1)Amy deposits $800 at the end of every month for 2 years and 11 months in a retirement fund at 3.50% compounded quarterly.

How many payments are there in this annuity?

What type of annuity is this?

2)How much should Travis have in a savings account that is earning 3.50% compounded monthly, if she plans to withdraw $2,200 from this account at the end of every month for 4 years?

3)Corey saved $130 at the end of every month for 4 years in her bank account that earned 6.40% compounded monthly.

a. What is the accumulated value of her savings at the end of the period?

b. What is the interest earned over the period?

4)Calculate the amount of money Amy had to deposit in an investment fund growing at an interest rate of 2.50% compounded annually, to provide her daughter with $15,500 at the end of every year, for 4 years, throughout undergraduate studies.

5)Travis purchases a retirement annuity that will pay him $2,500 at the end of every six months for the first eleven years and $500 at the end of every month for the next five years. The annuity earns interest at a rate of 2.1% compounded quarterly.

a. What was the purchase price of the annuity?

How much interest did Travis receive from the annuity?

6)Brittany deposited $1,300 at the end of every month into an RRSP for 9 years. The interest rate earned was 5.75% compounded semi-annually for the first 3 years and changed to 6.00% compounded monthly for the next 6 years. What was the accumulated value of the RRSP at the end of 9 years?