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.)

Q: how long in years and months will she receive the payments

A: RRSP: RRSP stands for Registered Retirement Savings Plan. RRSP is a kind of retirement savings and…

Q: 7. Sonia invested P 2,100 and left it for 9 years where the time in which the principal was…

A: The time value of money (TVM) becomes an important factor for capital budgeting decisions. It is an…

Q: New parents wish to save for their newborn's education and wish to have $46,000 at the end of 17…

A: Computation of yearly payment:Hence, the yearly payment is -$1,682.02.

Q: 14. In the following ordinary annuity, the interest is compounded with each payment, and the payment…

A: Following information are given: For JOE: Annual investment = $5000 Time = 30 years Rate = 9.1%…

Q: 6. To support his handicapped niece, Tony made payments of $1800 into a fund at the beginning of…

A: given data pmt = $1800  interest = 5.24% time period = 18 years fund deposited every 3 months   so…

Q: Starting on the day he retires, Bob wants to receive payments of $10,000 at the beginning of each…

A: Present value of the amount is the worth of that amount in current times that is expected to be…

Q: 2. Joan contributes $4000, AT THE BEGINNING of each quarter, for 10 years to an account that earns…

A: Here, Quarterly Contribution is $4,000 Time Duration for Contribution is 10 years Interest Rate is…

Q: 9. Daniel Plans to fund his individual retirement account, beginning at the end of each year with 20…

A: The future value is the future worth of the amount that will be paid or received at future.

Q: Crystal Nelson is 30 years old and she invests $3,300 in an annuity, earning a 8% compound annual…

A: PV = 0 N = 21 rate = 8% PMT = 3300 use FV function in Excel with type as 1

Q: if you owe $35,000 payable at the end of eight years, what amount should your creditor accept in…

A: Amount due after 8 Years (FV) = $ 35000 Interest rate (r) = 13% Period (n) = 8 Years

Q: I want 800000 for retirement in 25 years. How much would she need to deposit into the account each…

A: Future value (FV) = 800,000 Period = 25 Years Number of monthly deposits (n) = 25*12 = 300 Interest…

Q: 7. Kate deposits $9,900 each yearinto her retirement account. If these funds have an average eaming…

A: Given, A=$9900 r=11% n=40 years

Q: Karen deposits 700 each month into an annuity that pays 12% annual interest at the end of each year.…

A: solution given Deposits each month (p) 700 Rate of interest (r) 12% Time period…

Q: Connie deposits $2000 at the end of each year into her Individual Retirement Account IRA. It earns…

A: Annuity: a contract that provides income for a specified period of years, or for life. Future value…

Q: Tina saved $679,000 for her retirement annuity. If she wants it to last her 30 years, earing 4.56%…

A: An annuity is a stream of equivalent periodic cash flows that occurs over a specific time duration.…

Q: Starting at age 25, you deposit $2,000 a year into an IRA account. Treat the yearly deposits into…

A:

Q: New parents wish to save for their newborn's education and wish to have $37,000 at the end of 18…

A: Given  P=$37,000 r= 7.8% n=1 t=18 years

Q: Denise has $180,983 saved for her upcoming retirement and will make no further contributions. She…

A: Interest rate = 5% compounded semiannually Annuity amount (A) = $5000 per quarter for 20 years (80…

Q: Eugene began to save for his retirement at age 27, and for 14 years he put $ 275 per month into an…

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos…

A: The annuity payments that are made at the beginning of the year are called annuity due and the ones…

Q: Alicia has $350,000 saved for retirement in an account earning 3.2% interest, compounded quarterly.…

A: Present Value of Annuity = Annuity Amount * [ {1 / ( 1 + periodic interest rate ) } + {1 / ( 1 +…

Q: At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8%…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: Your grandmother set up an annuity, in which she will receive a monthly payment from the bank of…

A: The present value of an annuity is the present value of a series of cash flows at a certain rate of…

