Question

Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $1300/semiannual period for 5 yr at 12%/year compounded semiannually $ Need Help? Read Talk to a Tutor MY NOTES PRACTICE ANOTHER 5. (-/0.1 Points] DETAILS TANAPMATHS 4.2.014. Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $130/month for 14 yr at 7%/year compounded monthly Need Help? Read Talk te Tutor MY NOTES PRACTICE ANOTHER 6. [-70.1 Points) DETAILS TANAPMATHS 4.2.016.MI. If Jackson deposits $200 at the end of each month in a savings account earning interest at a rate of year compounded monthly, how much will he have on deposit in his savings account at the end of 4 yr, assuming he makes no withdrawals during that period? (Round your answer to the nearest cent.) $ Need Help? Read Master

Answer 1

5 Formala used q=RCI-litil i R payment at the end of each periodo r= intenst rate m = no. of compounting perisel pe you. -168 - 130 1-(1+x) a) i=8 ${ m 7/18 n = mt , t= no of year -168 - 130 7/12 So, here R=$150 12 7% m = 12 i= 7 12 222 857 ) n = 12X14 = 168 IP - $ 222.86 (Coreet upto nearrt cent)