Find the monthly payment needed to save a P240000 down payment for a house in an annuity that pays 1.3% interest compounded monthly over 18 months.
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- How much should be deposited into an account to set up an annuitv that will provide equal payments of $100per month over the next 4 years? The annuity will earn 4.8%/a compounded monthly.Show Solution. Topic: General Annuity 1. How much money is accumulated if P3,900 is paid at the end of every month for 2 years at 6% compounded quarterly?Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $200 is deposited monthly for 10 years at 6% per year in an account containing $9,000 at the start FV = $ 49150 Need Help? Read It Watch It Submit Answer
- Annuity Due 2. A house that sells for 900,000 can be purchased nder terms requiring 100 monthly payments. Assume that the first payment begins now and the interest is 12% compounded monthly. What is the size of each monthly payment?If you take out a loan for a new $20,000 car, a typical APR with a fair credit score is 4.8%. If you make monthly payments of A dollars, find an expression for your debt right after your first payment (remember that there is a difference between the APR and the monthly interest rate). *the first picture is my answer that is needed to answer the question (20000)(1.048') – A1.048* k=1 For any integer n > 1, and any r+ 1, it can be verified that п-1 pn 1 - r – 1 - k=0Assume that you make monthly payments of $400 into an ordinary annuity payi f 5% compounded monthly. How much will be in the account after 8 years?
- Find the periodic withdrawals PMT for the given annuity account. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200,000 at 6%, paid out monthly for 11 years PMT = $ Need Help? Read It Watch Ita. Use the appropriate formula to find the value of the annuity b.how much of the financial goal comes from deposit and how much comes from interest? periodic deposit-$? at the end of the month Rate-5% compounded monthly Time-16 years Financial goal-$140,000$5476.6 monthly If you can afford to pay the monthly payment from the above calculation, how much can you borrow? Assume that the term is 20 years and the interest rate is 6.25%.
- Find the future value of an annuity in 10 years if you deposit $125 at the end of each compounding period into an account paying 3.80% compounded quarterly. O $ 547407.55 O $5383.61 $ 6048.21 O $ 3007.11How much should you be willing to pay for an annuity that begins in 3 years and pays $100 dollars each month for 9.7 subsequent years? Assume your monthly discount rate is 2%. Answer: CheckWhat is the amount of an annuity that consists of 100 monthly payments of $250 into an account that pays 5% annual interest compounded monthly? Answer rounded to the nearest penny.