To save for retirement, Karla Harby put $425 each month into an ordinary annuity for 11 years. Interest was compounded monthly. At the end of the 11 years, the annuity was worth $84,933. What annual interest rate did she receive? The interest rate she received was approximately%. (Round to two decimal places as needed.) …..

Q: A perpetuity paying $8600 at the end of each half-year is replaced with an annuity paying $X at the…

A: A perpetuity is the series of fixed payments that will be received for an infinite period.

Q: Joe and Angela deposited $4800 in a saving account that pays 6% interest compounded annually. This…

A: Compounded Interest is the type of interest that is calculated only on the cumulative amount.…

Q: Nathan deposits $800 at the end of every quarter for 7 years in a retirement fund at 5.12%…

A: 1. This is a simple annuity due.  A financial arrangement known as an annuity is one in which a…

Q: Andy invested $850 semi-annually for eight years at 6%, compounded semi-annually. What is the value…

A: Amount invested = $850 Time Period = 8 Years Interest Rate = 6%

Q: Jane receives payments of X at the beginning of each year forever. The present value of her annuity…

A: In this question payment is received at the beginning of each year and present value of annuity is…

Q: If the value of the annual payment is $34,059.92, calculate the present value of a life annuity…

A: Present value of an annuity is the cash value of future annuity payments of all the persons, It is…

Q: Hector will receive 1,500 at the end of each year for 5 years. Jill will receive 1,000 at the end of…

A: Annuity refers to a stream of constant and periodic cash flows.   For example a sum of $100 being…

Q: Find the future value.

A: Time value of money is one of the most fundamental and basic concepts of investing. The phrase “Time…

Q: Jane Adele deposits $1,700 in an account at the beginning of each 3-menth period for 12 years. If…

A: If the amount is deposited at end of each period, then such annuity is called ordinary annuity. If…

Q: Anna deposits at the beginning of every month of P1,500 into an annuity for 6 years. If she wishes…

A: In this we need to calculate present value factor monthly to get the interest rate.

Q: fran purchased an annuity that provides 6200 quarterly payments foe the next 10 years. The annuity…

A: Annuity Extension ratio (Return on capital per payment) = Cost of annuity / (Number of years* 4…

Q: NOTE: Provide a format and show your work (example: N = 6, PV = XXX, I = X%, etc.) 1. Sam decides…

A: Step 1 The current value of a future stream of payments from a business, project, or investment is…

Q: Mr. Ramos savings allow her to withdraw 50,000 semi-annually for 11 years starting at the end of 5…

A: Solution Concept This is the problem related to time value of money Present value is calculated by…

Q: Ruth bought an insurance for 66,000 at 6% to receive an annuity for 16 years. Find the specified…

A: A stream of equal cash flows (CF) paid or received periodically is termed as annuity. Annuity is…

Q: Martha receives $100 on the first of each month. Stewart receives $100 on the last day of each…

A: In finance, the concept of the time value of money is crucial, emphasizing that the value of money…

Q: Noel has $330,000 with which to purchase an ordinary annuity delivering monthly payments for 25…

A: In ordinary annuity payments are made at the end of period and regular over the period of the…

Q: Consuelo pays into an ordinary annuity for 40 years. a. If the annuity earns 5.4% yearly interest…

A: The present value of an annuity is the current value of a series of future payments or receipts,…

Q: Joseph purchased an annuity that had an interest rate of 2.75% compounded semi-annually. It provided…

A: The purchase price of an annuity corresponds to current worth of annuity payments that make investor…

Q: Mrs. Quiton deposited Php 120,000.00 into a college fund at the beginning of every month for 10…

A: ANNUITY is the series of equal payments made at regular interval of time.

