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Q1) Molly receives $3,700 from an investment at the beginning of every month for 2 years at 3.62% compounded semi-annually. What type of
Q2) Jeffrey deposits $450 at the end of every quarter for 4 years and 6 months in a retirement fund at 5.30% compounded semi-annually. What type of annuity is this?
Q3) How much should Shawn have in a savings account that is earning 3.75% compounded quarterly, if he plans to withdraw $2,250 from this account at the end of every quarter for 7 years?
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- Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month in an investment that pays 7%, compounded monthly, if they want the balance to be $200,000 at the end of 18 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.)Find the future value of each using the future value of an ordinary annuity formula. Shelly deposits the $2,000 she got as a birthday gift from her grandmotherinto an account earning 3.6% interest compounded monthly. She decides to also deposit $200 at the end of each month into the same account. How much will be in the account in 10 years? Julian won the lottery! He deposits some of his winnings intoan account earning 2.75% interest compounded quarterly. He makes his deposit of $25,000 and also decides to start making deposits of $1,000 into the same account at the end of each quarter. How much will he have after 5 years?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?
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