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Author Question: An annuity provides payments of $4580.00 at the end of every three months. The annuity is bought for ... (Read 296 times)

NguyenJ

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Question 1

Mr. Dawson wants to receive payments of $1230.00 at the beginning of every three months for 19 years starting on the date of his retirement. If he retires in 21 years, how much must he deposit in an account at the beginning of every three months if interest on the account is 6.84% compounded quarterly?

Question 2

An annuity provides payments of $4580.00 at the end of every three months. The annuity is bought for $53 500.00 and payments are deferred for 10 years. If interest is 9.72% compounded monthly, for how long will payments be received?


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Marked as best answer by NguyenJ on Jun 6, 2019

Athena23

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