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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 154
AMERICAN RIVER COLLEGE
www.arc.losrios.edu
Facts:
• 1955: Founded
• 2010: About 35,000 students
• 2011: 58% of the students are under 30
• 2011: 50.3% of students are women
American River offers students a choice of more than 70 different majors of study, including biology, engineering, hospitality management, mortuary science, collision repair, business, and even fire technology. College personnel work closely with students to help them find financial aid.
Amazingly, about one-half of the students at American River College receive some kind of financial aid. Roman Rodriguez had 3 years of experience when he went to work in Human Resources at American River College at a salary of $42,000. He began work on his 30th birthday. The college matches his contributions to his retirement plan up to 8% of his salary.
American River has decided to build a new classroom building and will need $8,250,000 in 7 years. They decide to make contributions into a sinking fund at the end of each 6-month period. Find the payment needed if funds earn 5% per year.
www.arc.losrios.edu
Facts:
• 1955: Founded
• 2010: About 35,000 students
• 2011: 58% of the students are under 30
• 2011: 50.3% of students are women
American River offers students a choice of more than 70 different majors of study, including biology, engineering, hospitality management, mortuary science, collision repair, business, and even fire technology. College personnel work closely with students to help them find financial aid.
Amazingly, about one-half of the students at American River College receive some kind of financial aid. Roman Rodriguez had 3 years of experience when he went to work in Human Resources at American River College at a salary of $42,000. He began work on his 30th birthday. The college matches his contributions to his retirement plan up to 8% of his salary.
American River has decided to build a new classroom building and will need $8,250,000 in 7 years. They decide to make contributions into a sinking fund at the end of each 6-month period. Find the payment needed if funds earn 5% per year.
Explanation
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This is a problem of finding the amount ...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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