Juan purchases an annuity for $4400 that will make 16 annual payments, the first to come in one year. If the effective rate of interest is 10.4%, how much is each annual payment?
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- 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 annuityKaren deposits 700 each month into an annuity that pays 12% annual interest at the end of each year. How much will she have in this account at the end of 2 years? FUTURE VALUE OF ANNUITY DUE.Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity?
- (1 point) Juan purchases an annuity for $3100 that will make 21 annual payments, the first to come in one year. If the effective rate of interest is 9.9%, how much is each annual payment? Payment = $Juan purchases an annuity for $3720 that will make 20 annual payments, the first to come in one year. If the effective rate of interest is 10.9%, how much is each annual payment? Payment = $Jean-Rene wants to make a lump-sum deposit today such that at the end of every three months for the next five years he can receive a payment starting at $2,500 and increasing by 1% each time thereafter. At the end of the term, an additional lump-sum payment of $10,000 is required. If the annuity can earn 8.75% compounded semi-annually, what lump sum should he deposit today? Using financial Calculator.
- Bob purchases an annuity that will pay him $10,000 a year for the next 15 years starting a year from now. Assuming a 5% annual interest rate, what is the value of this annuity? Choose the closes. a) $150,000 b) $103,797 c) $124,622 d) $77,217Karen deposits 300 each month into an annuity that pays 8% annual interest at the end of each year. How much money will she have in this account at the end of 4 years? (Future value of annuity due)Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity? (Show solution)
- Delia purchases an annuity that will pay her $10,000 per year for the next 10 years starting next year. Assuming a rate of 6%, what is the value of the annuity. Choose the closest. a) $106,000 b) $131,808 c) $159,374 d) $171,569An annuity offers $1,000 for 10 years. If you can earn 12 percent annually on your funds, what is the maximum amount you should pay for this annuity?A relative wills you an annuity paying $1000 per quarter for the next 4 years. If money is worth 12% compounded quarterly, what is the present value of this annuity? Round your answer to two digits!