If no other specification is made, assume the annuity is an ordinary annuity (with deposits/payments made at the end of each compounding period).

If no other specification is made, assume the annuity is an ordinary annuity (with deposits/payments made at the end of each compounding period).

Carol wants to retire at age 63. She would like to draw $3,200 each month and estimates that she will live to be 88 years old. Carol can earn nine percent interest on her investment before retirement...

Economics

Art wants to know how much he'll have to invest today to receive an annuity of $8,000 for three years if interest is earned at 10% annually. He'll make all of his withdrawals at the end of each year...

Jason is 25 yrs has started working full time. He has started to put money aside for his retirement at age 63.he has calculated that he can afford $75 a month in an account that earns 6.5% compounded...

economics please show your solution

You just graduated from college and want to set up a fund for your future needs. You decide to invest $150 weekly in an annuity account, at an annual rate of 8.5% compounded weekly. If you are now...

You obtain a mortgage of $184,000 for a house at an annual interest rate of 5.2% to be paid off in 15 years. find what your monthly payments will be if interest is also charged monthly.

Find the future value

An ad in an electronics store window reads, “Big-screen television: Was $3270: now $2890, or $500 down and $122.81 for 24 months on approved credit.” What is the annual interest rate, compounded monthly,...

Matt is saving to buy a new motorcycle. If he deposits $40 at the end of each month in an account that pays an annual interest rate of 4.5%, how much will he have in 30 months? Assume that the compounding...

Hector and Yolanda want to establish a fund for their grandson's college education. What lump sum must they deposit at a 6.7% annual interest rate, compounded monthly, in order to have $30,000 in...

Deep's property tax is $626.78 and is due April 15. He does not pay until July 6. The county adds a penalty of 7.3% simple interest on unpaid tax. Find the penalty Deep will pay. (Assume there are...

on your friend's 12th birthday, her parents began contributing $60 per month in an increasing annuity that pays 7% annual interest, compounding monthly. Determine the value of her college fund when...

Eunice wants to have 500,000 on 12/31/2020. Eunice will deposit 100,000 on january 1,2016 and will make annual deposit every december 31 starting december 31,2016. Int. Rate:10% 1. What is...

Suppose $50 is placed in a savings account at the end of each month for four years. If no further deposits are made, (a) how much is in the account after six years, and (b) how much of this amount...

Q. 1= If you want to get a loan but can only afford to pay Rs.13, 000 per month. How much can you borrow (loan amount) if the interest rate is 5% annually for 30 years? Q...

your boss spends $20 a month on lottery tickets. After 15 years, her total winnings are $25000. Suppose that she had invested the money she spent on lottery tickets monthly into an annuity that earned...

I need some help on setting up this problem, and how to find the formula to get the correct answer.. this sounds like a different language like where do I start? Can I put this in a table or a chart...

I need some help on setting up this problem, and how to find the formula to get the correct answer.. Here it is: A retiree needs a yearly income of $13,o00 from her IRA to help fund her retirement...