#31 please explain…. do not give me the wrong answer ne following mati27. Dr. Jane KodiakThe HMO will pay her $1.5 millie$500,000 partial payment now and additionalof $140,000 at the end of each year for the next 10 years. Ifmoney is worth 6.5% compounded annually, is it better totake $1.5 million now or $500,000 now and $140,000 at theend of each year for the next 10 years? Justify your choice.28. As a result of a court settlement, an accident victinmis awarded $1.2 million. The attorney takes one-thirdof this amount, another third is used for immediateexpenses, and the remaining third is used to set upan annuity. What amount will this annuity pay at thebeginning of each quarter for the next 5 years if theannuity earns 7.6% compounded quarterly? 029. Recent sales of some real estate and record profits makeit possible for a manufacturer to set aside $800,000 ina fund to be used for modernization and remodeling.How much can be withdrawn from this fund at thebeginning of each half-year for the next 3 years if thefund earns 7.7% compounded semiannually? W37. Juanita Dtrust fordrawalsfrom nR3-3R1terly, Fthis t38. A ret2 - RI20 pouramoFir39. A$.lowing syring.30. A $2.4 million state lottery pays $10,000 at the begin-ning of each month for 20 years. How much moneymust the state actually have on hand to set up thepayments for this prize if money is worth 6.3% com-40pounded monthly? iaiunns31. How long will an account worth $2.2 million provide$10,000 at the end of each month, if5.4% compounded monthly?I money is worthte ysi32. A college class's 25th reunion gift is $8.6 million. Howsir many semiannual payments of $250,000 will this pro-vide at the beginning of each 6-month period if moneyis worth 4.4% compounded semiannually?33. A used piece of rental equipment has 25 years of usefullife remaining. When rented, the equipment brings in$800 per month (paid at the beginning of the month).If the equipment is sold now and money is worth 4.8%compounded monthly, what must the selling price beto recoup the income the rental company loses by sell-ing the equipment "early"?34. As a result of a court settlement, a financial firm agreto pay $13.4 million to Ford Motor Company, with Smillion of it going to a Ford charitable trust (Source

Question

#31 please explain…. do not give me the wrong answer ne following mati27. Dr. Jane KodiakThe HMO will pay her $1.5 millie$500,000 partial payment now and additionalof $140,000 at the end of each year for the next 10 years. Ifmoney is worth 6.5% compounded annually, is it better totake $1.5 million now or $500,000 now and $140,000 at theend of each year for the next 10 years? Justify your choice.28. As a result of a court settlement, an accident victinmis awarded $1.2 million. The attorney takes one-thirdof this amount, another third is used for immediateexpenses, and the remaining third is used to set upan annuity. What amount will this annuity pay at thebeginning of each quarter for the next 5 years if theannuity earns 7.6% compounded quarterly? 029. Recent sales of some real estate and record profits makeit possible for a manufacturer to set aside $800,000 ina fund to be used for modernization and remodeling.How much can be withdrawn from this fund at thebeginning of each half-year for the next 3 years if thefund earns 7.7% compounded semiannually? W37. Juanita Dtrust fordrawalsfrom nR3-3R1terly, Fthis t38. A ret2 - RI20 pouramoFir39. A$.lowing syring.30. A $2.4 million state lottery pays $10,000 at the begin-ning of each month for 20 years. How much moneymust the state actually have on hand to set up thepayments for this prize if money is worth 6.3% com-40pounded monthly? iaiunns31. How long will an account worth $2.2 million provide$10,000 at the end of each month, if5.4% compounded monthly?I money is worthte ysi32. A college class's 25th reunion gift is $8.6 million. Howsir many semiannual payments of $250,000 will this pro-vide at the beginning of each 6-month period if moneyis worth 4.4% compounded semiannually?33. A used piece of rental equipment has 25 years of usefullife remaining. When rented, the equipment brings in$800 per month (paid at the beginning of the month).If the equipment is sold now and money is worth 4.8%compounded monthly, what must the selling price beto recoup the income the rental company loses by sell-ing the equipment &#34;early&#34;?34. As a result of a court settlement, a financial firm agreto pay $13.4 million to Ford Motor Company, with Smillion of it going to a Ford charitable trust (Source

Accepted Answer

Here we solve the given problem of Algebra.

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