Amount of annuity expected $900 Payment Annually 4 years Time Interest rate 6% Present value (amount needed now to invest to receive annuity) $3,118.59 Check the correctness of annuity payment by completing the following table. Note: Round the answers the nearest cent. Year 1 Year 2 Year 3 Year 4 Opening balance $ 3,118.59 Interest Annuity Closing balance

Amount of annuity expected $900 Payment Annually 4 years Time Interest rate 6% Present value (amount needed now to invest to receive annuity) $3,118.59 Check the correctness of annuity payment by completing the following table. Note: Round the answers the nearest cent. Year 1 Year 2 Year 3 Year 4 Opening balance $ 3,118.59 Interest Annuity Closing balance

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 11E

See similar textbooks

Similar questions

For each of the following annuities, calculate the annuity payment. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Annuity Payment Future Value $ $ $ $ 25.450 1,090,000 928,000 145,000 Years 8 39 25 14 Interest Rate 4% 6 7
Amount of annuity expected $900 Payment Annually Time 4 years Interest rate 6% Present value (amount needed now to invest to receive annuity) $3,118.59 Check the correctness of annuity payment by completing the following table. Note: Round the answers the nearest cent. Opening balance ces Interest Annuity Closing balance Year 1 Year 2 Year 3 Year 4 3,118.59
Атount of Еach Deposit Rate Number Туре Атount Deposited per Year of Years of Annuity of Annuity 1. $1000 annually 6% 8 ordinary 2. $4500 semiannually 10% ordinary 3. $30,000 quarterly 8% 6. due 4. $2600 semiannually 5% 12 due
For each of the following annuities, calculate the present value. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Present Value Annuity Payment $ 2,750 $ 1,505 13,455 33,900 LA $ $ SA Years 7 9 16 30 Interest Rate 6 % 5 7 9
K Find the present value of the following perpetuity. Made At: end Perpetuity Payment $190 Payment Period 1 month Interest Rate 7.8% Conversion Period annually ETT The present value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
Calculate the amount of money deposited into an account as a perpetuity if it is used for $2300 wilthdrawals to be made al the end of every quarter when money arms 4% p.a. compounding semi-annually Celect one: O a 117300 O b. 115000 O c 230000 O d. 232300
For each of the following annuities, calculate the present value. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Present Value Annuity Payment $ $ $ $ 1,950 1,265 11,455 29,900 Years 7 9 16 24 Interest Rate 8% 7 9 11
Mallings Review View Help e Search AaBbCcDd AaBbCcDd AaBbC AaBb AaBbCcD 三加三三、、田、 1 Normal 1 No Spac. Heading 1 Heading 2 Heading 3 Paragraph Styles 1) 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.) $2,800 is deposited quarterly for 20 years at 5% per year FV = $ 梦 0 93
posit at the end of hat year 3? p5-19 Future value of an annuity For each case in the accompanying table, answer the questions that follow. Case Amount of annuity Interest rate Deposit period (years) A. $ 2,500 8% 10 S00 12 30,000 20 D. 11,500 8. E 6,000 30 a. Calculate the future value of the annuity, assuming that it is (1) An ordinary annuity. (2) An annuity due. h Compare your findings in parts a(1) and a(2). All else being identical, which type able? Explain why.
Calculate the principal and interest portions of the specified payment for this ordinary annuty, and give the balance remaining after that payment For full marks your answer should be rounded to the nearest cont Payment Principal Interest Balance Payment Frequency Term Number to Find Interest Payment Loan Principal Paid Paid After Payment 4. 0.00 0.00 0.00 $45,000.00 3.50 % compounded quarterly $3,250.97 Semi-annual 8 years
hey could you please Fill out the entire annuity chart # Payment and frequency (PMT) Time in years (n) Interest rate and compound frequency (I/Y) Present Value (PV) Future Value (FV) a. $500.00 per quarter (end) 5 years 5% compounded quarterly ______________ Not Applicable b. $241.63 per month (end) 69 payments 6 ¾ % compounded monthly Not Applicable _______________ c. $____________ per quarter 7 years and 3 months 3 % compounded semi-annually $8,000.00 Not Applicable d. $445.30 per month __________years 7.45 % compounded quarterly Not Applicable $24,788.40 e. $2,000 beginning of every six months 12 ½ years _______compounded quarterly $46,000 Not Applicable
Calculate the value of the annuity due without a table. Note: Do not round intermediate calculations. Round your answer to the nearest cent. $ Amount of payment 2,000 Payment payable Annually Years 3 Interest rate 6% Value of annuity due