Find the future value of each using the future value of an ordinary annuity formula.  Priscilla deposits $200 at the end of each month for seven years into a savings accountearning 5% compounded monthly. How much does she have in the account after seven years? Conniedeposits $2,000 at the end of eachyear into her Individual Retirement Account (IRA). It earns 8% compounded annually. How much will Connie have after twenty years?  13. David wants to retire in forty years. If he puts away $300per quarter, at the end of each quarter, into an account earning 5.5% compounded quarterly,how much will he have when he retires?

Q: Peter deposits $500 at the end of every month for 3 years in a savings account. The account pays 12%…

A: The formula used is shown:

Q: Janice and Terry Van Dyke have decided to establish a quarterly ordinary annuity of $8,000 for the…

A: Ordinary annuity refers to the periodic series of payments that an investor makes into an investment…

Q: Holly Krech is planning for her retirement, so she is setting up a payout annuity with her bank. She…

A: Given: Holly Krech is planning for her retirement, so she is setting up a pay-out annuity with her…

Q: To find the value of an annuity due, you will multiply the value of the ordinary annuity by…

A: Present value is the current worth of the future payments that are to be received. As per time value…

Q: Laura purchases a retirement annuity that will pay her $2,500 at the end of every six months for the…

A: Present value of annuities will be the equivalent value of future cash flow to be received in the…

Q: (Refer to this word problem In order to plan for their retirement, a married couple decides to…

A: Quarterly payment (Q) = P 50000 r = 8% per annum = 2% quarterly = 0.02 n = 10 years = 40 quarters

Q: A relative wills you an annuity paying $1000 per quarter for the next 4 years. If money is worth 12%…

A: An annuity is a financial arrangement that involves a series of fixed payments at equal time…

Q: Crystal Nelson is 30 years old and she invests $3,300 in an annuity, earning a 8% compound annual…

A: PV = 0 N = 21 rate = 8% PMT = 3300 use FV function in Excel with type as 1

Q: A retiree wants to purchase an annuity that will provide her with end-of-year payments for the next…

A: Number of year end payment = 30 Years Rate of return = 5.5% First annual payment = $ 15,000 Annual…

Q: Connie wants to have an annuity payment of $2000 at the end of every three months. How much should…

A: Given information: Annuity payment is $2,000 Interest rate is 6% compounded quarterly Number of…

Q: Sarai is planning to save $200 each month in an ordinary annuity that earns 3% interest compounded…

A: GIVEN, A=$200 R=3% N=10 M=12

Q: Dean Gooch is planning for his retirement, so he is setting up a payout annuity with his bank. He…

A: Payout annuity is the amount that an investor receives at a regular interval after a certain period…

Q: To help out with her retirement savings, Kaitlin invests in an ordinary annuity that earns 2.4%…

A: We will apply the required formula to calculate the quarterly payment, we will take the future value…

Q: June Watson is contributing $2,500 each year to a Roth IRA. The IRA earns 3.4% per year. How much…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: Karen deposits 300 each month into an annuity that pays 8% annual interest at the end of each year.…

A: Future value of annuity =PMT [{(1+i) n-1}/i]*(1+i) Where i=periodic interest rate n=number of…

Q: Mary puts aside $400 at the end of each three months for five years into a savings account. The…

A: Given information:  Quarterly payment = $400 Time = 5 years Compounding periods = 12 Rate = 9%

Q: Connie wants to have an annuity payment of $2000 at the end of every three months. How much should…

A: Present value of annuity formula will be used to calculated the amount required for periodic…

Q: Connie wants to have an annuity payment of $2,250 at the END of every three months. How much should…

A: Present value of annuities will give what is cash amount to be paid today.

Q: n the following ordinary annuity, the interest is compounded with each payment, and the payment is…

A: Annuity refers to the series of payments at regular intervals over a period of time. Future value of…

Q: Shaylea, age 22, just started working full-time and plans to deposit $5,400 annually into an IRA…

A: The compounded value concept is an important technique of the time value of money. It determines the…

Q: Randall will make deposits of $3,130 at the end of every year into an account earning 3.29%…

A: Ordinary General Annuity is the annuity when payment is made at the beginning or end of each month…

Q: June Watson is contributing $2,000 each year to a Roth IRA. The IRA earns 4.4% per year. How much…

A: Ordinary annuity: In an ordinary annuity, we have to make equal payments at the end of consecutive…

