How much will deposits of $40 made at the end of each month amount to after 7 years if interest is 8% compoundedannually?The deposits will amount to $(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal placesas needed.) For the following ordinary annuity, determine the size of the periodic payment.Future PresentValueValue$11,900.00PaymentPeriod1 yearTerm of Annuity Interest Rate12 years9.7%ConversionPeriodannuallyThe payment is $(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal placesas needed.)

According to the financial theory known as the time value of money, an asset's intrinsic value is…

How much will deposits of $40 made at the end of each month amount to after 7 years if interest is 8% compounded annually? The deposits will amount to $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

How much will deposits of $40 made at the end of each month amount to after 7 years if interest is 8% compounded annually? The deposits will amount to $ (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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Question

How much will deposits of $40 made at the end of each month amount to after 7 years if interest is 8% compounded
annually?
The deposits will amount to $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places
as needed.)

For the following ordinary annuity, determine the size of the periodic payment.
Future Present
Value
Value
$11,900.00
Payment
Period
1 year
Term of Annuity Interest Rate
12 years
9.7%
Conversion
Period
annually
The payment is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places
as needed.)

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