On a girl's 10th birthday, her father started to deposit P5,000 quarterly at the end of each term in a fund that pays 1% compounded monthly. How much will be in the fund on his daughter's 17th birthday? *
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- 6. To support his handicapped niece, Tony made payments of $1800 into a fund at the beginning of every 3 months. If the fund earns interest at 5.24% compounded quarterly, how much will the balance in the fund be after 18 years?On Sarah’s 18th birthday, she creates a trust fund to pay her a sequence of nine semiannual payments of 15,000; the first is due on her 23rd birthday. If the fund earns 6.5% compounded semiannually, find the present value of the deferred annuity.At age 60, a man established a trust fund of R20 000 which will pay his family a regular amount at the end of each month for 12 years after his death. If he dies at age 65, what monthly sum will the family receive if the fund earns 3% p.a. compounded monthly and if the first payment will be made 1 month after his death?
- d. On the day of his son's birth, a father decided to establish afund for the boy's college education. The father wants theson to be able to withdraw $4000 from the fund on his 18thbirthday, again on his 19th birthday, again on his 20thbirthday, and again on his 21st birthday. If the fund earnsinterest at 9% per year, compounded quarterly, how muchshould the father deposit at the end of each year, up throughthe 17th year? include a non-excel cashflowNewman Hitchcock is 37 years old today and he wishes to accumulate $536,000 by his 60 th birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 37 th through his 59 th birthdays. What annual deposit must Newman make if the fund will earn 10% interest compounded annually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) I put 65845.4009 but it says that isn't correct so I'm confused, I used my calculator and not the tables.Since the birth of his daughter, 15 years ago, Natalie has deposited $180.00 at the beginning of every month into an RESP. The interest rate on the plan was 3.90% compounded monthly for the first 10 years and 5.00% compounded monthly for the next 5 years. a. Calculate the value of the fund today (the end of a 15-year term). b. How much of this is interest? Leah deposited $15,000 into a fund at the beginning of every quarter for 10 years. He then stopped making deposits into the fund and allowed the investment to grow for 3 more years. The fund was growing at 5.72% compounded monthly. a. What was the accumulated value of the fund at the end of year 10? b. What was the accumulated value of the fund at the end of year 13? c. What is the total amount of interest earned over the 13-year period?
- Mia will retire 10 years from now and wants to establish a fund today that will pay $48,000 cash at the end of each of the first five years after retirement. Specific dates are these: date of a single deposit by Mia, January 1, year 1; date of first cash payment from the fund to Mia, December 31, year 11. The fund will pay 10% compound interest. How much cash must Mia deposit on January 1, year 1, to provide the five equal annual year-end cash payments from the fund? $AnswerMia will retire 10 years from now and wants to establish a fund today that will pay $30,000 cash at the end of each of the first five years after retirement. Specific dates are these: date of a single deposit by Mia, January 1, year 1; date of first cash payment from the fund to Mia, December 31, year 11. The fund will pay 10% compound interest. How much cash must Mia deposit on January 1, year 1, to provide the five equal annual year-end cash payments from the fund?For her daughter's university education, Carla Hackl has invested an inheritance in a fund paying 9.2% compounded quarterly. If ordinary annuity payments of $4750.00 per month are to be made out of the fund for 5 years and the annuity begins 7.75 years from now, how much was the inheritance
- New parents wish to save for thier newborn's education and wish to have $36,000 at the end of 18 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 5.6% compounded annually? (round your answer to two decimal places). How much interst would they earn over the life of the account? Determine the value of the fund after 12 years.Humng Katherine set up a fund that would pay his family $3,000 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 3.00% compounded semi-annually?