 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2063, assuming they appreciate at a 4.4 percent annual rat..

  The rate of interest is 11 on a 25 year mortgage what

a condo is advertised in the wall street journal for 350000.it states in the ad that a 20 down payment is required.

  What should be the least possible displacement

A car manufacturer states that the engine displacement for a certain model is 2400 cm3 What should be the least possible and greatest possible displacements?

  Upstream to his favorite fishing spot

Don Williams uses his small motorboat to go 4miles upstream to his favorite fishing spot. Against the current, the trip takes 1/3 hour. With the current the trip takes 1/6 hour. How fast can the boat travel in still water? What is the speed of the..

  Determine the sample size suggested

"In theory, the results of such a poll, in 99 cases out of 100 should differ by no more than 5 percentage points in either direction from what would have been obtained by interviewing all voters in the United States." Find the sample size suggeste..

  Illustrate how amounts associated to accounts receivable

in one year a company had 30000 sales revenue on credit. at the start of the year the accounts receivable showed a 6000

  How many ways are there to put a star sticker

How many ways are there to arrange 5 monster figurines and 12 angel figurines in a line on a shelf?

  A multivariate analysis

1. A multivariate analysis has been undertaken on 22 non-metric (binary observation) variables recorded from 2026 skulls belonging to skeletons recovered from two burial sites of different historic periods; 18th cen- tury Spitalfields, London, and 4t..

  Determine which of words or groups of words are terms

The following exercises deal with words and terms.- Determine which of the following words or groups of words are terms and which are nonterms.- extortion - Thomas Jefferson- laborious - Empire State Building- cunningly annoy.

  Banking of circular track

The sleepers of a railway track which is turning round a bend of radius 60m are banked so that a train traveling at 40 km/hr exerts no lateral force on the rails. Find the lateral force exerted on the rails by an engine of mass 10^5 kg when travel..

  What fraction of the plank is 7 piecea

What fraction of the plank is 7 piecea

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd