Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 01 Jun 2018 My Price 2.00

retirement supplement

How do you solve for the number of quarters until an account's balance is zero?

 

A personal account earmarked as a retirement supplement contains $292,300. Suppose $250,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $6500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.) 

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Jun 2018 07:06 PM My Price 2.00

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