Your mom decided to join their office cooperative and agreed to contribute P1000 per month beginning in January 2020 which will earn 3% compounded monthly. The given problem is a example of Simple Annuity General Annuity Annuity Due Annuity Certain SUDESMANIA COM

Q: ​Recently, More Money 4U offered an annuity that pays 6.3% compounded monthly. If $1,492 is…

A: Given:More Money 4U offered an annuity that pays 6.3% compounded monthly. If $1,492 is deposited…

Q: uppose you put $ 700 a month for retirement into an annuity earning 6.25% compounded monthly. If you…

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Q: PMT= $2,000, 2.00% compounded monthly for 4 years. The future value of the ordinary annuity is ?

A: From the given information, it is observed that the cash flow per period is $2000, interest rate is…

Q: Isn't this a General Annuity Due question?

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Q: A butcher shop knows that it mu"buy a new machine in 3 years. The machine costs $11,000. in order to…

A: Given formula  FV = PMT[ ( 1 + i )n - 1 i ] Where FV is the future value PMT = monthly payment  i is…

Q: 2. Determine the present value of the annuity which provides a payment of $750 every t an interest…

A: Formula for the annuity is  PV=R1+in-1i We are given R=$750n=5×4=20 quartersi=3.25400 (since 1 year…

Q: American general offers a 9 years annuity with a guaranteed rate9.76 compounded annually. How much…

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Q: Robert has accumulated $345,000 in a retirement savings plan. He would like to purchase an annuity…

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Q: What should be the balance in a Registered Retirement Income Fund (RRIF) that will provide $2,500 at…

A: To calculate the required balance in the RRIF, we can utilize the annuity formula and consider the…

Q: Bobby Sue has noticed some settling in one corner of the house’s foundation. The general contractor…

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Q: parents of a newborn boy begin saving for his college education. They plan to have $150,000 in a…

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Q: Bright Inc. will be receiving $5,300 at the end of every month for the next 4 years. If these…

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Q: A $9,000 loan borrowed today is to be repaid by 3 equal payments due 7 months from now, 3 year and 4…

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Q: u are considering taking out a loan of $20,000 that would be paid back over seven years with monthly…

A: Given: Loan amount = $ 20, 000 Monthly paid amount  = $ 289.30 over 7 years interest rate = 5.7%…

Q: George received a loan of $22,000 from the bank at 3.50% compounded monthly. If he had to repay $250…

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Q: Elena's son will enter college 16 year from now. At that time, she would like to have $20,000…

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Q: Bright Inc. will be receiving $5,300 at the end of every month for the next 3 years. If these…

A: [ FV = PV \cdot (1 + r/n)^{nt} ]Explanation: Where:(FV) is the future value (what we're solving…

Q: A second mortgage requires payment of $370 at the end of each month for fifteen years. If the…

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Q: Consider a retirement savings account where the monthly contribution is $110 for the first 25…

A: P1=PMT1+rnnt-1rn Where  PMT=$110,  t =  25 years,…