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)

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)

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

Section: Chapter Questions

Problem 1PS

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An annuity pays 8 at the end of each year for five years, starting atthe end of the 12th year. Determine the value of the annuity immediately beforethe first payment using an annual effective interest rate of 7%. which answer is correct in the pictures ie $15.58 or $32.80 (dont use exel in the calculation)
The compounding periods and the payment periods are the same for an annuity and for an amortization. Determine the present value of the annuity that will pay the given periodic payments. (Round your final answer to two decimal places.) Periodic payments of $2400 annually for 13 years. The interest is 4% compounded annually.
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Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $1,798 is deposited into this annuity every month, how much is in the account after 8 years? How much of this is interest? Type the amount in the account: $212590.28 (Round to the nearest dollar.) Type the amount of interest earned: $39982.28 (Round to the nearest dollar)
10. To save for retirement, Karla Harby put $750 each month into an ordinary annuity for 13 years. Interest was compounded monthly. At the end of the 13 years, the annuity was worth $195,947. What annual interest rate did she receive? The interest rate she received was approximately %. (Round to two decimal places as needed.)
a personal account earmarked as a retirement supplement contains 242,400. suppose 200,000 is used to establish an annuity that earns 6% compounded quarterly and pays 4,500 at the end of each quarter. How long until the account balance is zero?
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