Q: Carla borrowed money to bank and she pays equal 3,500 every end of a quarter for 3 years with an…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: my Jolly deposited $2 000 in a savings account.  The annual rate is 10 per cent   compounded…

A: The future value of money includes the money deposited and interest accumulated over the period of…

Q: At the beginning of each period for 11 years, Merl Agnes invests $410 semiannually at 4%. What is…

A: The future value of annuity due is the total value of a series of payment made at the beginning of…

Q: individual earns an extra $1000 each year and places this money at the end of each year into an…

A: Solved using Financial Calculator  PMT = -1000 I/Y = 7.5 N =50 CPT FV = $ 482,529.95

Q: Twice a year for 6 years, Wendy Cortez invested $800 compounded semiannually at 12% interest. What…

A: Annuity due is the annuity payments or receipts at the start of the period. The value is computed as…

Q: preceding year. Interest is 12% compounded annually. Determine the present value of the annuity.

A: No. of Payments = 30Payments (PMT) = 1000Interest Rate = 12%Growth Rate = -5%

Q: . Leo invested $67 250 into an annuity earning 4.4% compounded semi-annually. How much is he able to…

A: A series of fixed payments that are paid or received at an equal time interval is term as the…

Q: A 20-year annuity pays $2,100 per month, and payments are made at the end of each month. If the APR…

A: The PV of an investment refers to the combined worth of the investment's cash flows after they have…

Q: At the beginning of each period for 11 years, Bobby Nelson invests $470 semiannually at 4%,…

A: It can be calculated using FV function in excel. FV (rate, nper, pmt, [Pv], [type]) Rate The…

Q: Mary wants to receive a payout of $1500 per month for 20 years. 1) How much money must be in the…

A: Using excel PMT and PV function

Q: emi-annually. It provided him with payments of $2,000 at the end of every month for 3 ears. If the…

A: Value that is paid for the periodic payment is present value of monthly payment that are based on…

Q: Harleen has deposited $125 at the end of each month for 13 years at 4.68% compounded monthly. After…

A: Compound interest is the combination of principle and interest that is added over a set period.…

Q: Erica purchases a retirement annuity that will pay her $1,500 at the end of every six months for the…

A: Purchase price of annuity would be the present value of payments received from annuity based on time…

Q: (Future value of an annuity) Upon graduating from college 35 years ago, Dr. Nick Riviera was already…

A: Semi annual payment=PMT=$900Semi annual rate=r=7/2=3.5%Semi annual period=n=35 x 2=70

Q: To save for retirement, Milagro put $300 each month into an ordinary annuity for 20 years. Interest…

A: It's important to consider interest rates when making financial decisions, as they can have…

Q: CFJ deposited P175,000 every 6 months for 5 years with an interest of 12% compounded semi-annually.…

A: The future value can be calculated using the FV Function in excel. FV = (RATE, NPER, PMT, PV, TYPE)…

Q: ria deposits $1,000 in her account at a rate of 3% per year as interest for 2 years. what is the…

A: Future value of amount is the amount that is being deposited and amount of interest accumulated over…

Q: fank made payments of $161 per month at the end of each month for 30 years to purchase a piece of…

A: Yield to maturity can be calculated by following function in excel=RATE (nper, pmt, pv, [fv],…

Q: C. $5,831 O d. $4,540.05

A: The worth of money changes with time, therefore the TVM considers the value of money according to…

Q: Minu deposits $950 at the end of each quarter for 6 years in an account that earns 1.8% per year…

A: As the number of compounding period increase than the effective interest rate increases and more…

Q: Every three years, D will pay Mr. J 5,000 at 8% rate to settle his loan. Mr. D will use which…

A: An Annuity:- An annuity is a fixed amount of perodic payment that an individual receive or pay for a…

Q: Jeff bought an annuity immediate for $45.24. This annuity immediate is designed such that payments…

A: An annuity refers to a series of periodic payments received/paid in exchange for a lump sum payment.…

Q: Mr. Peabody drove to his bank and deposited $500 at the end of every three months for 15.6 years.…

A: Interest rate = 4.95% compounded semi annuallyThe effective annual rate is The quarterly interest…