Suppose payments will be made for 9¼ years at the end of each month
Suppose payments will be made for 9¼ years at the end of each month from an ordinary annuity earning interest at the rate of 3.25%/year compounded monthly. If the present value of the annuity is $49,000, what should be the size of each payment from the annuity? (Round your answer to the nearest cent.)
Homework Answers
Calculating Annuity Payment,
Using TVM Calculation,
PMT = [PV = 49,000, FV = 0, N = 111, I = 0.0325/12]
PMT = $511.71
Monthly Payment = $511.71
Suppose payments will be made for 7¼ years at the end of each month
Suppose payments will be made for 7¼ years at the end of each month from an ordinary annuity earning interest at the rate of 4.25%/Year compounded monthly. If the present value of the annuity is $44,000, what should be the size of each payment from the annuity? (Round your answer to the nearest cent.)
Suppose payments will be made for714years at the end of each month...
Suppose payments will be made for 7(1/4) years at the end of each month from an ordinary annuity earning interest at the rate of 5.75%/year compounded monthly. If the present value of the annuity is $48,000, what should be the size of each payment from the annuity? (Round your answer to the nearest cent.)
Suppose payments were made at the end of each month into an ordinary annuity earning interest...
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 8%/year compounded monthly. If the future value of the annuity after 14 yr is $70,000, what was the size of each payment? (Round your answer to the nearest cent.) $ Need Help? Read Talk to Tuter 5. (-/0.1 Points) DETAILS TANAPMATH5 4.3.018. MY NOTES PRACTICE ANOTHER Suppose payments will be made for 4 years at the end of each month...
Suppose payments were made at the end of each month into an ordinary annuity earning interest
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 4.5%/year compounded monthly. If the future value of the annuity after 12 years is $70,000, what was the size of each payment? (Round your answer to the nearest cent.)
Suppose payments were made at the end of each month into an ordinary annuity earning interest...
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 2.5%/year compounded monthly. If the future value of the annuity after 10 years is $65,000, what was the size of each payment? (Round your answer to the nearest cent.)
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Harlan made equal payments at the end of each month into his RRSP. If interest in...
Harlan made equal payments at the end of each month into his RRSP. If interest in his account is 7% compounded semi-annually, and the balance after twelve years is $13,000, what is the size of the monthly payment? The size of the monthly payment is $7. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
9. A 15-year annuity pays $1,500 per month, and payments are made at the end of...
9. A 15-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 13% compounded monthly for the first seven years, and 10% compounded monthly thereafter, what is the present value of the annuity? (16 Marks)
A 15-year annuity pays $2,000 per month, and payments are made at the end of each...
A 15-year annuity pays $2,000 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly for the first Six years and 9 percent compounded monthly thereafter. Required: What is the present value of the annuity? $181,632.49 $185,265.14 $2,179,589.93 $177,999.84 $252,753.46 <This was wrong
A 16-year annuity pays $1,300 per month, and payments are made at the end of each...
A 16-year annuity pays $1,300 per month, and payments are made at the end of each month. The interest rate is 13 percent compounded monthly for the first six years and 12 percent compounded monthly thereafter. What is the present value of the annuity?
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 8%/year compounded monthly. If the future value of the annuity after 14 yr is $70,000, what was the size of each payment? (Round your answer to the nearest cent.) $ Need Help? Read Talk to Tuter 5. (-/0.1 Points) DETAILS TANAPMATH5 4.3.018. MY NOTES PRACTICE ANOTHER Suppose payments will be made for 4 years at the end of each month...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Harlan made equal payments at the end of each month into his RRSP. If interest in his account is 7% compounded semi-annually, and the balance after twelve years is $13,000, what is the size of the monthly payment? The size of the monthly payment is $7. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
9. A 15-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 13% compounded monthly for the first seven years, and 10% compounded monthly thereafter, what is the present value of the annuity? (16 Marks)
Most questions answered within 3 hours.
-
Starting from rest, a car accelerates at a constant rate of 2.6
m/s2 for a time...
asked 15 seconds from now -
Is oxygen difluoride polar or nonpolar?
nonpolar
polar
ionic
none of the above
asked 3 minutes ago -
A pharmaceutical company wants to answer the question whether
time for a drug in pill form...
asked 2 minutes ago -
) Assume that in the market for widgets, demand is highly
elastic compared to supply. If...
asked 12 minutes ago -
Why is a personal interview the most important step in the sales
selection process? What are...
asked 23 minutes ago -
In Python rOverlap (x1, y1, w1, h1, x2, y2, w2, h2) A rectangle
is axis-aligned if...
asked 23 minutes ago -
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 33 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 33 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 36 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 39 minutes ago -
A newspaper in a large Midwestern city reported that the
National Association of Realtors said that...
asked 41 minutes ago -
1. Develop a use case diagram for the bank case study described
in Chapter 1. 2....
asked 51 minutes ago