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In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the
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- 11. For each annuity, calculate the future value and the interest earned. Rate of Compound Regular Interest Compounding Payment per Year Period Time a) $2500 per year 7.6% annually 12 years b) $500 every 6 months 7.2% semi-annually 9.5 years c) $2500 per quarter 4.3% quarterly 3 yearsarrow_forwardFind the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Payment Interval Present Periodic Interest Compounding Period Value Payment Rate $9300 $355 month 7% quarterly The term of the annuity is year(s) and month(s).arrow_forwardAn annuity-immediate has 28 payments of $200 per period. The effective rate of interest per period is 6% for the first 12 periods and 3% for the following 16 periods. (A) Find the accumulated value of the annuity. Round your answer to 2 decimal places. (B) Find the present value of the annuity. Round your answer to 2 decimal places.arrow_forward
- The compounding periods and the payment periods are the same for an annuity and for an amortization. Determine the present value of the annuity that will pay the given periodic payments. (Round your final answer to two decimal places.) Periodic payments of $2400 annually for 13 years. The interest is 4% compounded annually.arrow_forwardAn annuity-due makes payments of $15 every other year, with the first payment beginning immediately. The annuity-due makes ten payments. The nominal annual interest rate compounded semiannually is 5%. Calculate the present value of the annuity due. a. 100.0958 O b. 93.2775 O c. 66.7310 d. 124.3700 O e. 133.4620arrow_forwardFind the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Present Periodic Payment Interval Interest Compounding Period Value Payment Rate $10,300 $330 month 3% semi-annually The term of the annuity is year(s) and month(s).arrow_forward
- Find the value of the annuity at the end of the indicated number of years. Assume that the interest is compounded with the same frequency as the deposits. (Round your answer to the nearest cent.)$ Amount of Deposit m Frequency n Rate r Time t $250 semiannually 4% 30 yrarrow_forwardDetermine the nominal annual rate of interest of the following ordinary general annuity. Term Conversion Period Present Value Periodic Payment Payment Interval $4600 $787.91 1 year 9 years monthly The nominal annual rate of interest is (Round to two decimal places as needed.) % compounded monthly.arrow_forwardFind the present value of the ordinary annuity. (Round your answer to the nearest cent.) Amount of Deposit Frequency Rate Time t $100 quarterly 6% 25 yr %24arrow_forward
- Complete the ordinary annuity. Amount of payment = $12,100 Payment Payable = Semiannually Years = 9 Interest Rate = 6%arrow_forwardFind the value of the annuity at the end of the indicated number of years. Assume that the interest is compounded with the same frequency as the deposits. (Round your answer to the nearest cent.)$ Amount of Deposit m Frequency n Rate r Time t $900 annually 1% 20 yrarrow_forward
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