Q: Andrew has an annuity that pays 4.4% annual interest compounded monthly and at the end of each month…

A: We need to calculate future value of annuity for the above question Formula: FV=PMTi(1+i)n-1 Where,…

Q: Manuel plans to set aside money for his young daughter’s college tuition. He will deposit money in…

A: Annuity is referred as the instalment paid at the regular interval for a particular period. The…

Q: Alejandra has an payout annuity that pays 66% annual interest compounded monthly. This is a 2020…

A: To solve this question, firstly have to take $10,000 as the present value and by using Annuity…

Q: Frank plans to set aside money for his young daughter's college tuition. He will deposit money in an…

A: The Future Value of the Annuity refers to the sum value of all the payments which is occurred…

Q: Bill is the owner of an ordinary annuity that will pay him $12,000 at the end of each of the next…

A: solution Bill is the owner of an ordinary annuity that will pay him $12,000 at the end of each of…

Q: Cheryl Wilcox is planning for her retirement, so she is setting up a payout annuity with her bank.…

A: Amount to be saved monthly = Total future amount needed / Present value annuity factor for the…

Q: In the following ordinary annuity, the interest is compounded with each payment, and the payment is…

A: It can be solved using NPER function in excel. =NPER(rate,pmt,pv,[fv],[type]) Rate The interest…

Q: 2. Manuel is preparing for an income fund for his retirement. He wants to receive ₱ 15 500 at the…

A: The amount that Manuel needs to deposit today can be calculated with the help present value of…

Q: Without using Excel and using the formula, Cheryl is setting up a payout annuity and wishes to…

A: Present Value of annuity refers to the present value of all the future payments of and series of…

Q: Dean Gooch is planning for his retirement, so he is setting up a payout annuity with his bank. He…

A: The annuity is a series of cash flow wherein an equal amount is paid every period.

Q: How much money does she need to pay into the annuity each quarter for the annuity to have a total…

A: Ordinary Annuity: These are payments made at the period end regularly for a period of time. The size…

Q: Diane wants to receive annuity payments of $2500 at the beginning of each quarter for eight years.…

A: The present value of annuity refers to the current value of the future payments from the payment…

Q: Karen wants to have $22,559 in her investment account in 5 years. If her bank offers an annual…

A: Following details are given in the question : Future value = $22559 Time period = 5 years Interest…

Q: what will be the amount in the account upon your retirement?

A: Future value of the retirement account is the total value that an individual will be able to…

Q: Latanya Brown established an ordinary annuity of $1,000 annually at 9% annual interest. What is the…

A: The compounding method is used to determine the future value of cash that is deposited today.

Q: Sara decides to set up a retirement fund by depositing $24 at the end of each day for 13 years. How…

A: Let's begin by calculating Effective Interest rate Formual for Effective Interest Rate = (1  +…

Q: If you deposit $250 each month into an individual retirement account (IRA) that earns 4.8% interest…

A: We can use advance calculators or Excel to find the future value asked in the question.

Q: annuity.he plans to deposit $500 into this account each month at 2.4 % annual interest compounded…

A: in this problem we have to find out future value FACTOR and from that we get future value.

Q: Connie wants to have an annuity payment of $2,200 at the END of every three months. How much should…

A: Using the PV in excel

Q: Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA…

A: Case 1 ) Periodic Payment = $4500 annually Interest Rate = 9% p.a compounded annually. Case 2 )…

Q: Abby plans to deposit $100 at the end of every quarter for the next 10 years into an annuity that…

A: The computation of the value at maturity as follows:

Q: Your friend Demetrius has an annuity that pays 4.6% annual interest compounded monthly and at the…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: An insurance settlement of $1.5 million must replace Trixie Eden's income for the next 25 years.…

A: Computation of monthly income:

Q: a) Liliana makes the following deposits into her savings account. $7,400 in 2 years, $4,800 in 3…

A: " Hi, Thanks for the Question. Since you posted multiple question, we will answer the first question…

Q: Suppose that you would like to have $25,000 to use as a down payment for a home in five years by…

A: An Annuity is a continuous flow of systematic timely cash flows made or received for a stipulated…

Q: Frank plans to set aside money for his young daughter's college tuition. He will deposit money in an…

A: This is a case of ordinary annuity. It means that deposits are being made at the end of the relevant…