Tom has decided to invest $400 quarterly for 4 years in an ordinary annuity a 8%. As his financial adviser calculate for Tom the total cash value of the annuity at the end of year 4.
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Tom has decided to invest $400 quarterly for 4 years in an ordinary
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- Gustav desires to deposit with a Trust Company a sum just sufficient to provide his family with an annuity of $600 per month for twenty-four years. How much he deposit if the Trust Company agrees to accumulate interest at the rate of 6% payable monthly? show solutionIn order to fund his son’s higher education, Abdullah decided to invest $1000 quarterly for 6 years in an ordinary annuity at 12%. What is the total cash value of the annuity at end of year 6?At birth of his grandson, Gregorio Sirug commits to help pay his college education. He decides to make deposits of P10,400 at the end of each three months into an account for 12 years. Find the amount of annuity assuming 10% compounded quarterly.
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- Kevin deposits a fixed quarterly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of $90,000$90,000 in 1616 years. Assuming an APR of 3.7%3.7% compounded quarterly, how much of the $90,000$90,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.Nine years from now, Sam wants to have an amount available to deposit into an account that earns 6 percent compounded annually. This account is to provide Sam with an income of $10,000 at the end of each year for 10 years. To accomplish this, Sam invests in an 8-year bank certificate that pays 8 percent compounded semiannually, and he will use this certificate, plus interest , to establish his income account. What should be the principle value of the certificate be ? please solve these math details and do not be use any softwareJames deposits $768.51 each quarter into an annuity account for his child's college fund. He wishes to accumulate a future value of $65,000 in 16 years. Assuming an APR of 3.4%, how much of the $65,000 will James ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary. Amount James will deposit: $ Interest earned: $
