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30 Answered Questions for the topic Annuity

04/12/20

What is present value of annuity?

What is the present value (PV) of a 12-year lease arrangement with an interest rate of 7.5 percent that requires annual payments of $4,250 per year with the first payment being due now?I got... more

12/03/19

Business mathematics

$200 was saved every month for four years in an account that pays 6% compounded monthly.find the accumulated value if the interest rate was changed to 8% compounded monthly after one year

07/13/19

Interest and Annuity

A man starts working a day after he celebrates his 23rd birthday. He wants to have a fund that could, from the date of his retirement at age 58, give him a benefit payment of $6000 at the end of... more

03/08/19

Business pre calc 147 annuity

Emma and Diego plan to send their son to university. To pay for this they will contribute 8 equal yearly payments to an account bearing interest at the APR of 2.3%, compounded annually. Six years... more

12/22/17

Annuity word problem

 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... more

12/19/17

Annuity question

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%... more

11/05/17

Mortgage present value

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.

11/05/17

Annuity Account Precalculus Future Value

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... more

05/22/17

Annuity Help - Financial Math

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... more

03/24/17

I'm confused with these type of problems

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... more

03/24/17

Help, How would you set this up?

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... more

03/24/17

How would you do this problem?

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... more

01/17/17

Eunice wants to have 500,000 on 12/31/2020.

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 the annual... more

12/29/16

Value of an Annuity

Suppose that an employee contributes $100 to an annuity at the end of each month for 25 yrs. If the annuity earns 7%,a. Determine the value of the annuity at the end of the 25-yr period.b. How much... more

11/26/16

Kindly solve out these 2 questions

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.2=  Suppose... more

07/21/16

Algebra help, Income earned on an IRA investment help?

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... more

07/21/16

Algebra help, Income earned on an IRA investment help?

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... more

07/21/16

Algebra help, Income earned on an IRA investment help?

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.... more

05/18/16

Please Help

A mortgage of 1.2% interest compounded monthly with a monthly payment of $600 has an unpaid balance of $6753 after 100 months. Find the unpaid balance after 101 months.

11/16/15

Jacob has just agreed to take a loan that will require him to make payments of $110 at the end of each month for the next six years. If interest on the loan is

Jacob has just agreed to take a loan that will require him to make payments of $110 at the end of each month for the next six years. If interest on the loan is calculated at a rate of 6% compounded... more

10/05/15

The amount of an ordinary $7500.00 annuity for 3 years at 12 percent compounded quarterly is (1 point)

The amount of an ordinary $7500.00 annuity for 3 years at 12 percent compounded quarterly is (1 point)

04/23/15

Mutual fund/ Annuity

You decide to contribute to a mutual fund that averages 4.6% return per year. If you contribute $550 quarterly. Round all answers to the nearest cent as needed.   a) How much will be in the... more
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