If Jennifer contributes $500 every quarter into her superannuation fund for the next 45 years, how much will she accumulate assuming she can earn 8% p.a. and the first contribution is made immediately? Select one: a. $858,020.78 b. $652,810.16 c. $90,000.00 d. $875,181.20

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A: FUTURE VALUE OF ANNUITY  Future Value of Annuity is the value of a group of regular payments at any…

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A: It is given that,  Sharon want to accumualte $ 2,360,000 by her 65th Birthday. Therefore, Future…

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A: Annual saving (P) = $8000 Period from 35th year to 65th year (n) = 30 Interest rate (r) = 7.00%

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A: Data given: Cash flow for the next fifteen years, with the first cash flow today= $50,000 per year…

Q: None

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Q: Am. 111.

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Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.