June Stickney purchased an annuity on January 1, 2019, which, at a 12% annual rate, would yield $6,000 each June 30 and December 31 for the next 6 years. What was the cost of the annuity to Stickney? Round your answer to two decimal places. $ fill in the blank 4 Five equal annual contributions are to be made to a fund, with the first deposit on December 31, 2019. Determine the equal contributions that, if invested at 10% compounded annually, will produce a fund of $30,000 on December 31, 2024. Round your answer to two decimal places. $ fill in the blank 5 Beginning on December 31, 2020, 6 equal annual withdrawals are to be made. Determine the equal annual withdrawals if $11,000 is invested at 10% interest compounded

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
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June Stickney purchased an annuity on January 1, 2019, which, at a 12% annual rate, would
yield $6,000 each June 30 and December 31 for the next 6 years. What was the cost of the
annuity to Stickney? Round your answer to two decimal places. $ fill in the blank 4 Five equal
annual contributions are to be made to a fund, with the first deposit on December 31, 2019.
Determine the equal contributions that, if invested at 10% compounded annually, will produce
a fund of $30,000 on December 31, 2024. Round your answer to two decimal places. $ fill in
the blank 5 Beginning on December 31, 2020, 6 equal annual withdrawals are to be made.
Determine the equal annual withdrawals if $11,000 is invested at 10% interest compounded
annually on December 31, 2019. Round your answer to two decimal places. $ fill in the blank
6
Transcribed Image Text:June Stickney purchased an annuity on January 1, 2019, which, at a 12% annual rate, would yield $6,000 each June 30 and December 31 for the next 6 years. What was the cost of the annuity to Stickney? Round your answer to two decimal places. $ fill in the blank 4 Five equal annual contributions are to be made to a fund, with the first deposit on December 31, 2019. Determine the equal contributions that, if invested at 10% compounded annually, will produce a fund of $30,000 on December 31, 2024. Round your answer to two decimal places. $ fill in the blank 5 Beginning on December 31, 2020, 6 equal annual withdrawals are to be made. Determine the equal annual withdrawals if $11,000 is invested at 10% interest compounded annually on December 31, 2019. Round your answer to two decimal places. $ fill in the blank 6
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