PMT= Present value × (i/(1-(1+i)^-n))
n=mt = 4 quarters * 20 years=80 quarters
i= Interest rate /Quarters = 0.04/4= 0.01
Thus, PMT= 75000 × (0.01/ {1 - (1.01)^-80})
Thus PMT= periodic monthly intervals= 1366.41 $
find the periodic withdrawals for the given annuity account. $75,000 at 4%, paid out quarterly for...
E Find the amount necessary to fund the given withdrawals. Quarterly withdrawals of $950 for 9 years; interest rate is 5.1% compounded quarterly. The amount necessary to fund the given withdrawals is $ (Round to the nearest cent as needed.)
Find the periodic withdrawal for an annuity containing $275,000 at 6%, paid out monthly for 30 years. (Assume end-of-period deposits and compounding at the same intervals as deposits). Round your answer to the nearest cent.
find the present value
Find the present value PV of the annuity account necessary to fund the withdrawal given. Hint [See Quick Example 3.] (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $800 per month for 20 years, if the account earns 2% per year and if there is to be $10,000 left in the annuity at the end of the 20 years PV = $
Find the future value of an ordinary annuity of $4,000 paid quarterly for 3 years, if the interest rate is 7%, compounded quarterly. (Round your answer to the nearest cent.)
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT (See Quick Example 2.) (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $50,000 in a fund paying 5% per year, with monthly payments for 5 years, if the fund contains $10,000 at the start PMT - $ 6000 x 546.52
Find the payment made by the ordinary annuity with the given present value. $252,670; quarterly payments for 30 years; interest rate is 7%, compounded quarterly
A continuous annuity is a steady stream of money that is paid out, for example, by making an initial deposit in an account and then making steady withdrawals to pay the annuity. Suppose that an initial deposit of $3600 is made into an account that earns 6% interest compounded continuously, and immediately continuous withdrawals are begun at the rate of $200 per year. a.) Set up the differential equation that is satisfied by the amount f(t) of money in the...
Find the payment made by the ordinary annuity with the given present value. $260,832: quarterly payments for 33 years, interest rate is 6%, compounded quarterly The payment is $ (Simplify your answer. Round to the nearest cent as needed.)
Find the present value of the following ordinary annuity. Term Interest Rate Periodic Payment $2900 Payment Interval 6 months 6 months 4 years 4% Conversion Period quarterly Period 4 years 4%
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)$10,000 in a fund paying 7% per year, with monthly payments for 10 years PMT = $ When I was considering what to do with my $10,000 lottery winnings, my broker suggested that I invest half of it in gold, the value of which was growing by 9%...