Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a lump payment today of $59,470.17, the firm will pay the retiring professor $9,200 per year for 25 years. What is the interest rate on the annuity? (Do not round intermediate calculations. Round your answer to 2 decimal places.) %
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- Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $81,000 at age 65, the firm will pay the retiring professor $625 a month until death. a. If the professor’s remaining life expectancy is 15 years, what is the monthly interest rate on this annuity? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) b. What is the effective annual interest rate? (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. If the monthly interest rate is 0.75%, what monthly annuity payment can the firm offer to the retiring professor? (Do not round intermediate calculations. Round your answer to 2 decimal places.)Professor's Annulty Corp. offers a lifetime annuity to retiring professors. For a lump payment today of $101,926.9, the firm will pay the retiring professor $13,200 per year for 10 years. What is the interest rate on the annulty? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) 0%Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a lump payment today of $96,530.82, the firm will pay the retiring professor a set amount of money per year for 15 years. If the interest rate on the annuity is 5%, then what are the annual payments? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
- Professor's Annuity Corporation offers a lifetime annuity to retiring professors. For a payment of $87,000 at age 65, the firm will pay the retiring professor $775 a month until his death. a. If the professor's remaining life expectancy is 15 years, what is the monthly interest rate on this annuity? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. b. What is the effective annual interest rate? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. c. If the monthly interest rate is 0.75%, what monthly annuity payment can the firm offer to the retiring professor? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a. Monthly rate on annuity b. Effective annual rate c. Monthly annuity payment % %Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $76,000 at age 65, the firm will pay the retiring professor $500 a month until death. a. If the professor’s remaining life expectancy is 20 years, what is the monthly interest rate on this annuity? b. What is the effective annual interest rate? c. If the monthly interest rate is 1.00%, what monthly annuity payment can the firm offer to the retiring professor?Give typing answer with explanation and conclusion to all parts If $387674 is used to purchase an annuity earning 5.5% compounded monthly and paying $3102 at the end of each month, what will be the term of the annuity? Include the final, smaller annuity payment in the total. (Just state total months as a number, not years and months) What is N? What is I/Y? What is C/Y? What is P/Y? What is PV? What is PMT? What is FV?
- Professor’s Annuity Corporation offers a lifetime annuity to retiring professors. For a payment of $78,000 at age 65, the firm will pay the retiring professor $550 a month until his death. If the professor’s remaining life expectancy is 20 years, what is the monthly interest rate on this annuity? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. What is the effective annual interest rate? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. If the monthly interest rate is 0.50%, what monthly annuity payment can the firm offer to the retiring professor? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Don't use ExcelSuppose a friend tells you about an annuity that pays 6% annual interest, compounded semi-annually. You invest in the annuity contributing $10,000 semiannually for 6 years. What is the value of the annuity after your last investment? Enter your answer rounded to the nearest hundred dollars and omit the dollar sign and comma (For example, $42,570.21should be entered as 42600.)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.) $200 is deposited monthly for 10 years at 6% per year in an account containing $9,000 at the start FV = $ 49150 Need Help? Read It Watch It Submit Answer
- Suppose you invest in an annuity that pays 6% interest, compounded annually. You contribute $4,500 each year for 10 years, what is the value of the annuity at the end of 10 years? Enter your answer rounded to the nearest hundred dollars. Omit the dollar sign and comma ($42,570.21 should be entered as 42600.)13. Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $80,000 at age 65, the firm will pay the retiring professor $600 a month until death. a. If the professor's remaining life expectancy is 20 years, what is the monthly rate on this annuity? (Round your answer to 4 decimal places.) The monthly rate on the annuity % What is the effective annual rate? (Round your answer to 3 decimal places.) The effective annual rate % What is the APR? (Round your answer to 4 decimal places.) APR % b. If the monthly interest rate is .5%, what monthly annuity payment can the firm offer to the retiring professor? (Round your answer to the nearest cent.) PMT $Find the future value of each annuity due. Then determine how much of this value is from contributions and how much is from interest. Payments of $1000 made at the beginning of each semiannual period for 7 years at 8.49 % compounded semiannually The future value of the annuity due is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The amount from contributions is $ The amount from interest is $ (Do not round until the final answer. Then round to the nearest cent as needed.)