6) Jamal plans to retire in 17 years. He is saving $2000 every month in a retirement savings account paying hím along-term interest of 9% compounded semi-annually. What will be the size of his payments per month fromthe ordinary anmrity for 20 years following his retirement?A) $957 836C) S8618D) S9I 547B) S8372E) S8721

Present value is the sum of the current value of money of future cash flows. It is also known as a…

6) Jamal plans to retire in 17 years He is saving S2000 every month in a retirement savings account paying him a long-term interest of 9% compounded semi-annually. What will be the stze ef his payments per month from the ordinary anmuity for 20 years following his retirement? A) $957 836 B) S372 S8618 D) S941 547 ) S721

6) Jamal plans to retire in 17 years He is saving S2000 every month in a retirement savings account paying him a long-term interest of 9% compounded semi-annually. What will be the stze ef his payments per month from the ordinary anmuity for 20 years following his retirement? A) $957 836 B) S372 S8618 D) S941 547 ) S721

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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Similar questions

2. Rita has received a gift of $15 000 from her grandma and she plans to put this in a 6-year term deposit on which she will receive an S% interest compounded monthly. What amount will she have after 6 years if she makes this investment?
Ira Roth opens up a Roth IRA and places $4,500 in his retirement account at the beginning of each year for 20 years. He believes the account will earn 8 percent interest per year, compounded quarterly. How much will he have in his retirement account in 20 years?
please show all work and state answer clearly
i invest 900 monthly into retirement account at 6.3 % intrest. If i want to retire when my account reaches 512,000 how many years until i can
Paul intends to retire in 15 years and would like to receive $1,500 every month for 20 years, starting at the end of the first month in which he retires. How much must he have at the beginning of retirement if interest is 5% compounded annually? Select one: a. $191,834.03 b. $229,415.16 c. $228,235.00 d. $227,287.97 e. $230,349.83
Hank made payments of $106 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $99,810. What annual interest rate would he need to earn on an ordinary annuity for a comparable rate of return? ◻️٪؜ (Round to the nearest hundredth as needed.)
Gustav desires to deposit with a Trust Company a sum just sufficient to provide his family with an annuity of $600 per month for twenty-four years. How much he deposit if the Trust Company agrees to accumulate interest at the rate of 6% payable monthly? show solution
John purchases an annuity due paying 6 % quarterly. If his payment is $ 250, the amount value will be in 2 years is Select one: $ 6000 $ 4000 $ 2139.83 $ 2000
Mae expects to receive $1,000 at the end of each of the next three years. She will deposit these payments into an account which pays 10%, compounded semi-annually. How much will be the future value of these payments, that is, the value at the end of the third year? a. $7,986.00 b. $3,318.01 c. $3,993.00 d. $665.50
d) Sean rents out his three bedrooms flat for R5 000 per month, payable in advance. All his rental proceeds are deposited into a bank account that earns interest at a rate of 11% per annum compounded monthly. If no withdrawals are made from the bank account, what will be Sean's balance on this bank account 8 years from now
Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. The question is: What will be the amount of his monthly amortization?

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