Suppose that at age 25, you decide to save for retirement by depositing $230 at the end of every month in an IRA that pays 4.5% compounded monthly. (e) How much will you have from the IRA when you retire at age 59? |dollars (Round to the nearest dollar.) (b) Find the interest, dollars (Round to the nearest dollar.) Formulas: P(1+ )"-1] () A(E) • P= [+-1]

For each of the following annuities, calculate the present value. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Present Value Annuity Payment $ 2,000 $ 1,280 $ 11,580 30,150 69 $ Years 7 17 25 Interest Rate 9 % 8 10 12

Q. 4

A) suppose be $22,168.70 not sure formula is correct

Use the following time value of money tables for Questions 1-4. Round answers to the nearest dollar. (The annual interest rate for all problems is 6%.)   n = 3; i = 6% n = 6; i = 3% Future value of 1 1.19102 1.19405 Present value of 1 .83962 .83748 Future value of an annuity 3.18360 6.46841 Present value of an annuity 2.67301 5.41719 Redlands Inc. makes semiannual deposits of $2,000 each June 30 and December 31 each year, beginning in 2020. The amount of money Redlands will have on December 31, 2022 immediately after the sixth and final deposit is $

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If the present value of an ordinary, 6-year annuity is $8,800 and interest rates are 9.5 percent, what’s the present value of the same annuity due? (Round your answer to 2 decimal places.) PV = $_______.__

USING FORMULAS, NO TABLES

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