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 73 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
Thanks for the timely response, appreciate it

tkempin

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Crying Frequency in the Early Months In their first months of life, infants often cry for no appare Crying Frequency in the Early Months In their first months of life, infants often cry for no appare
How to calculate annuity when compounded semi-annually (Part 1) How to calculate annuity when compounded semi-annually (Part 1)
How to choose the right payment plan with changing conditions (Question 3) How to choose the right payment plan with changing conditions (Question 3)
Comparison Pre-pregnancy and 9 months pregnancy Comparison Pre-pregnancy and 9 months pregnancy
Find the equivalent replacement payments for the following scheduled payment. Find the equivalent replacement payments for the following scheduled payment.
A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ... A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ...
Video: Immune responses Animation

For a complete list of videos, visit our video library