To save for retirement, Karls Harby put $350 each month into an ordinary annuity for 12 years Interest was compounded monthly At the end of the 12 years, the annuity was worth $79.973 What anual interest rate CED The interest rate the 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: Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If…

A: The compound interest is calculated on the principal amount annually. It considers the present value…

Q: An accountant is entitled to received 35,000 pesos at the beginning of each year for 18 years. What…

A: Annual receipt (C) = P 35,000 Number of annual receipts (n) = 18 Interest rate (r) = 3%

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: 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: What is the amount of an annuity that consists of 100 monthly payments of $250 into an account that…

A: Given: Periodic payment (P) =$250 Rate of interest per month = 5% annually  Rate of interest monthly…

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

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: Calculate the net single premium for a 5 year deferred temporary annuity which pays €2,000 each…

A: The net single premium for the insurance is the expected present value of all the future cash flows.…

Q: Eric Coleman invested $2500 four times a year in an annuity due at Southern Trust Company for a…

A: The Future Value of Annuity Due is the total future value of each cash flow which is made at the…

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: What amount would you have if you deposited $2,500 a year for 25 years at 8 percent (compounded…

A: The question is based on the concept of Annuity in Financial Management. Annuity refers to the…

Q: Sean deposits $300 at the end of every month for 1 years and 6 months in a retirement fund at 4.04%…

A: Since the deposits are at the end of every month, this is an annuity and not annuity that is…

Q: Find the amount of the ordinary annuity based on the information given. R=$12,500, 8% interest…

A: Ordinary annuity is a type of annuity where the payments will be made at the end of the year.

Q: Use the ordinary annuity formula shown to the right to determine the accumulated amount in the…

A: Principal amount = $60  Time period = 10 years  Interest rate = 5% Compounded = semi-annually

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: 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: 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: Find the future value of the given annuity. (Round your answer to the nearest cent.) ordinary…

A: Here, Annuity (PMT) = $165 Annual Interest rate  = 7 1/8% = 7.125% Monthly interest rate (r) =…

Q: Find the present value of the following perpetuity. Made Payment At: Period 1 year Perpetuity…

A: Compound = Semiannually = 2Payment = p = $4100Time = t = 1 * 2 = 2Interest rate = r = 5.2 / 2 =…

Q: if P20,879 is deposited each year for 8 years at an interest rate of 10.257% compounded bi-monthly,…

A: The concept of the time value of money states that the same amount of money is worth more today than…

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: Find the amount accumulated FV in the given annuity account. (Assume end - of - period deposits and…

A: Future value of annuity refers to the total value of a series of equal payments made at regular…

Q: Recently, More Money 4U offered an annuity that pays 6.9% compounded monthly. If $1,038 is deposited…

A: Monthly deposit (C) = $1,038 Monthly interest rate (r) = 0.00575 (i.e. 0.069 / 12) Monthly period…

Q: Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and…

A: FV of annuity = P * [ (1+r)^n  - 1 ] /r  Where, P = Periodic payment i.e. $1700 n = no. of…

Q: Determine the amount of the ordinary annuity at the end of the given period. (Round your final…

A: When the payments are made at the end of each period it is ordinary annuity. It is usually made at…

Q: On September 8, Bert Sarkis started an annuity. He arranged to have $60 deducted from his…

A: (a)Deduction amount at month-end paycheck, A = $60 Interest rate = 7% compounded monthlyInterest…

Q: Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and…

A: Future value of ordinary annuity formula is: C is periodic deposits r is periodic interest rate n…

Q: Determine the amount of the ordinary annuity at the end of the given period. (Round your final…

A: The concept of time value of money will be used here. An ordinary annuity is that annuity in which…

Q: Determine the amount of the ordinary annuity at the end of the given period. (Round your final…

A: Formula to calculate FV:  F = P * ([1 + i]^N - 1 )/i in which : P = $800 semiannually depositedi =…

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: A sum of $ 10, 000 is used to buy a deferred perpetuity-due paying $671.69 every six months forever.…

A: The present value of a perpetual annuity is the present worth of a cash flow that will continue till…

Q: $2000 twice a year in an annuity due at Pacific Securities Company for a period of 3 years at an…

A: Computation:

Q: Li Jun purchased an annuity that had an interest rate of 3.75% compounded semi- annually. It…

A: Present value refers to the current value of an asset that will be present at some future date. It…

Q: Determine the amount of the ordinary annuity at the end of the given period. (Round your final…

A: To determine the future value of an ordinary annuity, we can use the formula: FV = PMT x [(1 + r)^n…

Q: An annuity-due makes payments of $15 every other year, with the first payment beginning immediately.…

A: The present value of an annuity due is the value today of a series of equal cash flows that occur at…