5. a) Complete the following table for the first 4 periods of an annuity that pays 8.2% compounded monthly. You are making $250 payments at the end of each period. Your initial deposit is $3000. Period Interest earned Payment Ending Balance 3000.00 2 4 b) How much will be in your account at the end of the 4th period? c) How much did you contribute? d) How much interest was earned?
5. a) Complete the following table for the first 4 periods of an annuity that pays 8.2% compounded monthly. You are making $250 payments at the end of each period. Your initial deposit is $3000. Period Interest earned Payment Ending Balance 3000.00 2 4 b) How much will be in your account at the end of the 4th period? c) How much did you contribute? d) How much interest was earned?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:5. a) Complete the following table for the first 4 periods of an annuity that pays
8.2% compounded monthly. You are making $250 payments at the end of each
period. Your initial deposit is $3000.
Period
Interest earned
Payment Ending Balance
3000.00
2
4
b) How much will be in your account at the end of the 4th period?
c) How much did you contribute?
d) How much interest was earned?
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