Winston and Bonnie pay $400 at the end of each 6 months for 5 years into an ordinary annuity paying 8% compounded semiannually. What is the future value at the end of 5 years?
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- Manuel is preparing for an income fund for his retirement. He wants to receive P 15 500 at the beginning of each month for the next 25 years. The income fund pays 10.5% per year compounded monthly. How much must Manuel deposit now to pay for the annuity?Andrea is depositing P4, 000 each month in an ordinary annuity that pays 2% interest compounded monthly. Determine the accumulated amount in this annuity after 5 years.Eric and vest $1050 every year in an annuity that pays six. 6% interest compounded annually. Payments will be made at the end of each year. Find the total value of the annuity in 21 years.
- Delia purchases an annuity that will pay her $10,000 per year for the next 10 years starting next year. Assuming a rate of 6%, what is the value of the annuity. Choose the closest. a) $106,000 b) $131,808 c) $159,374 d) $171,569As part of her retirement planning, Mrs. Smith purchases an annuity that pays 16 % compounded quarterly . If the quarterly payment is $7500 , how much will Mrs. Smith have saved in 8 years?Carla Lopez deposits $5, 200 a year into her retirement account. If these funds have an average eaning of 6 percent over the 40 years until her retirement, what will be the value of her retirement account?
- Geoff has paid $16,000 for a retirement annuity from which he will receive $1,582 at the end of every six months. The payments are deferred for 11 years and interest is 4% compounded semi-annually. (a) How many payments will Geoff receive? (b) What is the size of the final payment? (c) How much will Geoff receive in total? (d) How much of what he receives will be interest?Shawn purchases a retirement annuity that will pay him $1,000 at the end of every six months for the first nine years and $300 at the end of every month for the next six years. The annuity earns interest at a rate of 2.8% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Shawn receive from the annuity? Round to the nearest centSarah purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first nine years and $700 at the end of every month for the next five years. The annuity earns interest at a rate of 4.1% compounded quarterly. 4 a. What was the purchase price of the annuity? $0.00 Round to the nearest cent b. How much interest did Sarah receive from the annuity? Round to the nearest cent
- Nilda expects to receive P20,940 at the beginning of each period per year in Social Security payments. Assume that she receives these payments for 28 years and use a rate of 6% per year. Find the present value of her retirement payments.Anna purchases a retirement annuity that will pay her $2,000 at the end of every six months for the first nine years and $200 at the end of every month for the next four years. The annuity earns interest at a rate of 3.6% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Anna receive from the annuity? Round to the nearest centSusan Co expects to receive P20,940 at the beginning of each period per year in Social Security payments. Assume that she receives these payments for 28 years and use a rate of 6% per year. Find the present value of her retirement payments.