--- ...I.I MY NOTES ASK YOUR TEACHER A state lottery commission pays the winner of the Million Dollar lottery 40 installments of $25,000/year. The commission makes the first payment of $25,000 immediately and the other n = 39 payments at the end of each of the next 39 years. Assume that the balance on deposit with the bank earns interest at the rate of 4%/year compounded yearly. Determine the present value (in dollars) of the 39 future payments. (Round your answer to the nearest cent.) Determine how much money (in dollars) the commission should have in the bank initially to guarantee the payments. (Round your answer to the nearest cent.)

Alp Bilgin deposits $33.000 in asaving account that pays 9%interest compounded monthly.Four years later, he deposits $20.000. Three years after the20.000 deposit, he makesanother deposit in the amount of$16.500. Six years after the $16.500, half of the accumulatedfunds are transferred to a fundthat pays 12% interestcompounded quarterly. Howmuch money will be in accounteight years after the transfer?

Mike wants to donate $5,000,000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of 4.57% p.a. compounded half-yearly (j2=4.57% p.a.) and the first scholarship will be first awarded 3.5 years after the date of the donation. (a) What is the amount of the annual scholarship (rounded to two decimal places)? Question 9 Answer a. 127913.37 b. 255507.69 c. 260410.57 d. 258749.57 Mike wants to donate $5,000,000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of 4.57% p.a. compounded half-yearly (j2=4.57% p.a.) and the first scholarship will be first awarded 3.5 years after the date of the donation. (b) Assume that two years after the donation, Mike needs to withdraw $1,000,000 from the fund and use the remaining amount to provide an annual scholarship in perpetuity. The time of the first scholarship will be unchanged (3.5 years after the date of the donation). What is the new annual…

4. John makes deposits of 1,100 at the end of each year for n years into a fund. At time n, he uses the accumulated value of the fund to purchase an annuity immediate that makes payments of 30,102.71 at the end of each year for 15 years. The annual effective interest rate is 13%. Calculate n. a. n = 24 b. n = 26 n = 28 d. n = 20 e. n = 18 نه ن ن ف ق