Question
1). Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.) $1800/semiannual period for 8 years at 3.5%/year compounded
1). Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.)
$1800/semiannual period for 8 years at 3.5%/year compounded semiannually
2). Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.)
$300/week for 61/2 years at 3.5%/year compounded weekly
3). If Jackson deposits $100 at the end of each month in a savings account earning interest at a rate of 2%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 years, assuming he makes no withdrawals during that period? (Round your answer to the nearest cent.)
4). The Pirerras are planning to go to Europe 4 years from now and have agreed to set aside $130/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 4%/year compounded monthly, how much money will be in their travel fund at the end of the fourth year? (Round your answer to the nearest cent.)
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