Author Question: Solve the problem. Round to the nearest dollar. Suppose that you earned a bachelor's degree and now ... (Read 210 times)

ishan · **on:** Feb 2, 2020

Question 1

Find the value of the annuity and the interest. Round to the nearest dollar.

A =

A =

P =

Periodic Deposit: $50 at the end of every month
Rate: 4.25% compounded monthly
Time: 9 years
◦ $1,250,552; $1,245,152
◦ $20,682; $16,182
◦ $6564; $1164
◦ $6536; $2036

Question 2

Solve the problem. Round to the nearest dollar.

Suppose that you earned a bachelor's degree and now you're teaching middle school. The school district offers teachers the opportunity to take a year off to earn a master's degree. To achieve this goal, you deposit $1500 at the end of every three months in an annuity that pays 5.5% compounded quarterly. How much will you have saved at the end of 5 years? Find the interest.
◦ $143,353; $113,353
◦ $34,262; $4262
◦ $33,786; $3786
◦ $32,317; $2317

Natalie4ever · **Reply #1 on:** Feb 2, 2020

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