Acme Annuities recently offered an annuity that pays 4.5% compounded monthly. What equal monthly deposit should be made into this annuity in order to have $85,000 in 19 years? The amount of each deposit should be $ (Round to the nearest cent.)

Q: An ordinary annuity pays 7.92​% compounded monthly.   ​(A) A person deposits ​$150 monthly for 30…

A: Given:

Q: you have a 12-year annuity paying $496 quarterly in 10 years when interest is 6.65% compounded…

A: Number of annuity payments = Number of years * time period of Payment = Number of years * Quaterly…

Q: Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $827 is deposited…

A: Calculate the future value as follows:MS-Excel --> Formulas --> Financials --> FV

Q: A thirty-year annuity has end-of-month payments. The first year the payments are each $120. In…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: A ten-year annuity has an interest rate of 12% with individual cash flows of $150 at every end of…

A: Time period = 10 years  Interest rate = 12%  Cash flows = $150

Q: n annuity pays $4152 per month, and payments are made at the end of each month. If the interest rate…

A: Present value of annuity can calculated by using Excel PV function.

Q: American General offers a 19-year annuity with a guaranteed rate of 4.39% compounded annually. How…

A: Calculation of Amount the pay for the Annuity:The amount the pay for the annuity is $24,147.76.Excel…

Q: If you borrow $8,000 with a 5 percent interest rate to be repaid in five equal payments at the end…

A: Computation:

Q: Find the future value of an ordinary annuity of $6,000 paid quarterly for 2 years, if the interest…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Using the formula for an annuity, what would be the monthly payments on a 5-year fixed-rate car loan…

A: Loan amortization refers to a schedule which is prepared to shows the periodic loan payments, amount…

Q: What is the present value of the annuity if it is paid over three years (starting immediately)?

A: For the first year, payment = $15,000 For second year = $15,000 x 0.970 = $14,550 For third year =…

Q: PNC's 30-year annuity is scheduled to pay off a loan taken out today at a 5% annual effective…

A: given, year (n) = 30 rate = 5% first annuity at t=10, amount= $10,000 then annuity increase by $5000…

Q: A 16-year annuity pays $1,900 per month, and payments are made at the end of each month. The…

A: The question is based on the concept of present value of future annuity payments . Annuity payments…

Q: y-year annuity pays $940 per month at the end of each month. For the first seven years, the nominal…

A: As the compounding increases the interest rate become more effective and more is future value and…

Q: An annuity with a cash value of $9,800 pays $880 at the beginning of every three months. The…

A: a) No. of payment =12.08 or 13 b) size of final annuity payment = $880

Q: Acme annuities recently offered an annuity that pays 6.0% compounded monthly. What equal monthly…

A: We use PMT function in financial calculator or excel to solve monthly payments

Q: If 5 deposits of $600 each are made into an account at the end of years 9, 10, 11, 12, and 13, what…

A: Deposit in year 9,10,11,12 and 13 = $ 600 Future value period = Year 25 Annual interest rate = 12%

Q: How much money do you need now to set up a perpetuity that pays $2,000 at the end of each quarter if…

A: In finance, there are two types of series of cash flows, i.e., an annuity, and perpetuity. An…

Q: Suppose payments were made at the end of each quarter into an ordinary annuity earning interest at…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: An annuity with a cash value of $14,000 earns 5% compounded semi-annually. End-of-period semi-annual…

A: Cash Value = $14,000 Interest Rate = 5% compounded semi annual

Q: Calculate the future value for this annuity if interest is compounded semi-annually and Calculate…

A: Future value of an investment refers to the sum total value of account at a specified future date…

Q: American General offers a 16-year annuity with a guaranteed rate of 4.84 % compounded annually. How…

A: Interest rate = 0.0484 Annuity period = 16 years Annual payment = $900 Present value or amount…

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: If you want to be paid from a l13 year ordinary annuity with a guaranteed rate of 3.09% compounded…

A: The annuity refers to the series of payments or receipts that last over a specific period of time.…

Q: If $75,000 is used to purchase an annuity that pays $950 a month, and if the interest rate is 9%…

A: Price of Annuity = 75,000 Monthly Compounding Annuity Payment per month = 950 Interest Rate = 9%/12…

Q: Acme Annuities recently offered an annuity that pays 4.2% compounded monthly. What equal monthly…

A: given information  interest rate = 4.2 = 4.2100 = 0.042   monthly rate = 0.04212 = 0.0035  future…

Q: If you have a 13-year annuity paying $209 quarterly beginning in 6 years when interest is 3.13%…

A: First payment takes place in the beginning of 6th year. The payments are made quarterly.

Q: Acme Annuities recently offered an annuity that pays 3.6% compounded monthly. What equal monthly…

A: Each period payment is considered as PMT.

Q: An annuity that pays $950 at the end of each month for 18 years sells for $105,000 What was the…

A: Annuity payment each month = 950 End of month payments Price of annuity = 105,000 N = 18 years i.e.…

Q: annuity offers to pay you $1,000 per quarter for 20 years. If you want to earn a rate of return of…

A: Answer: Calculation of the maximum amount that you are willing to pay as a lump sum today to obtain…

Q: An ordinary annuity pays 8.28% compounded monthly. (A) A person deposits $100 monthly for 30 years…

A: Annuity means regular periodic payments. An ordinary annuity is for periodic payment that takes…

Q: Acme Annuities recently offered an annuity that pays 5.4% compounded monthly. What equal monthly…

A: We need to use future value of ordinary annuity formula to calculate monthly deposit or payment. PMT…

Q: Acme Annuities recently offered an annuity that pays 5.4% compounded monthly. What equal monthly…

A: The monthly payment required to reach the target can be calculated with the help of future value of…

Q: A student will receive 3,000 at the beginning of each months for 4 years. What is the sum of this…

A: Annuities are referred to as the contracts that are issued as well as distributed by the financial…

Q: A 10-year annuity pays P900 four times in year. The first P900 will be paid five years from now. If…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

Q: American General offers a 10-year annuity with a guaranteed rate of 9.39% compounded annually. How…

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

Q: Suppose payments were made at the end of each month into an ordinary annuity earning interest at the…

A: Future value of annuity = P * [ (1+r)^n  - 1 ] /r  Where, r= rate of interest i.e. 9%/12 = 0.75% or…

Q: A retirement account has $260,000.00 that will be used to start an annuity that earns 4.1%,…

A: Please see the next step for the solution

Q: A certain annuity pays $108 at the end of every 3 months. If the present value of the annuity is…

A: Annuity means a set of a finite number of payments that are made in equal time intervals and the…

Q: Handwritten: An 11-year annuity pays $1,800 per month, and payments are made at the end of each…

A:

Q: An increasing annuity makes annual payments, and the first payment occurs in 6 months. The annuity…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: American General offers a 16-year annuity with a guaranteed rate of 6.07% compounded annually. How…

A: Given Information Annual amount = $2000 Annual interest rate = 6.07% Number of years = 16

Q: Find the future value of an ordinary annuity of $2,000 paid quarterly for 2 years, if the interest…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Acme Annuities recently offered an annuity that pays 6.0% compounded monthly. What equal monthly…

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

Q: You expect to make equal payments of $ 9020.00 at the end of each of the next 6 years (ordinary…

A: Future value of ordinary annuity = Annual payment x [(1 + i)n - 1]/i

Q: An ordinary annuity pays 8.16% compounded monthly. A person deposits $200 a month for 30 years and…

A: We use PMT function in excel or financial calculator to calculate monthly withdrawal  interest…