Find the Future Value of an Ordinary Annuity if it pays an amount of $11,264 at an interest rate of 9.20% for 17 years. $436,708.18 B $424,190.44 $440,812.59 $439,297.41

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
icon
Related questions
icon
Concept explainers
Question

help please thank you no need solution

1
Find the Future Value of an Ordinary Annuity if it pays an amount of $11,264 at an interest rate of 9.20% for 17 years.
$436,708.18
B) s424,190.44
$440,812.59
D s439,297.41
Alvin borrowed a certain amount from John, which has to be paid regularly with an amount of $12,000 for 6 years. However, Alvin
told his friend that this loan will have a rate of deferral equal to a maximum of 2 years. If the interest rate is at 8% compounded
semi-annually, what is the Present Value?
A s89,742.75
B) s104,124.34
$92,513.29
$96,268.80
3
Suppose you want to save money for your child's college expenses. You dep
an interest rate of 5%. How much is available for your child when he or she starts school?
000 at the beginning of each year for 18 years, at
A s27,205.00
B) s29,539.00
$28,631.00
$25,419.00
Transcribed Image Text:1 Find the Future Value of an Ordinary Annuity if it pays an amount of $11,264 at an interest rate of 9.20% for 17 years. $436,708.18 B) s424,190.44 $440,812.59 D s439,297.41 Alvin borrowed a certain amount from John, which has to be paid regularly with an amount of $12,000 for 6 years. However, Alvin told his friend that this loan will have a rate of deferral equal to a maximum of 2 years. If the interest rate is at 8% compounded semi-annually, what is the Present Value? A s89,742.75 B) s104,124.34 $92,513.29 $96,268.80 3 Suppose you want to save money for your child's college expenses. You dep an interest rate of 5%. How much is available for your child when he or she starts school? 000 at the beginning of each year for 18 years, at A s27,205.00 B) s29,539.00 $28,631.00 $25,419.00
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Fundamentals of Algebraic Equations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax