Sarafina is making monthly payments into an annuity. She wants to have $900 in the fund to buy a new convection range in six months, and the account pays 4.8% annual interest. What are her monthly payments to the account? To have $900 in the fund in six months, her monthly payments must be $ (Round up to the nearest cent.)
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- Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity?Sarafina is making monthly payments into an annuity. She wants to have $600 in the fund to buy a new convection range in nine months, and the account pays 7.2% annual interest. What are her monthly payments to the account? To have $600 in the fund in nine months, her monthly payments must be $. (Round up to the nearest cent.) jes jes Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Creck Answer To see what to study next, go to your Study Plan. 99Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity? (Show solution)
- To help out with her retirement savings, Kaitlin invests in an ordinary annuity that earns 4.8% interest, compounded monthly. Payments will be made at the end of each month. How much money does she need to pay into the annuity each month for the annuity to have a total value of $97,000 after 18 years?Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity? (Please explain your answer, not in excel, please...I already asked this question 4 times)Kavita determines that to receive an annuity of $6900 each quarter for 5 years at 6.5% per year compounded quarterly, she must deposit $117 016.64. How much must Kavita deposit for an annuity that pays twice as much, $13 800, each quarter? a) She must deposit exactly twice as much. b) She must deposit exactly half as much. C) She must deposit more than twice as much. d) She must deposit less than half as much.
- Jane took out a loan from the bank today for X. She plans to repay this loan by making payments of $520.00 per month for a certain amount of time. If the interest rate on the loan is 1.12 percent per month, she makes her first $520.00 payment later today, and she makes her final monthly payment of $520.00 in 7 months, then what is X, the amount of the loan? O An amount less than $3,501.00 or an anmount greater than $4,238.00 O An amount equal to or greater than $3,501.00 but less than $3,739.00 O An amount equal to or greater than $3,739.00 but less than $3,980.00 O An amount equal to or greater than $3,980.00 but less than $4,081.00 O An amount equal to or greater than $4,081.00 but less than $4,238.00Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity? (Kindly explain the solution please, I already asked this question 6times and stilk can't understand their answer)Cheryl Wilcox is planning for her retirement, so she is setting up a payout annuity with her bank. She wishes to receive a payout of $1,200 per month for twenty years. (Round your answers to the nearest cent.) (a) How large a monthly payment must Cheryl Wilcox make if she saves for her payout annuity with an ordinary annuity, which she sets up thirty years before her retirement? (The two annuities pay the same interest rate of 8% compounded monthly.) (b) Find the total amount that Cheryl will pay into her ordinary annuity. Compare it with the total amount that she will receive from her payout annuity. Cheryl receives $ _____ more than she paid.
- Megan takes out a car loan for $13,000. She intends to make monthly payments for 5 years to pay off her loan. If the bank charges her an annual interest rate of 4.2% computed monthly on the loan balance, how much will her monthly payments be?Latoya wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.8% interest, compounded monthly. Payments will be made at the end of each month. How much money will she need to pay into the annuity each month for the annuity to have a total value of $6000 after 5 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.Kaitlin wants to save money to purchase a car. She buys an annuity with yearly payments that earn 2.8% interest, compounded annually. Payments will be made at the end of each year. Find the total value of the annuity in 5 years if each yearly payment is $3797. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.