Future value of annuity=Annuity[(1+rate)^time period-1]/rate
19000=Annuity[(1.08)^11-1]/0.08
19000=Annuity*16.64548746
Annuity=19000/16.64548746
=$1141.45(Approx).
(Annuity payments) To pay for your child's education, you wish to have accumulated $19,000 at the...
(Solving for PMT of an annuity) To pay for your child's education, you wish to have accumulated $20,000 at the end of 9 years. To do this you plan on depositing an equal amount into the bank at the end of each year. If the bank is willing to pay 14 percent compounded annually, how much must you deposit each year to reach your goal? To reach your goal, your annual deposit must be $ . (Round to the nearest...
To pay for your child's education, you wish to have accumulated $14,000 at the end of 14 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 12 percent compounded annually, how much must you deposit each year to obtain your goal?
To pay for your child's education, you wish to have accumulated $14 comma 14,000 at the end of 11 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 88 percent compounded annually, how much must you deposit each year to obtain your goal?
Round to the nearest cent (Solving for PMT of an annuity) To pay for your child's education, you wish to have accumulated $15,000 at the end of 10 years. To do this you plan on depositing an goal? equal amount into the bank at the end of each year. If the bank is willing to pay 14 percent compounded annually, how much must you deposit each year to reach your To reach your goal, your annual deposit must be(Round to...
1.Mr. Bill S. Preston, Esq., purchased a new house for $90,000. He paid $20,000 upfront and agreed to pay the rest over the next 10 years in 10 equal annual payments that include principal payments plus 12 percent compound interest on the unpaid balance. What will these equal payments be? A. Mr. Bill S. Preston, Esq., purchased a new house for $90,000 and paid $20,000 upfront. How much does he need to borrow to purchase the house? $_ (Round to...
1. You have $49,061.69 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $200,000. You expect to earn 9.1% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number. 2. Present and Future Value of an Uneven Cash Flow Stream An investment will pay $100 at the end of each of the next 3...
11 $90,000 invested in an annuity that compounded quarterly, what payments will it provide at the end of each quarter for the next 2. years? (Round your answer to the nearest cent 3160390 X Need Help? Suppose an annuity will pay $14,000 at the beginning of each year for the next years. How much money is needed to start this annuity in keams 7,7%, compounded annually (Round your answer to the nearest cont.) $ Need Help? To The
11-16 I need help quick 9. You are offered an annuity that will pay $24,000 per year for 11 years (the first payment will occur one year from today). If you feel that the appropriate discount rate is 13%, what is the annuity worth to you today? AnnPay - 24,000 DR = 13 S 134PMT -24,00 world tried It Yrs 86-59 CK NO 1 FV-O Current value of annuity in 136,486.59 10. If you deposit $16,000 per year for 12...
(Related to Checkpoint 6.1) (Annuity payments) Lisa Simpson wants to have $1,700,000 in 30 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 8.50 percent annually. What must Lisa's annual deposit be? The amount of Lisa's annual deposit must be $ (Round to the nearest cent.) (Related to Checkpoint 6.1) (Annuity payments) Lisa Simpson wants to have $1,700,000 in 30 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 8.50 percent annually. What must...
What amount must be set aside now to generate payments of $40,000 at the beginning of each year for the next 10 years if money is worth 5.80%, compounded annually (Round your answer to the nearest cent Need Help? Rends We Talk to Tur Suppose an annuity will pay $14,000 at the beginning of each year for the next years. How much money is needed to start this annuity if it earns 7.7%, compounded annually (Round your answer to the...