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 1       2       3       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
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  1. 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

1

 

 

 

2

 

 

 

3

 

 

 

4

 

 

 

 

  1. b) How much will be in your account at the end of the 4th period? ____________
  2. c) How much did you contribute? _________________
  3. d) How much interest was earned? _______________
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