A thirty-year annuity has end-value of the annuity if i = 3 %-of month payments. The first year the payments are each $ 120. In subsequent years each payment increases by $5 over what it was the previous year. Find the present(Round your answer to the nearest cent.)

Step 1:It is given that, A thirty-year annuity has end of month payment and the first-year payment…

Answered: A thirty-year annuity has end - value…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 15E

See similar textbooks

Similar questions

You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuity
If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?
A thirty-year annuity has end-of-month payments. The first year the payments are each $120. In subsequent years each payment increases by $5 over what it was the previous year. Find the present value of the annuity if i = 5%. (Round your answer to the nearest cent.)
(2) A thirty-year annuity has end-of-month payments. The first year the payments are each $120. In subsequent years each payment increases by $5 over what it was the previous year. Find the present value of the annuity if i = 3%.
The amount (future value) of an ordinary annuity is given. Find the periodic payment. (Round your final answer to two decimal places.) A = $18,500, and the annuity earns 6% annual interest compounded monthly for 10 years.
The present value of an annuity is given. Find the periodic payment. (Round your final answer to two decimal places.) Present value = $6000, and the interest rate is 7.3% compounded quarterly for 20 years.
What is the value of a 30-year annuity that pays $2500 a year? The annuity’s first payment will be received on year 11. Also, assume that the annual interest rate is 4 percent for years 1 through 10 and 5 percent hereafter.
A thirty-year annuity has end-of-month payments. The first year the payments are each $120. In subsequent years each payment increases by $15 over what it was the previous year. Find the present value of the annuity if i - 4%. (Round your answer to the nearest cent.) A continuously paying level annuity pays $20 each year for fifteen years. The force of interest is (4 + t)1, Find the present value of this annuity. (Round your answer to the nearest cent.) $31.16 Submit Answer An amortized loan is repaid with annual payments which start at $300 at the end of the first year and increase by $35 each year until a payment of $1,140 is made, after which they cease. If interest is 3% effective, find the amount of principal in the fourteenth payment. (Round your answer to the nearest cent.) $ 755.00
Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $200 is deposited monthly for 10 years at 7% per year in an account containing $6,000 at the start
Find the future value of the following annuity due. Then determine how much of this value is from contributions and how much is from interest $300 deposited at the beginning of each quarter for 13 years at 8.96% compounded quarterly The account will have a total of Safter 13 years. (Round to the nearest cent as needed.) How much of this is from contributions? $ (Round to the nearest cent as needed.) How much of this is from interest? $ (Round to the nearest cent as needed)
Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $550 is deposited monthly for 13 years at 5% per year
Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $1,200 is deposited quarterly for 20 years at 6% per year FV = $

SEE MORE QUESTIONS

Recommended textbooks for you

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

SEE MORE TEXTBOOKS

A thirty-year annuity has end - value of the annuity if i = 3 % - of month payments. The first year the payments are each $ 120. In subsequent years each payment increases by $5 over what it was the previous year. Find the present (Round your answer to the nearest cent.)