Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $90,000 in a fund paying 4% per year, with monthly payments for 10 years PMT = $______
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Find the periodic payments PMT necessary to accumulate the given amount in an
$90,000 in a fund paying 4% per year, with monthly payments for 10 years
PMT = $______
Step by step
Solved in 3 steps
- 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 annuityFind the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $70,000 in a fund paying 2% per year, with monthly payments for 10 years PMT = $ ___Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $50,000 in a fund paying 3% per year, with quarterly payments for 20 years PMT= $ _______ ??
- Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $10,000 in a fund paying 6% per year, with monthly payments for 10 yearsFind the periodic payments PMT necessary to accomulate the given account in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $20,000 in a fund paying 2% per year, with quarterly payments for 20 years. PMT = $Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $55,000 in a fund paying 2% per year, with quarterly payments for 20 years
- Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $30,000 in a fund paying 5% per year, with monthly payments for 5 years, if the fund contains $10,000 at the start PMT = $ please round it to the nearest centFind the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $30,000 in a fund paying 5% per year, with monthly payments for 5 years, if the fund contains $10,000 at the start PMT = $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.) $300 is deposited monthly for 10 years at 5% per year in an account containing $9,000 at the start FV = $ Need Help? Read It Watch It
- Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $70,000 in a fund paying 3% per year, with monthly payments for 10 years, if the fund contains $50,000 at the startFind 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.) $2,200 is deposited quarterly for 20 years at 3% per year FV = $ Need Help? Read It Watch It Submit AnswerFind 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.) $170 deposited monthly for 20 years at 3% per year in an account containing $11,000 at the start Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $90,000 in a fund paying 6% per year, with monthly payments for 5 years