Sam deposits $800 at the end of every 6 months in an account that pays 7%, compounded semiannually. How much will he have at the end of 9 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. ordinary annuity annuity due (b) Solve the problem. (Round your answer to the nearest cent.)

Q: Shawn purchases a retirement annuity that will pay him $1,000 at the end of every six months for the…

A: Present value of annuity Annuity is a series of equal payments at equal interval over a specified…

Q: Jackie deposits GH¢200 at the beginning of each month for 5 years in an account paying nterest at 10…

A: Using excel FV function

Q: Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If…

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Q: Adam purchases a retirement annuity that will pay him $1,500 at the end of every six months for the…

A: Semi Annual Payment  $              1,500.00 Time Period (years) 8 Interest rate 4% Monthly…

Q: Andrea is depositing P4, 000 each month in an ordinary annuity that pays 2% interest compounded…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Henry Jones is planning to retire in 15 years. He wishes to deposit an equal amount (A) every 6…

A: Time period = 15 years  Time duration semi-annual compounding Interest rate = 14% Semi-annual…

Q: Joe plans to deposit $300 at the end of each month into a bank account for a period of 3 yr, after…

A: To solve this question we have to first find the future value of monthly annuity of $ 300 after…

Q: Ethan deposits $750 at the end of every month for 3 years and 1 months in a retirement fund at 3.86%…

A: The series of cash flows that are equal in amount and complete series is either positive or negative…

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: Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. What is n for the…

A: Basic Details: Investment = $8400 Time = 8 Years and 10 Months Interest = 5% semi Annually

Q: David invests $300 into an account with a 2.3% interest rate that is compounded semiannually. How…

A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…

Q: Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n…

A: Future value of present sum depends on whether it is simple interest or compounded…

Q: in 8 years (a) What amount should he deposit at the end of each quarter at 6% compounded quarterly…

A: We need to use PMT formula to calculate quarterly payment. PMT =FV*i(1+i)n-1 where FV =future value…

Q: Jane Adele deposits $1,700 in an account at the beginning of each 3-menth period for 12 years. If…

A: If the amount is deposited at end of each period, then such annuity is called ordinary annuity. If…

Q: In the following ordinary annuity, the interest is compounded with each payment, and the payment is…

A: We need to use ordinary annuity formula to calculate future value of all annuity payment Future…

Q: Alice Reed deposits $16,500 in Rye Bank, which pays 10% interest compounded semiannually.  What will…

A: In this we have to calculate the future value of the present value.

Q: Sam deposits $900 at the end of every 6 months in an account that pays 6%, compounded semiannually.…

A: a) Answer: Option a. Ordinary annuity. Explanation: Since the payments are made at the end of every…

Q: Manuel is preparing for an income fund for his retirement. He wants to receive P 15 500 at the…

A: Let the amount to deposit now = X Monthly payout (M) = P 15500 n = 25 years = 300 months r = 10.5%…

Q: Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded…

A: Answer: Calculation of the amount that Ken borrowed: The amount that Ken borrowed will be equal to…

Q: open an annuity with $5,200.00 and makes monthly payments of $270.00 paid at the end of each month…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: At the end of every week, for 2 years, Carlo puts $35 into an account that earns 5.2% per year,…

A: If an individual is regularly depositing certain account at the beginning of the period it would be…

Q: Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long…

A: Compound interest is one of the form of interest under which interest is charged on both principal…

Q: Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14%…

A: Given data; payment amount= $75 number of years = 15 annual rate = 3.14% compounding frequency = 4…

Q: Randall will make deposits of $3,130 at the end of every year into an account earning 3.29%…

A: Ordinary General Annuity is the annuity when payment is made at the beginning or end of each month…

Q: At the end of each quarter, a 52-year-old individual puts $1600 in a retirement account that pays…

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

Q: andez wishes to have $368,765 in a retirement account 15 years from now. What payment would Noime…

A: There is need of proper planning for the retirement and proper planning lead to have good money on…

Q: Alejandra has an payout annuity that pays 66% annual interest compounded monthly. This is a 2020…

A: To solve this question, firstly have to take $10,000 as the present value and by using Annuity…

Q: In the following ordinary annuity, the interest is compounded with each payment, and the payment is…

A: FUTURE VALUE OF ANNUITY FORMULA: FVA=A×1+RMM×N-1RM WHERE, A= ANNUITY R=INTEREST M=FREQUENCY OF…

Q: Jason takes out a loan at 10% compounded annually for 7 years. At the end of this period, he pays…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…

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 =…

Q: Kelly Malone plans to have $50 withheld from her monthly paycheck and deposited in a savings account…

A:

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

A: Payments = 1000 Semi Annual Compounding, Time Period = 3 years * 2 = 6 semi annual periods Interest…

Q: What is the value of the account at the end of 9 years?

A: Depositing equal amounts at the end of the period for a fixed time period is in the form of an…

Q: At the end of every 3 months, Sam deposits $150 into an account that pays 6% compounded quarterly.…

A: Investors invest in particular securities with an expectation of receiving some gains in future. The…

Q: As part of her retirement planning, Mrs. Smith purchases an annuity that pays 16 % compounded…

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

Q: To prepare for an early retirement, a self-employed businessman makes deposits of $6200 at the begin…

A: Investment means engaging your funds to accumulate the required amount when needed. It follows the…

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: Mason owes $6,700 on his credit card. The bank charges an annual interest rate of 12%, compounded…

A: Amount owes by Mason $6,700 Interest Rate (12% /12) 1% Period  13

Q: Cena deposits a certain amount of money into his family’s savings account at the beginning of each…

A: Future value = $ 100,000 Period = 4 Years Period in quarters = 4*4 = 16 Annual interest rate = 8%…

Q: At the end of each quarter, Patti Deposits $700 into account that pays 12% interest compounded…

A: In order to find the ending amount one needs to find the future value.

Q: Lydia deposits $900 at the end of each year for 9 years in a savings account. The account pays 8%…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: how large must each payment be for you to end up with $1,000 on January 1, 2022?

A: Time value of money (TVM) means that the amount of money received in the present period will have…

Q: A woman makes $200 contributions at the end of each month to a retirement account for a period of 10…

A: Value at end of contribution period is calculated by future value of annuity formula in excel i.e.…

Q: Robert wants to have $2,300 at the end of every three months for 8 years. The bank pays 8% interest,…

A: Here, To Find: Present value of annuity due =?

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: Mr. Nina borrows $425,000 from the bank at 3.5% per year interest over a 30-year period. He can make…

A: Amount borrowed = $425000 Interest rate = 3.5% Period = 30 years  Monthly payment = $1400

Q: ohn deposits Ghs|250 at the of each month for 5 years account that credits interests at a nominal…

A: Annuity means where regular payment is made at the end of regular period and full amount with…