Mr. Nowak has contributed $111.00 at the end of each six months into an RRSP paying 3% per annum compounded quarterly. How much will Mr. Nowak have in the RRSP after 20 years? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) How much of the above amount is interest? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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- A man deposits $10,000 at the beginning of each year for 15 years in an account paying 6% compounded annually. He then puts the total amount on deposit in another account paying 7% compounded semiannually for another 11 years. Find the final amount on deposit after the entire 26-year period. He will have a final amount of $ after the entire 26-year period. (Simplify your answer. Round to the nearest cent as needed.)Abe Washington sold some property in Oregon and will receive $40,000 in 5 equal payments of $8,000 at the end of each year from today. What is the present value of these future payments at an interest rate of 9% compounded annually? Round answer to the nearest dollar.Find the future value of each annuity due. Then determine how much of this value is from contributions and how much is from interest. Payments of $1000 made at the beginning of each semiannual period for 7 years at 8.49 % compounded semiannually The future value of the annuity due is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The amount from contributions is $ The amount from interest is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
- Reese contributed $250.00 every month into an RRSP for 5 years. What nominal annual rate of interest will the RRSP earn if the balance in Reese's account just after she made her last contribution was $16,750.00? The nominal annual rate of interest is % compounded monthly. (Round to two decimal places as needed.) CAsa has invested money from the settlement of an insurance claim. She plans to withdraw $14,080 from her savings account at the end of each year for five years. If the payments are deferred for four years and interest is 8% compounded quarterly, what was the amount of the insurance settlement? The insurance settlement was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)Asa has invested money from the settlement of an insurance claim. She plans to withdraw $960 from her savings account at the end of each month for five years. If the payments are deferred for ten years and interest is 7% compounded annually, what was the amount of the insurance settlement? The insurance settlement was (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
- Amishi deposited $800, at the end of each six months for 19 years in a savings account. If the account paid 8% interest, compounded semiannually, use the appropriate formula to find the future value of her account. (Round your answer to the nearest cent.) $ _____Mr. Espinoza's debt of P160,000 is amortized by making equal payments at the end of every three months for six years with 4.3% interest rate compounded quarterly. How much is the quarterly payment? Construct an amortization schedule. How much will Mr. Espinoza pay after the term? Do you think that the total amount paid is fair given the total interest and the term of the annuity? Why or why not? Explain in your own words.At the beginning of each period for 11 years, Merl Agnes invests $410 semiannually at 4%. What is the cash value of this annuity due at the end of year 11? (Do not round intermediate calculations. Round your answer to the nearest cent.
- Suppose you are a beneficiary designated to immediately receive P8674 each year for 10 years, earning an annual interest rate of 6%. The future value of the stream of income payments is Round your answer to 2 decimal places. Add your answerAsa has invested money from the settlement of an insurance claim. She plans to withdraw $1,560 from her savings account at the end of each quarter for three years. If the payments are deferred for ten years and interest is 5% compounded monthly, what was the amount of the insurance settlement? The insurance settlement was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Mr. Maillet has contributed $170.00 at the end of each month into an RRSP paying 4% per annum compounded. How much will Mr. Maillet have in the RRSP after 15 years? How much of the above amount is interest?