Raj deposits 25 into a fund at the end of each month for 2 years. The total amount of interest earned by the fund during the last month of year 2 is 5. Calculate the accumulated amount in Raj's account at the end of year 2. (A) $ 670 (B) $ 655 (C) $ 650 (D) $ 660 (E) $ 664
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- Bill makes deposits of 2,700 at the end of each year for n years into a fund. At time n, he uses the accumulated value of the fund to purchase an annuity immediate that makes payments of 197,909.20 at the end of each year for 5 years. The annual effective interest rate is 15%. Calculate n. O a. 26 O b. 29 O c. 28 O d. 24 O e. 221. Amy made semiannual deposits of $3,100 at the beginning of every every six months into a fund earning 6.8% compounded semiannually for nine years. No further deposits were made. a. How much will be in the account 15 years after the first deposit? _____________ b. How much in total was deposited? ______________ c. How much interest will Amy earn? _____________ 2. What is the principal invested at 4.75% compounded semiannually from which monthly withdrawals of $240 can be made at the beginning of each month for 15 years? _________________On January 1, 2018, you deposited $5,500 in a savings account. The account will earn 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 7 years? 2. What is the total interest for the 7 years? 3. How much interest revenue did the fund earn in 2018 and in 2019? Show Transcribed Text
- At the beginning of each year, Jerome invests $1,400 semiannually at 8% for nine years. Using the tables found in the textbook, determine the cash value of the annuity due at the end of the ninth year. A. $37,939.86 B. $37,339.68 C. $37,399.68 D. $38,739.68Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. $95,037.72$103,940.74 $112,256.00$113,556.00Jeff deposits 10 into a fund today and 20 fifteen years later. Interest for the firstten years is credited at a nominal discount rate of d compounded quarterly, and thereafterat a nominal interest rate of 6% compounded semiannually. The accumulated balance in thefund at the end of 30 years is 100. Calculate d.
- Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. A. $73,441.24 B. $80,416.53 C. $86,849.86 D. $87,949.86(b) Daniel deposits $5,000 into a fund at the end of each month in the coming five years. The fund earns 6% p.a. compounded monthly. (i) Calculate the amount in the fund at the end of the fifth year. (ii) Starting from the sixth year, $X is deducted from the fund for donation to charity at the end of each month continuing forever. Find X.carlos Contributed equal deposit at the end of every month for four years into an investment fund he then decided to stop making payments and left the money in the fund to grow for another three years the fan was earning 4.81% compounded monthly for the entire period and then accumulated amount at the end of the term was $80,000 a. calculate the amount in the fund at the end of the four years. b. calculate the size of the periodic deposit into the fund.
- Shane contributed $2,250 at the end of every 3 months into an RRSP fund earning 2.41% compounded quarterly for 11 years. a. What is the future value of the fund at the end of 11 years? b. What is the amount of interest earned over this period?9. Raj deposits 100 into a fund at the end of each 2-year period for 20 years. The fund pays interest at an annual effective rate of i. The total amount of interest earned by the fund during the 19th and 20th years is 250. Calculate the accumulated amount in Raj's account at the end of year 20. A. 1925 B. 1950 C. 1975 D. 2000 E. 2025jenna mcintosh made end of month deposits of $895 into a retirement fund at 7.50% compounded monthly for 15 years. after 15 years the balance in the fund was converted into a retirement income fund from which jenna withdrew 6225 at the end of every three months at 6.75% compounded semi annually. how long can jenna make withdrawls from the retirement income fund? What is the accumulated value in jenna's retirement fund after 15 years?