Satwinder deposited $145 at the end of each month for fifteen years at 7.5% compounded monthly. After her last deposit...
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Satwinder deposited $145 at the end of each month for fifteen years at 7.5% compounded monthly. After her last deposit...
Jean receives annuity payments at the end of every six months. If she deposits these payments...
Jean receives annuity payments at the end of every six months. If she deposits these payments in an account earning interest at 9% compounded monthly, what is the equivalent semi-annually compounded rate of interest? What sum of money must be deposited at the end of every 3 months into an account paying 6% compounded monthly to accumulate to $25,000 in 10 years? Irina deposited $150 in a savings account at the end of each month for 60 months. If the...
1. You won $100 000 in a lottery and you want to set some of that...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
Adrian deposited $1,400 at the end of every month into an RRSP for 8 years. The...
Adrian deposited $1,400 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.50% compounded semi-annually for the first 3 years and changed to 4.75% compounded monthly for the next 5 years. What was the accumulated value of the RRSP at the end of 8 years?
Ali deposited $1,200 at the end of every month into an RRSP for 6 years. The...
Ali deposited $1,200 at the end of every month into an RRSP for 6 years. The interest rate earned was 5.50% compounded semi-annually for the first 3 years and changed to 5.75% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 6 years?
1) You plan to deposit $1,000 every month into an account paying 6% compounded monthly for...
1) You plan to deposit $1,000 every month into an account paying 6% compounded monthly for the next 5 years. How much will you accumulate over this five year period? 2) What is the future value interest factor of an annuity for #1? 3) If you plan to make annual payments instead of the monthly payments indicated in #1 above, how much will you have to deposit annually to have the same sum accumulated in five years as in #1...
Liz deposited $600 at the end of every month into an RRSP for 8 years. The...
Liz deposited $600 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.50% compounded semi-annually for the first 3 years and changed to 4.75% compounded monthly for the next 5 years. What was the accumulated value of the RRSP at the end of 8 years? Round to the nearest cent
FINANCIAL UNIT 1) Andre deposited $800 in an account at the end of every 6 month...
FINANCIAL UNIT 1) Andre deposited $800 in an account at the end of every 6 month period for 7 years. The account paid 9% compounded semi-annually. a) How much money will be in the account on the date of the last deposit? (4 marks) b) How much interest will Andre have earned over the term? (1 mark)
3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest,...
3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest, they found out that they may withdraw P350,000 yearly for 4 years starting at the end of 7 years when their child will be in college. How much is the fund deposited if the interest rate is 3% compounded annually? 4. A group of employees decided to invest a portion of their bonus. After 3 months from today,...
GENERAL ANNUITY Instruction: Solve the given situations. Show your solutions (5 points each). 1. Soledad decides...
GENERAL ANNUITY Instruction: Solve the given situations. Show your solutions (5 points each). 1. Soledad decides to save P2,700 at the end of every 6 months, which is the amount paid into her retirement plan by the company where she works. If she chooses an investment fund that guarantees 8% per year compounded quarterly, how much will she have in 10 years? 2. What is the present value of an annuity of P7,300 per semi-annual period for 7 years at...
Question 6 of 11 Brian deposited $900 at the end of every month into an RRSP...
Question 6 of 11 Brian deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned was 5.75% compounded semi-annually for the first 4 years and changed to 6.00% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 7 years? Round to the nearest cent Submit Question Next Question
Jean receives annuity payments at the end of every six months. If she deposits these payments in an account earning interest at 9% compounded monthly, what is the equivalent semi-annually compounded rate of interest? What sum of money must be deposited at the end of every 3 months into an account paying 6% compounded monthly to accumulate to $25,000 in 10 years? Irina deposited $150 in a savings account at the end of each month for 60 months. If the...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
Adrian deposited $1,400 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.50% compounded semi-annually for the first 3 years and changed to 4.75% compounded monthly for the next 5 years. What was the accumulated value of the RRSP at the end of 8 years?
FINANCIAL UNIT 1) Andre deposited $800 in an account at the end of every 6 month period for 7 years. The account paid 9% compounded semi-annually. a) How much money will be in the account on the date of the last deposit? (4 marks) b) How much interest will Andre have earned over the term? (1 mark)
3. Mr. and Mrs. Mercado decided to sell their house and to deposit the fund in a bank. After computing the interest, they found out that they may withdraw P350,000 yearly for 4 years starting at the end of 7 years when their child will be in college. How much is the fund deposited if the interest rate is 3% compounded annually? 4. A group of employees decided to invest a portion of their bonus. After 3 months from today,...
GENERAL ANNUITY Instruction: Solve the given situations. Show your solutions (5 points each). 1. Soledad decides to save P2,700 at the end of every 6 months, which is the amount paid into her retirement plan by the company where she works. If she chooses an investment fund that guarantees 8% per year compounded quarterly, how much will she have in 10 years? 2. What is the present value of an annuity of P7,300 per semi-annual period for 7 years at...
Question 6 of 11 Brian deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned was 5.75% compounded semi-annually for the first 4 years and changed to 6.00% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 7 years? Round to the nearest cent Submit Question Next Question
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