A personal account earmarked as a retirement supplement contains $242,400. Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $4500 at the end of each quarter. How long will it be until the account balance is $0? (Roundyour answer UP to the nearest quarter.)quarters Juanita Domingo is starting college in three months. Her parents want to establish a college trust for her today which will provide 16 payments throughout the next four years as well as the cost of a graduation trip when she completes college four years from now. They wanther to be able to make withdrawals of $2,500 at the end of every quarter for the next four years. Additionally, she will withdraw an extra $5,000 on the same day as the last regular $2,500 withdrawal. If money is worth 6.1%, compounded quarterly, how much must bedeposited now to provide for this trust? (Round your answer to the nearest cent.)$

You have asked multiple unrelated questions. They are not sub parts. Hence, only the first question…

A personal account earmarked as a retirement supplement contains $242,400. Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $4500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.) quarters

A personal account earmarked as a retirement supplement contains $242,400. Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $4500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.) quarters

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 33P

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