How much must be invested at the beginning of each year at 8%, compounded annually, to...

Question

Question

How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years?

A house is rented for 56,600 per quarter, with each rent payable due at the beginning of each quarter. If money is worth 5%,

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

AD= Annuity Que FV= Future Value PMT= annuity andent of each annuity payment FX PMT [ (119-C+1) i i interest rate W = No. yg

Add a comment

Answer 2

Similar Homework Help Questions

How much must be invested at the beginning of each year at 8%, compounded annually, to...

How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity dhe (b) Solve the problem. (Round your answer to the nearest cent.) $ 2550 X Grandparents plan to open an account on the grandchild's birthday and contribute each month until she goes to college. How much must...
How much must be invested at the beginning of each year at 8%, compounded annually, to...

How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an antity due. O ordinary annuity annuity due (b) Solve the problem. (Round your answer to the nearest cont.) $ 252430 X
How much must be invested at the beginning of each year at 8%, compounded annually, to...

How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) Solve the problem. (Round your answer to the nearest cent.) Jake Werkheiter decides to invest $4000 in an IRA at the end of each year for the next year. If he makes these investments, and...

Find the future value of an annuity due of $2,000 paid at the beginning of each...

Find the future value of an annuity due of $2,000 paid at the beginning of each 6-month period for 6 years if the Interest rate is 6%, compounded semiannually (Round your answer to the nearest cent. $ Need Help? Talk to a A house is rented for $6,600 per quarter, with each rent payable due at the beginning of each quarter of money is worth 5%, compounded quarterly, and the rent is deposited in an account, what is the future...
Just need the answers please $8000 is deposited at the end of each half year in...

Just need the answers please $8000 is deposited at the end of each half year in an account that earns 6.7% compounded semiannually, after how many half years will the account contain $140,000? (Round your arvwer up to the nearest half year) half years Need Help? Find the future value of an annuity due of $900 each quarter for years at 9%, compounded quarterly (Round your answer to the nearest cont.) $ Need Help? Red Maverit Talk to Tutor Find...
A year end bonus of $22,000 will generate how much money at the beginning of each...

A year end bonus of $22,000 will generate how much money at the beginning of each month for the next year, if it can be invested at 6.27%, compounded monthly? (Round your answer to the rest ont.) $ Need Help? Tektor An insurance settlement of $1 milion must replace Trinde Eden's income for the next 35 years. What income will this settlement provide at the end of each month if it is invested in an annuky that ears 5,3%, compounded...

years. If an annuity is set up for this purpose, how much must be invested now...

years. If an annuity is set up for this purpose, how much must be invested now if the annuity A company wants to have $40,000 at the beginning of each 6-month period for the next cars 6.62%, compounded semiannually? (a) Decide whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity annuity due (b) solve the problem. (Round your answer to the nearest cont.) $282409.50 An insurance settlement of $1 milion must replace Trixie Eden's...
need corrections please ty answers only please A sinking fund is established by a working couple...

need corrections please ty answers only please A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end of each 3-month period for 16 years, and interest is paid at 14%, compounded quarterly, what sie deposits must they make? (a) State whether the problem relates to an ordinary annuity or an annuity dur. ordinary annuity annuity due...
A state lottery pays $10,000 at the beginning of each month for 20 years. How much...

A state lottery pays $10,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 8.2%, compounded monthly (a) Decide whether the problem relates to an ordinary annuity or an annuity due. annuity due O ordinary annuity () Solve the problem. (Round your awer to the nearest cont.) $ Recent sales of some real estate and record profits make...

NI- years? (Round your an If $88,000 is invested in an annuity that eams 5.8%, compounded...

NI- years? (Round your an If $88,000 is invested in an annuity that eams 5.8%, compounded quarterly, what payments will it provide at the end of each quarter for the next 8 nearest cent.) X Need Help? $173536 Read it Tik to a Tutor Find the present value of an annuity due that pays $2000 at the beginning of each quarter for the next 6 years. Assume that money is worth 6.6%, compounded quarterly. (Round your answer to the nearest...

How much must be invested at the beginning of each year at 8%, compounded annually, to...

Homework Answers