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Find the present value of an annuity with payments of $1,250 at the end of each...
What is the discounted value of payments of $78.00 made at the end of each year...
What is the discounted value of payments of $78.00 made at the end of each year for 10 years if interest is 8% compounded annually? The discounted value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
7. How much interest is included in the future value of an ordinary simple annuity of...
7. How much interest is included in the future value of an ordinary simple annuity of $1,350 paid every six months at 6% compounded semi-annually if the term of the annuity is 2 years? The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 8. Glenn has made contributions of $250 at the end of every three months into an RRSP for ten years. Interest for...
Find the present value of the following ordinary annuity. Periodic payment Payment Interval Term Interest Rate...
Find the present value of the following ordinary annuity. Periodic payment Payment Interval Term Interest Rate Conversion period $2900 3 months 8 years 8% annually The present value is $____? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) please help ! ASSISTANCE NEEDED PLEASE !
Find the future value of the following ordinary simple annuity. Periodic Payment Payment Interval Term Interest...
Find the future value of the following ordinary simple annuity. Periodic Payment Payment Interval Term Interest Rate $675.00 8 years 7% Conversion Period semi-annually 1 2 year The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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.)
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a)...
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a) If interest is 5.22% compounded annually, what is the size of each monthly payment? (b) Find the total interest paid during the first year. (c) Compute the interest included in the 26th payment. (d) If the mortgage is renewed after five years at 4.10% compounded annually, what is the size of the monthly payment for the renewal period? (0) Construct a partial amortization schedule...
An installment contract for the purchase of a car requires payments of $328.37 at the end...
An installment contract for the purchase of a car requires payments of $328.37 at the end of each month for 5.75 years. Interest is 7% per annum compounded monthly (a) What is the amount financed? (b) How much is the interest cost? (a) The amount financed is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $7 (Round the final answer to the nearest...
Please help thank you. A $87,000 mortgage is to be amortized by making monthly payments for...
Please help thank you.
A $87,000 mortgage is to be amortized by making monthly payments for 15 years. Interest is 8.1% compounded semi-annually for a seven-year term. (a) Compute the size of the monthly payment. (b) Determine the balance at the end of the seven-year term. (c) If the mortgage is renewed for a seven-year term at 7% compounded semi-annually, what is the size of the monthly payment for the renewal term? (a) The size of the monthly payment is...
A property was purchased for $9127.00 down and payments of $768.00 at the end of every...
A property was purchased for $9127.00 down and payments of $768.00 at the end of every year for 9 years. Interest is 9 % per annum compounded quarterly What was the purchase price of the property? How much is the cost of financing? The purchase price of the property was ? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The cost of financing is ? (Round the final...
The debt is amortized by equal payments made at the end of each payment interval. Compute...
The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated; and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal. Debt Principal Repayment Period Payment Interval Interest Rate Conversion Period Outstanding Principal After: $14,000 6 years 6 months 10% semi-annually 7th...
What is the discounted value of payments of $78.00 made at the end of each year for 10 years if interest is 8% compounded annually? The discounted value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
7. How much interest is included in the future value of an ordinary simple annuity of $1,350 paid every six months at 6% compounded semi-annually if the term of the annuity is 2 years? The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 8. Glenn has made contributions of $250 at the end of every three months into an RRSP for ten years. Interest for...
Find the future value of the following ordinary simple annuity. Periodic Payment Payment Interval Term Interest Rate $675.00 8 years 7% Conversion Period semi-annually 1 2 year The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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.)
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a) If interest is 5.22% compounded annually, what is the size of each monthly payment? (b) Find the total interest paid during the first year. (c) Compute the interest included in the 26th payment. (d) If the mortgage is renewed after five years at 4.10% compounded annually, what is the size of the monthly payment for the renewal period? (0) Construct a partial amortization schedule...
An installment contract for the purchase of a car requires payments of $328.37 at the end of each month for 5.75 years. Interest is 7% per annum compounded monthly (a) What is the amount financed? (b) How much is the interest cost? (a) The amount financed is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $7 (Round the final answer to the nearest...
Please help thank you.
A $87,000 mortgage is to be amortized by making monthly payments for 15 years. Interest is 8.1% compounded semi-annually for a seven-year term. (a) Compute the size of the monthly payment. (b) Determine the balance at the end of the seven-year term. (c) If the mortgage is renewed for a seven-year term at 7% compounded semi-annually, what is the size of the monthly payment for the renewal term? (a) The size of the monthly payment is...
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