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...
$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
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...
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...
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...
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%...
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.
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...
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...
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...
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...
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...
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...
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...
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?
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.
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...