Randall will make deposits of $3,130 at the end of every year into an account earning 3.29% compounded monthly for the next 29 years. What type of annuity is Randall using? O Perpetuity O Not an Annuity O imple Annuity Due O Ordinary Simple Annuity O General Annuity Due O Ordinary General Annuity
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- Sean deposits $300 at the end of every month for 1 years and 6 months in a retirement fund at 4.04% compounded semi-annually. a. What type of annuity is this? O Ordinary simple annuity Ordinary general annuity O Simple annuity due O General annuity due b. How many payments are there in this annuity?Danielle receives $7,500 at the end of every quarter for 5 years for money that she loaned to a friend at 3.08% compounded quarterly. a. What type of annuity is this? a.Ordinary simple annuity b.Ordinary general annuity c.Simple annuity due d.General annuity due b. How many payments are there in this annuity? Round up to the next paymentMr. Delima deposited P5,500 every 6 months to an account that earns 8% interest compounded annually. What type of annuity does this problem illustrate?
- Every three years, D will pay Mr. J 5,000 at 8% rate to settle his loan. Mr. D will use which formula to compare with cash payment? A. Future value of IB. FV of AnnuityC. Present Value of ID.In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. You and your new spouse each bring home $1600 each month after taxes and other payroll deductions. By living frugally, you intend to live on just one paycheck and save the other in a mutual fund yielding 7.74% compounded monthly. How long will it take to have enough for a 20% down payment on a $175,000 condo in the city? (Round your answer to two decimal places.)John Regan, an employee at Home Depot, made deposits of $850 at the end of each year for 6 years. Interest is 6% compounded annually. What is the value of John's annuity at the end of 6 years? (Use Table 13.1,) (Do not round intermediate calculations. Round your answer to the nearest cent.) John's annuity acer Σ
- Lidia deposits $700 at the END of each year for 8 years in a savings account. The account pays 12% interest, compounded annually. Lidia calculates that the future value of the ordinary annuity is $8,609.79. What would be the future value if deposits are made at the BEGINNING of each period rather than the END? A. $7,062.31 B. $8,609.79 C. $9,642.96 D. $10,342.96Sam deposits $800 at the end of every 6 months in an account that pays 7%, compounded semiannually. How much will he have at the end of 9 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. ordinary annuity annuity due (b) Solve the problem. (Round your answer to the nearest cent.)Peter deposits $500 at the end of every month for 3 years in a savings account. The account pays 12% interest, compounded monthly. Peter calculates that the future value of the ordinary annuity is $21,538.44. What would be the future value if deposits were made at the beginning of each period rather than the end? (Calculate the future value by formula)
- 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.) $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 yearsa) You deposit $135.29 monthly into an account paying 8.75% for 27 years. Find the future value of the annuity. Show your work in detail.Identify whether the given problem illustrates a simple or general annuity and then solve. 2) To pay for his debt at 12% compounded semi-annually, Ruben committed for 8 quarterly payments of ₽24,491.28 each. How much did he borrow?