On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $130 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 678% interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity.
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![On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $130 from
her checking account at the end of each month and deposit it into her Christmas Club account, where it
will earn 678% interest. The account comes to term on December 1. (Round your answers to the
nearest cent.) (a) Find the present value of the given annuity.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F789fad93-3b6a-43fb-be49-5429e0ae756a%2F43918c2c-64c9-4bb7-81dc-ceffb3f2a98a%2Ftiqhzi6_processed.png&w=3840&q=75)
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- On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $105 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 6 7 8 % interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity.$ (b) Interpret the present value of the given annuity. You would have to invest a lump sum of $ now instead of $105 per month.On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $120 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 6 7/8% interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity.(b) Interpret the present value of the given annuity.On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $120 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 67% interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity. $ X (b) Interpret the present value of the given annuity. You would have to invest a lump sum of $ X now instead of $120 per month.
- On September 8, Bert Sarkis joined a Christmas club. His bank will automatically deduct $65 from his checking account at the end of each month and deposit it into his Christmas club account, where it will earn 7% interest. The account comes to term on December 1. (a) Find the future value of the account, using an annuity formula. (Round your answer to the nearest cent.) $ (b) Find the future value of the account, using the compound interest formula. (Round your answer to the nearest cent.) $ (c) Find Bert's total contribution to the account. $ (d) Find the total interest. (Round your answer to the nearest cent.) $On September 8, Bert Sarkis started an annuity. He arranged to have $60 deducted from his end-of-month paychecks. The money would earn 7% interest compounded monthly. (a) Find the future value of the account on December 1 using an Amortization Formula. (Round your answer to the nearest cent.) $ 10280 X (b) Find the future value of the account on December 1 by applying the Compound Interest Formula to each payment individually. (Round your answer to the nearest cent.) 5.75 X (c) Find Bert's total contribution to the account. $ 2356.176 x (d) Find the total interest. (Round your answer to the nearest cent.) $ 7923.824 XA woman deposits $260 of her quarterly check into an annuity for the education of her child. She does this at the end of each quarter for 4 years into an account paying 6% per year, compounded quarterly. Find the amount of the annuity and the interest earned.
- Jane makes regular (end of term) deposits into her RRSP (Registered Retirement Savings Plan) that will be converted into an RRIF (Registered Retirement Income Fund) 27 years from now. During retirement Jane would like to receive $5,200 at the end of every three months for 22 years. If interest is 4.52% compounded quarterly (for both the RRSP and RRIF). Answer the following questions, and round all answers to two decimal places where necessary.1) How much money should Jane have in her RRIF to receive payments of $5,200 at the end of every three months?P/Y = Incorrect C/Y = N = Incorrect I/Y = Correct%PV = $Incorrect PMT = $Incorrect FV = $2) What payment will Jane have to make at the end of every three months into her RRSP so that there is enough money in her RRIF at the start of her retirement?P/Y = C/Y = N = I/Y = %PV = $ PMT = $ FV = $ Submit QuestionQuestion 3Yolanda deposited $1,200 at the end of each six months for 2 years in a savings account. If the account paid 8% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.)PLEASE ANSWER IT ASAP FOR AN UPVOTE. I NEED IT NOW. 3. Karen deposits P100 at the beginning of each month into an annuity that pays a 6% annual interest at the end of each year. How much will she have in this account at the end of 5 years? (
- Mrs. Quiton deposited Php 120,000.00 into a college fund at the beginning of every month for 10 years . The fund earns 9% annual interest , compounded monthly . She paid at the end of the month . How much is in the account right after the last deposit ? 1. What is the type of annuity illustrated in the given problem? A. Simple Annuity B. General Annuity C. Deferred Annuity D. Complex Annuity 2. Determine the present value of the deposit. A. Php 12,000.00 B. Php 30,000.00 C. Php 60,000.00 D. Php 75,000.00Rosa has a annuity worth $20, 000 to help pay for expenses while they are in a year-long (12-month) masters program. The annuity earns 5.4 % compounded monthly. Using the present value annuity formula, they find the will receive $1708 monthly during this time, sent to them at the start of the month. Fill in the table to track how much money remains in the annuity after each month. Round answers to 2 decimal places and use rounded answers in subsequent calculations. Time (Months) 0 2 3 Balance at start of month (after payment) $ $ $ Interest Earned during Time Period $ s $ Balance at end of month $ 20,000 $ $ $Sara deposits $500 per month into an annuity. The annuity earns 5%.interest.compounded monthly. If she does this for 30 years, how much is in the annuity? Round to nearest whole dollar. S Enter a number, Submit Answer