Pls solve for the ordinary annuity of the following: Joe deposits $22,000 at the end of each year for 7 years, in an account paying 6 % compounded annually, how much will he have on deposit after 7 years? Ans: $184,664.43 Napoleon deposits $1,200 at the end of each quarter for 10 years, in an account paying 8 % compounded quarterly, how much will he have on deposit after 10 years? Ans: $72,482.38 Jose wants to retire in twenty years and for this purpose he is depositing $200 at the end of each month in a sinking fund that pays 7.2% compounded monthly. If he will be doing this for twenty years, then how much money will be there for him when he retires? Ans: $106,752.47
Pls solve for the ordinary annuity of the following:
Joe deposits $22,000 at the end of each year for 7 years, in an account paying 6 % compounded
annually, how much will he have on deposit after 7 years? Ans: $184,664.43
Napoleon deposits $1,200 at the end of each quarter for 10 years, in an account paying 8 %
compounded quarterly, how much will he have on deposit after 10 years? Ans: $72,482.38
Jose wants to retire in twenty years and for this purpose he is depositing $200 at the end of each
month in a sinking fund that pays 7.2% compounded monthly. If he will be doing this for twenty years,
then how much money will be there for him when he retires? Ans: $106,752.47
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
