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44) Suppose a state lottery prize of $2 million is to be paid in 10 payments of $200,000 each at the end of each of the next 10 years. If money is worth 11%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.) 44) –

44) Suppose a state lottery prize of $2 million is to be paid in 10 payments of $200,000 each at the end of each of the next 10 years. If money is worth 11%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.) 44) –

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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< > e learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com + Bb 1 Yuzu Reader: CUSTOM: San Jacinto College Central SPCH 1321 Business & Professional Speech Communic. b My Questions | bartleby https://learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5d44406cac91b/274716827?X-B. 40) What is the compound interest if $460 is invested for 5 years at 8% compounded continuously? (Round your answer to the nearest cent.) 40) 41) Find the future value of an annuity of $1300 paid at the end of each year for 10 years, if interest is earned at a rate of 6%, compounded annually. (Round your answer to the nearest cent.) 41) 42) The Weidmans want to save $35,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to meet their goal? (Round your answer to the nearest cent.) 42) 43) Find the present value of an annuity of $7000 paid at the end of each 6-month period for 10 years if the interest rate is 8%, compounded semiannually. (Round your answer to the nearest cent.) 43) 44) Suppose a state lottery prize of $2 million is to be paid in 10 payments of $200,000 each at the end of each of the next 10 years. If money is worth 11%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.) 44) 45) A man buys a car for $34,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly payments of $600 for 48 months, how much must he put 45) down? (Round your answer to the nearest cent.)
Transcribed Image Text:< > e learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com + Bb 1 Yuzu Reader: CUSTOM: San Jacinto College Central SPCH 1321 Business & Professional Speech Communic. b My Questions | bartleby https://learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5d44406cac91b/274716827?X-B. 40) What is the compound interest if $460 is invested for 5 years at 8% compounded continuously? (Round your answer to the nearest cent.) 40) 41) Find the future value of an annuity of $1300 paid at the end of each year for 10 years, if interest is earned at a rate of 6%, compounded annually. (Round your answer to the nearest cent.) 41) 42) The Weidmans want to save $35,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to meet their goal? (Round your answer to the nearest cent.) 42) 43) Find the present value of an annuity of $7000 paid at the end of each 6-month period for 10 years if the interest rate is 8%, compounded semiannually. (Round your answer to the nearest cent.) 43) 44) Suppose a state lottery prize of $2 million is to be paid in 10 payments of $200,000 each at the end of each of the next 10 years. If money is worth 11%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.) 44) 45) A man buys a car for $34,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly payments of $600 for 48 months, how much must he put 45) down? (Round your answer to the nearest cent.)
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