subject
Mathematics, 13.07.2019 13:30 ProfS7160

Bruce and karen have a new-born baby, lisa. generous grandparents have made a gift of $15 000 available for lisa. bruce and karen have decided to invest this in trust for lisa so that on her 21st birthday she will have a deposit to buy a one-bedroom home unit. bruce and karen are considering making additional annual payments to the trust account, in order to increase the deposit amount to 40% of the expected price of the unit. assume that the current price of a one-bedroom home unit is $220 000 and that property prices grow at 3% p. a. assume that the trust account receives interest at 6.5% p. a. b) how much must bruce and karen contribute each year to achieve the desired deposit amount of 40% of the unit’s expected purchase price?

ansver
Answers: 2

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 14:00, tristina20
Use the inverse of the function y=x^2-18x to find the unknown value [tex]y = \sqrt{bx + c \: + d} [/tex]
Answers: 3
image
Mathematics, 21.06.2019 19:00, Katy3613
Aplot of land has been surveyed for a new housing development with borders ab, bc, dc, and da. the plot of land is a right trapezoid with a height of 60 feet and an opposite leg length of 65 feet
Answers: 1
image
Mathematics, 21.06.2019 20:30, NetherisIsTheQueen
What is always true about a positive integer raised to a negative odd power?
Answers: 1
image
Mathematics, 21.06.2019 21:30, kalieghcook
If t17 = 3 (t5) in an arithmetic progression, find t1 in terms of d.
Answers: 1
You know the right answer?
Bruce and karen have a new-born baby, lisa. generous grandparents have made a gift of $15 000 availa...

Questions in other subjects:

Konu
Chemistry, 12.08.2020 09:01
Konu
Mathematics, 12.08.2020 09:01
Konu
Mathematics, 12.08.2020 09:01
Konu
Mathematics, 12.08.2020 09:01
Konu
Mathematics, 12.08.2020 09:01