company wants to have $40,000 at the beginning of each 6-month period for the next 4 1/2 years. If an annuity is set up for this purpose, how much must be invested now if the annuity earns 6.92%, compounded semiannually?

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $599 per month…

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Q: Find the size of each of 4 payments made at the end of each year into a 5% rate sinking fund which…

A: We can use the formula for the future value of an annuity: FV = P * [(1 + r)^n - 1]/r where FV is…

Q: You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly.  Note:…

A: Given-  Monthly deposit, PMT = $240 Rate, r = 4.75% = 4.75100 = 0.0475 Amount, A = $338,000 Number…

Q: A personal account earmarked as a retirement supplement contains $292,100. Suppose $250,000 is used…

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Q: Carl is the beneficiary of a $29,000 trust fund set up for him by his grandparents. Under the terms…

A: Given ,  Present value (PV) = $29,000 Rate (r)= 3%  n = 4

Q: Acme Annuities recently offered an annuity that pays 7.5% compounded monthly. What equal monthly…

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Q: Suppose

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Q: Find the present value of an annuity of $2000 per year at the end of each of 10 years after being…

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Q: You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly.  Note:…

A: