Calculate the amount of money Christine had to deposit in an investment fund growin at an interest rate of 3.00 % compounded annually, to provide her daughter with $15,500 at the end of every year, for 3 years, throughout undergraduate studies.
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- Calculate the amount of money Dylan had to deposit in an investment fund growing at an interest rate of 2.00% compounded annually, to provide her daughter with $11,000 at the end of every year, for 2 years, throughout undergraduate studies. Round to the nearest centCalculate the amount of money William had to deposit in an investment fund growing at an interest rate of 2.50% compounded annually, to provide her daughter with $15,000 at the end of every year, for 4 years, throughout undergraduate studies. Round to the nearest centCalculate the amount of money Zhang had to deposit in an investment fund growing at an interest rate of 4.50% compounded annually, to provide his daughter with $13,000 at the end of every year, for 3 years, throughout undergraduate studies.
- Accounting 1:Kaitlyn wants to set up a fund for his son's education such that he could withdraw $2,050.00 at the beginning of every 3 months for the next 2 years. If the fund can earn 2.20% compounded semi-annually, what amount could he deposit today to provide the payment?Calculate the future value of end-of-month payments of $4,000 made at 3.57% compounded quarterly for 4 years. Calculate the amount of money Miguel had to deposit in an investment fund growing at an interest rate of 2.50% compounded annually, to provide her daughter with $13,000 at the end of every year, for 3 years, throughout undergraduate studies Dylan deposits $350 at the end of every month for 2 years and 4 months in a retirement fund at 4.64% compounded quarterly. a. What type of annuity is this? Ordinary simple annuity Ordinary general annuity Simple annuity due General annuity due b. How many payments are there in this annuity?On the day your daughter is born, you deposit $1,000 in a college savings account that earns 8% compounded annually. On each of her birthdays thereafter, up to and including her 18th birthday, you deposit an additional $1,000. How much money is in the college account the day after her 18th birthday? a. $37,450 b. $38,950 c. $41,450 d. $46,800.
- A new mother would like to start a college fund for her newborn daughter. She makes quarterly deposits of $400 into a college fund that earns 6% compounded quarterly for the next 18 years. How much will her daughter have available in her college fund when she turns 18? $ Round to the nearest dollar What is total amount the mother deposited into the fund over the 18 years? $ Round to the nearest dollar How much interest was earned over the 18 years? $ Use the WHOLE DOLLAR AMOUNTS you entered in as your answers above. 4 Round to the nearest dollarJuanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $2500, with the first withdrawal 3 months from now. If money is worth 6.1%, compounded quarterly, how much must be deposited now to provide for this trust?To create a college fund, a parent makes a sequence of 20 yearly deposits of $4000 each year in a saving account, on which interest is compounded annually at 2.8%. Find the amount of annuity.
- New parents wish to save for their newborn's education and wish to have $35,000 at the end of 16 years. How much should the parents place at the end of each year into a savings account that eans an annual rate of 6% compounded annually? (Round your answers to two decimal places.) $ How much interest would they earn over the life of the account? $ Determine the value of the fund after 12 years. %24New parents wish to save for thier newborn's education and wish to have $36,000 at the end of 18 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 5.6% compounded annually? (round your answer to two decimal places). How much interst would they earn over the life of the account? Determine the value of the fund after 12 years.Tom up a savings fund for his son's education so that he would be able to withdraw $1,550 at the beginning of every month for the next 6 years. The fund earns 4.98% compounded quarterly. a. What amount should he deposit today to allow for the $1,550 periodic withdrawals? b.How much interest would he earn in this investment? Blake invested $1,800 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at a rate of 4.40% compounded semi-annually and for the next 3 years it earned interest at a rate of 6.40% compounded semi-annually. a. Calculate the accumulated value of his investment after the first 8 years. b. Calculate the accumulated value of his investment at the end of 11 years. c. Calculate the amount of interest earned from the investment. Blake invested $1,800 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at a rate of 4.40% compounded semi-annually and for the…