Mr. Glen Secundo won a lottery paying P1,400,000 at the beginning of each year for 15 years. Find the amount must set aside today to satisfy this annuity at 13% compounded annually.
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- June Stickney purchased an annuity on January 1, 2019, which, at a 12% annual rate, would yield $6,000 each June 30 and December 31 for the next 6 years. What was the cost of the annuity to Stickney? Round your answer to two decimal places. $ fill in the blank 4 Five equal annual contributions are to be made to a fund, with the first deposit on December 31, 2019. Determine the equal contributions that, if invested at 10% compounded annually, will produce a fund of $30,000 on December 31, 2024. Round your answer to two decimal places. $ fill in the blank 5 Beginning on December 31, 2020, 6 equal annual withdrawals are to be made. Determine the equal annual withdrawals if $11,000 is invested at 10% interest compounded annually on December 31, 2019. Round your answer to two decimal places. $ fill in the blank 6At age 60, a man established a trust fund of R20 000 which will pay his family a regular amount at the end of each month for 12 years after his death. If he dies at age 65, what monthly sum will the family receive if the fund earns 3% p.a. compounded monthly and if the first payment will be made 1 month after his death?Mr. Larsen's will directed that $209.000 be invested to establish a perpetuity making payments at the end of each month to his wife for as long as she lives and subsequently to the Canadian Heart Foundation. What will the payments be if the funds can be invested to eam 6.0% compounded monthly? Monthly payments will be
- Fifteen years ago, Mr. Fairhold paid $40,000 for a single-premium annuity contract. This year, he began receiving a $1,100 monthly payment that will continue for his life. On the basis of his age, he can expect to receive $249,600. Assume that on January 1, 2026, Mr. Fairhold's unrecovered investment in the annuity is $1,650. Required: a. How much of his total 2026 annuity payments ($13,200) are taxable? b. Assume that he dies in February after receiving only one $1,100 payment. What are the tax consequences on his final Form 1040?Ryan inherited an annuity worth $3,280.16 from his uncle. The annuity will pay him 5 equal payments of $800 at the end of each year. The annuity fund is offering a return rate ofTom has decided to invest $400 quarterly for 4 years in an ordinary annuity a 8%. As his financial adviser calculate for Tom the total cash value of the annuity at the end of year 4.
- Strahd bought a 20-year annuity-immediate with payment size 350 at an annual effective rate of 4%. Just after receiving the eighth payment, Strahd’s life forever changed and he sold the remainder of the annuity, reinvesting the proceeds in a level-payment perpetuityimmediate. What is the payment size K of this perpetuity?Susan won the lottery today which will pay an annual perpetuity of X, with the first payment occurring five years from today. The perpetuity has a present value of 100,000 based on an annual effective interest rate of 1% for the first ten years and 5% for all years thereafter. Calculate X. A. 4,100 B. 4,224 C. 4,357 D. 4,401 E. 5,696Mr. King is retired and wishes to set up a 10-year annuity with quarterly payments of $8000 for the care of his disabled son. Find the amount he should deposit today at 6% interest compounded quarterly.
- On Sarah’s 18th birthday, she creates a trust fund to pay her a sequence of nine semiannual payments of 15,000; the first is due on her 23rd birthday. If the fund earns 6.5% compounded semiannually, find the present value of the deferred annuity.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 inheritanceWill Smith will receive $80,000 5 years from now, from a trust fund established by his father. Assuming the appropriate interest rate for discounting is 12% (compounded semiannually), what is the present value of this amount today?