Since the birth of his granddaughter, 20 years ago, Jacob has deposited $100 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.50% compounded monthly for the first 11 years and 5.00% compounded monthly for the next 9 years. a. What was the accumulated value of the RESP at the end of 11 years?
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- Since the birth of his granddaughter, 20 years ago, Jason has deposited $200 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.25% compounded monthly for the first 7 years and 4.75% compounded monthly for the next 13 years. a. What was the accumulated value of the RESP at the end of 7 years? Round to the nearest cent b. What was the accumulated value of the RESP at the end of 20 years? Round to the nearest cent c. What was the amount of interest earned over the 20-year period? Round to the nearest centSince the birth of her granddaughter, 19 years ago, Holly has deposited $150 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.25% compounded monthly for the first 7 years and 3.75% compounded monthly for the next 12 years. a. What was the accumulated value of the RESP at the end of 7 years? Round to the nearest cent b. What was the accumulated value of the RESP at the end of 19 years? Round to the nearest cen c. What was the amount of interest earned over the 19-year period? Round to the nearest centSince the birth of his granddaughter, 18 years ago, Kristen has deposited $300 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.50% compounded monthly for the first 10 years and 4.00% compounded monthly for the next 8 years. a. What was the accumulated value of the RESP at the end of 10 years? Round to the nearest cent b. What was the accumulated value of the RESP at the end of 18 years? Round to the nearest cent c. What was the amount of interest earned over the 18-year period? Round to the nearest cent
- Since the birth of her granddaughter, 21 years ago, Kevin has deposited $150 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.75% compounded monthly for the first 10 years and 4.25% compounded monthly for the next 11 years. a. What was the accumulated value of the RESP at the end of 10 years? $0.00 Round to the nearest cent b. What was the accumulated value of the RESP at the end of 21 years? c. What was the amount of interest earned over the 21-year period? $0.00 Round to the nearest centSince the birth of her granddaughter, 15 years ago, Adrian has deposited $250 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.75% compounded monthly for the first 8 years and 4.50% compounded monthly for the next 7 years. a. What was the accumulated value of the RESP at the end of 8 years? $0.00 Round to the nearest cent b. What was the accumulated value of the RESP at the end of 15 years? $0.00 Round to the nearest cent c. What was the amount of interest earned over the 15-year period? $0.00 Round to the nearest centNew parents wish to save for their newborn's education and wish to have $40,000 at the end of 17 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 4.5% compounded annually? (Round your answers to two decimal places.) How much interest would they earn over the life of the account? Determine the value of the fund after 11 years. How much interest was earned during the 11th year?
- Since the birth of her daughter, 20 years ago, William has deposited $50 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 5.10% compounded monthly for the first 8 years and 4.00% compounded monthly for the next 12 years. a. What would be the accumulated value of the RESP at the end of 8 years? Round to the nearest cent b. What would be the accumulated value of the RESP at the end of 20 years? Round to the nearest cent c. What is the amount of interest earned during the 20 year period? Round to the nearest centNew parents wish to save for their newborn's education and wish to have $30,000 at the end of 19 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 4.6% compounded annually? (Round your answers to two decimal places.)How much interest would they earn over the life of the account?Determine the value of the fund after 8 years.How much interest was earned during the 8th year? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.For her daughter's university education, Carla Hackl has invested an inheritance in a fund paying 9.2% compounded quarterly. If ordinary annuity payments of $4750.00 per month are to be made out of the fund for 5 years and the annuity begins 7.75 years from now, how much was the inheritance
- Mrs. Quiton deposited Php 120,000.00 into a college fund at the beginning of every month for 10 years . The fund earns 9% annual interest , compounded monthly . She paid at the end of the month . How much is in the account right after the last deposit ? 1. What is the type of annuity illustrated in the given problem? A. Simple Annuity B. General Annuity C. Deferred Annuity D. Complex Annuity 2. Determine the present value of the deposit. A. Php 12,000.00 B. Php 30,000.00 C. Php 60,000.00 D. Php 75,000.00Since the birth of his daughter, 15 years ago, Natalie has deposited $180.00 at the beginning of every month into an RESP. The interest rate on the plan was 3.90% compounded monthly for the first 10 years and 5.00% compounded monthly for the next 5 years. a. Calculate the value of the fund today (the end of a 15-year term). b. How much of this is interest? Leah deposited $15,000 into a fund at the beginning of every quarter for 10 years. He then stopped making deposits into the fund and allowed the investment to grow for 3 more years. The fund was growing at 5.72% compounded monthly. a. What was the accumulated value of the fund at the end of year 10? b. What was the accumulated value of the fund at the end of year 13? c. What is the total amount of interest earned over the 13-year period?New parents wish to save for thier newborn's education and wish to have $36,000 at the end of 18 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 5.6% compounded annually? (round your answer to two decimal places). How much interst would they earn over the life of the account? Determine the value of the fund after 12 years.