6) Jamal plans to retire in 17 years He is saving S2000 every month in a retirement savings account paying him a long-term interest of 9% compounded semi-annually. What will be the stze ef his payments per month from the ordinary anmuity for 20 years following his retirement? A) $957 836 B) S372 S8618 D) S941 547 ) S721

Q: 1. Manda Bamkeng deposits Php 50,000 every beginning of the month for 4 years with 2% compounded…

A: Note: As per the rules of Bartleby,in case of multiple unspecified questions only the first question…

Q: Togo's monthly salary is $1080 and his monthly expenses are on average $750. Togo is looking at some…

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Q: On January 1, 2019, Alex deposited $2,000 into a savings account that pays interest of 10 percent,…

A: Deposit amount (P) = $2,000 Interest rate (r) = 10% Period (t) = 3 Years

Q: e). In which account will he have more money and by how much?

A: Regular annuity: Number of periods = 32 * 4 = 128 Quarterly rate = 7.3% / 4 = 1.825% Future value =…

Q: parents on thế first mon was able to pay P7,000 in 2023. He told his parents he used the money to…

A: In this we have to future values and than find out the present values to get the required amount.

Q: Bill plans to deposit $1,500 quarterly for 30 years at 5.5% Interest, compounded monthly. How much…

A: Formula for computing the amount Future value of series=PMT×p1+rnnt-1rn where 'p' is the number of…

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A: The future value of an annuity due is the total future value of each cash flow which is made at the…

Q: A man is planning to retire in 25 years. He wishes to deposit a regular amountevery three months…

A: Excel Spreadsheet: Excel Workings:

Q: When Austin retires in 18 years, he wants to receive $250.00 payments at the start of every month…

A: Retirement Period = 18 years payment = $250 Interest rate = 2.6% (Compounded semi annually)

Q: A man is planning to retire in 20 years Money can be deposited at 6% interest compounded monthly,…

A: For this we need to calculate compounded annually rate, i=(1+(r/m))^(m/q)-1 =(1+(0.06/12))^(12/1)-1…

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A: The computation of amount of investment is as follows:The investment needed today is the present…

Q: Ira Schwab opens up a Schwab IRA and places $2,000 in his retirementaccount at the beginning of each…

A: IS opens a retirement account and pays an annuity of $2,000 at the beginning of 10 consecutive…

Q: Jake plans to contribute $3600 at the end of each year to his IRA. If he earns a return of 8.5%…

A: Future Value Future value  is the worth of any asset or any sum of money at a future date when such…

Q: When Jasmine retires she has $950,000 in a retirement account that earns 6% annual interest,…

A: Using PMT function in excel

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A: We are given the future value here and we have to compute the amount of monthly deposits that will…

Q: 4. On retirement, Gilbert finds that his share of a pension fund is P1 500 000. If the fund is…

A: Standard Disclaimers“Since you have asked multiple question, we will solve the first question for…

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A: Payment = P10,000 Rate = 8%  Compounding = 4 times as payment is due in 3 months  The annuity is…

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A: Here we will use the concept of time value of money. The concept of time value of money states that…

Q: Charles wants to retire in 17 years. At that time he wants to be able to withdraw​ $22,000 at the…

A: Here, Retirement will be in 17 years Amount withdrawn is $22,000 Time duration of withdrawals is 19…

Q: Andrew would like a retirement income of $3,000 per month (beginning of month payments) for 19 years…

A: Retirement income is $3000 per month Time period is 19 Years Interest rate is 3.6%

Q: Bob wants $300,000 in his retirement account when he retires in 30 years. How much does he need to…

A: This question can be answered in light of future value of annuity. Annuity is a payment of equal…

Q: When Austin retires in 18 years, he wants to receive $250.00 payments at the start of every month…

A: given, till retirement: n = 18 years m = 2 r= 2.6% LET SEMI ANNUAL PAYMENT = A after retirement n =…

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A: solution the present value of annuity technique is used for the problem where the equal annual…

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A: Annual payments he will receive = $95000 Time period = 18 years  Interest rate = 8% Compounding =…

Q: Kobe is retiring in 19 years, and wants to save some money. He will make bi-weekly deposits of…

A: Bi-weekly Deposit = $513.38 Time Period = 19 Years Interest Rate = 2.750% compounded semi-annually

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A: Convert 8% compounded quarterly to its equivalent interest rate for monthly interval. Here, 'R'…

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A: Annuity refers to series of equalized payments that are made at start or end of definite period. It…

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: When Michelle retires in 12 years, she wants to receive $250.00 payments at the start o every month…

A: An annuity is the equal amount of payment that has to be paid over the period.

Q: Sergio plans to retire in 15 years. He would like to have $250,000 in his retirement account. If he…

A: Since the interest is compounded monthly, we should compute the effective interest rate.…

Q: Salem wishes to withdraw AED 30,000 at the end of each year of the next 6 years from his bank…

A: Annual withdrawal amount (A) = AED 30000 n = 6 years r = 10%

Q: An employee wants to retire and receive P 5 000 a month. She wants to pass this monthly payment to…

A: Here, Monthly payments = P 5,000  Interest rate = 8% compounded annually To Find: Present value of…

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: Me. Cruz plans to deposit for the education of his 5 years old son, 500 at the end of each month for…

A:

Q: s to retire in 5 years. To supplement his pension he would like to receive $150 every months for 20…

A: There is need of proper planning for retirement and if you do proper planning for retirement than…

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Q: Gerein wishes to have P35,000 when he retires 15 years from now. If he can expect to receive 4%…

A: The future value of annuity due is the total future value of each cash flow which is made at the…

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A: Computation of monthly income:

Q: John purchases an annuity due paying 6 % quarterly. If his payment is $ 250, the amount value will…

A: Annuity due is an annuity whose payment is due immediately at the beginning of each period.

Q: Don Harrison's current salary is $60,000 per year, and he is planning to retire 25 years from now.…

A: Excel Spreadsheet:

Q: Sam Salverri is planning to retire in 15 years. Money can be deposited by 8% compounded quarterly.…

A: in this we have to calculate monthly interest rate and from that we can get required value.

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

A: Mae expects to receive at the end of each of next three years = $1000 She will deposit these…

Q: Bob purchases an annuity that will pay him $10,000 a year for the next 15 years starting a year from…

A: Present Value of Ordinary Annuity refers to the concept which gives out the discounted or today's…

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A: The interest rate is the rate at which the specific amount is accumulated at the end of the period…

Q: Mrs. Nash will contribute $200 to her RRSP at the end of each month for 15 years. How much more…

A: The extra amount that she will have due to increased saving is calculated as difference in amount…