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19. What is the future value of a series of 15 annual payments of $750 starting in one year and earning 7% compounded annually? A.
19. What is the future value of a series of 15 annual payments of $750 starting in one year and earning 7% compounded annually? A. $6,831 B. $12,038 C. $17,673 D. $18,847 E. $32,848 20. Terri and Larry plan to invest $5,000 at the end of each year in an individual retirement account earning a rate of return of 11% compounded annually. What will be the value of the account after 15 years? A. $119,864 B. $172,027 C. $198,215 D. $214,739 E. $359,543 21. A life insurance company will sell a 20-year annuity paying $1600 at the end of each month for $175,000. What quarterly compounded nominal rate of interest will the annuitant earn? A. 9.401% B. 8.735% C. 9.226% D. 9.335% E. 9.297%
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