Q: Five years ago, a person borrowed $100,000 at an interest rate of 8% per year compounded…

A: Given,  The loan amount is $100,000 Interest rate is 8%

Q: Alejandra has an payout annuity that pays 66% annual interest compounded monthly. This is a 2020…

A: To solve this question, firstly have to take $10,000 as the present value and by using Annuity…

Q: 11. Sandra Bellows 65 years old purchased an annuity for $25,000. Starting at the beginning of the…

A: An annuity seems to be a type of insurance contract that is produced and delivered by financial…

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: Iris expects to receive $1,000 at the end of each of the next three years. She will deposit these…

A: Payments = 1000 Semi Annual Compounding, Time Period = 3 years * 2 = 6 semi annual periods Interest…

Q: 4. Mr. Thomas will receive $8,500 a year for the next 15 years from her trust. If a 7 percent…

A: Introduction: The present value of annuity due refers to the current value of a series of future…

Q: ne began to save for his retirement at age 30, and for 13 years he put $ 250 per month into an…

A: Future value of annuity is the future value of all the stream of cash flow. Future value of annuity…

Q: nd thereafter he wishe

A: The concept of time value of money states that worth of money changes with passage of time. This is…

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: 7. When she was 4 years old, Jane's parents set up an annuity for her college education, with the…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: 24. John has deposited $3,000 today in an account paying 5 percent interest annually. What would be…

A: In this question we are required to calculate simple interest and also compound interest earned on…

Q: Sonia sets aside £125 at the start of each month in a savings scheme paying 14% p.a. compounded…

A: Compound Interest =A=P(1+rn)nt A = final amount P = initial principal balance r = interest rate n =…

Q: Mrs. Santos deposits P5,500 at the end of every six months in a savings account for her daughter's…

A: Deposit = 5500 every 6 months End of month deposits Interest rate = 4% semi annual period N = 21…

Q: Shelly deposits the $2000 she got as a birthday gift from her grandmother into an account earning…

A: The company would be considering the value for future through the compounding of interest rates over…

Q: Sally has a sum of $19000 that she invests at 7% compounded monthly. What equal monthly payments can…

A: Present value (P0) = $19000 Monthly interest rate (r) = 0.00583333333333333 (i.e. 0.07 / 12) Monthly…

Q: 29. Micheline wishes to purchase a 25-year annuity providing payments of $1000 per month for the…

A: Payment to purchase Micheline:$1000 per month for the first 15 years, Term=15×12=180 periods$1500…

Q: Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA…

A: Case 1 ) Periodic Payment = $4500 annually Interest Rate = 9% p.a compounded annually. Case 2 )…

Q: How much money did he have for retirement?

A: Future Value of Annuity: It is the future worth of the present annuity stream cash flows and is…

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

A: Given the information in question Monthly deposit =$125 Interest rate =4.68%(monthly) ( I assume it…

Q: Lydia deposits $900 at the end of each year for 9 years in a savings account. The account pays 8%…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: A woman makes $200 contributions at the end of each month to a retirement account for a period of 10…

A: Value at end of contribution period is calculated by future value of annuity formula in excel i.e.…

Q: Suppose Brianna invests $1300 each year for 5 years, in annuity that pays 6% annual interest,…

A: Future value of annuity  = P * [ (1+r)^n  - 1 ] /r  Where, P = 1300 r = 6% n = 5 years

Q: To save money for her son's college tuition, Jane invests $104 every month in an annuity that pays…

A: Annuity is the number of payments made by a person at frequent intervals of time. Annuities are used…

Q: Annette has just inherited $180,000. She invests this money at a rate of return of 6.47% per year…

A: Given: Present value $180,000 Rate 6.47% Another annuity $2,851 Years 20 Compounding…

Q: Asa has invested money from the settlement of an insurance claim. She plans to withdraw $1,560 from…

A: Using excel PV function to calculate the insurance settlement