Asa has invested money from the settlement of an insurance claim. She plans to withdraw $14,080 from her savings account at the end of each year for five years. If the payments are deferred for four years and interest is 8% compounded quarterly, what was the amount of the insurance settlement? The insurance settlement was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)

Asa has invested money from the settlement of an insurance claim. She plans to withdraw $14,080 from her savings account at the end of each year for five years. If the payments are deferred for four years and interest is 8% compounded quarterly, what was the amount of the insurance settlement? The insurance settlement was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)

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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Asa has invested money from the settlement of an insurance claim. She plans to withdraw $960 from her savings account at the end of each month for five years. If the payments are deferred for ten years and interest is 7% compounded annually, what was the amount of the insurance settlement? The insurance settlement was (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
To save for retirement, Milagro put $300 each month into an ordinary annuity for 20 years. Interest was compounded monthly. At the end of the 20 years, the annuity was worth $147,126. What annual interest rate did she receive?
Ms. C took a loan of $150,000 at a rate of 7 percent. She can pay equal installments of $25,000 at the end of each year. In how many years she can repay the loan if? Required: Calculate the approximate number of years over which she can repay the loan amount.
Jim and Joan Miller are borrowing $120,000 at 6.5% per annum compounded monthly for 30 years (360 months) to purchase a home. Their monthly payment is determined to be $758.48. A recursive formula for their balance after each monthly payment has been made. A determination of Jim and Joan's balance after the first payment. Don't forget the interest affecting their payment create a table showing their balance after each monthly payment. Determine when the balance will be below $75,000. Determine when the balance will be paid off. Determine the interest expense when the loan is paid.(find the total paid, and subtract 120,000 from it).
Molly has made deposits of $960 at the end of every six months for twelve years. If interest is 5% compounded quarterly, how much will Molly have accumulated ten years after the last deposit? Molly will have accumulated $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the account paid 4% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.)
Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the account paid 4% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) $
Please help me
Thomas is planning to withdraw $6000 from a savings account at the end of each quarter for five years. If the payments are deferred for six years and interest is 5.38% compounded semi-annually, what amount hen to be inveed now into the savings account? Thomas must invest $ into the savings account now. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Lily borrows USD200,000 for 30 years at 6% annually. She agrees to make annual payments of USD12,000 for the first 10 years, and USD12,000 + P for the next 20 years. By answering the following questions correct to two decimal places, a. Find P. b. Find the outstanding loan balance at the end of 5 years. c. Find the outstanding loan balance at the end of 20 years. d. Find the total of interest amount paid of the loan over 30 years.
Minu deposits $950 at the end of each quarter for 6 years in an account that earns 11.8% per year compounded quarterly. At the end of 6 years she has $32 501.04. What would the amount of the annuity be if she doubles the time period to 12 years?
Reese contributed $250.00 every month into an RRSP for 5 years. What nominal annual rate of interest will the RRSP earn if the balance in Reese's account just after she made her last contribution was $16,750.00? The nominal annual rate of interest is % compounded monthly. (Round to two decimal places as needed.) C

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