This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Connie wants to have an annuity payment of 2,000 at the END of every three months. How much should ... (Read 154 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 24, 2018
Connie wants to have an annuity payment of 2,000 at the END of every three months. How much should she deposit now at 6 interest, compounded quarterly, to yield this payment for 3 years? (Use Table 12-2 in your text)
 A) 21,815.02
  B) 20,786.85
  C) 21,577.10
  D) 22,783.26

Question 2

Peter deposits 500 at the END of every month for 3 years in a savings account. The account pays 12 interest, compounded monthly. Peter calculates that the future value of the ordinary annuity is 21,538.44. What would be the future value if deposits were made at the BEGINNING of each period rather than the END? (Calculate the future value by formula)
 A) 21,753.83
  B) 25,734.44
  C) 22,273.44
  D) 22,349.85


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

JYan

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

A


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Security Tips for Accepting Various Forms of Payment Security Tips for Accepting Various Forms of Payment
Bereaved spouses studied before loss, at the time of loss, and 18 months after loss show five ... Bereaved spouses studied before loss, at the time of loss, and 18 months after loss show five ...
How to choose the right payment plan with changing conditions (Question 1) How to choose the right payment plan with changing conditions (Question 1)
How to choose the right payment plan with changing conditions (Question 2) How to choose the right payment plan with changing conditions (Question 2)
A man put aside $5710.00 at the end of every 3 months for seven years. How much will he have ... A man put aside $5710.00 at the end of every 3 months for seven years. How much will he have ...
Determine the nominal annual rate of interest of the following ordinary general annuity. Determine the nominal annual rate of interest of the following ordinary general annuity.
Video: Decubitus Ulcer

For a complete list of videos, visit our video library