Question
1.Regular, periodic deposits of $8838 are made at the end of 7 years. What is the future value of the $8838 deposits if the annual
1.Regular, periodic deposits of $8838 are made at the end of 7 years. What is the future value of the $8838 deposits if the annual interest rate is 11.2%, compounded annually? Answer to two decimals. Do not use $ signs or commas.
2.Regular, periodic deposits of $4516 are made at the end of each month for 17 years. What is the future value of the $4516 deposits if the annual interest rate is 5%, compounded monthly? Answer to two decimals. Do not use $ signs or commas.
3.Regular, periodic deposits of $19895 are made at the end of each quarter for 12 years. What is the future value of the $19895 deposits if the annual interest rate is 10.6%, compounded quarterly? Answer to two decimals. Do not use $ signs or commas.
4.Your friend, soon after graduating from university, started investing by depositing $535 at the end of every month for 7 years, earning interest of 5.5% compounded monthly. At the end of the 7 years, the interest rate changed to 5.4% compounded quarterly and the payment changed to $3768 per quarter for another 16 years. How much will be in the account at the end of the 7 + 16 years?
5. An investor deposits $20697 at the end of each 6 month period for 18 years. If interest is 3.6%, compounded semi-annually, how much interest did the investor earn at the end of the 18 years? Answer to two decimals. Do not use $ signs or commas
6.Find the present value at the beginning of the first payment period of payments of $1747 made at the end of each month for 7 years with an interest rate of 12.9%, compounded monthly.
7.A newly married couple purchased a home with a $71055 down payment. They financed the remaining balance of the home with a mortgage. Their payments were $13145 at the end of every six months for 11 years and the interest rate was 8.1%, compounded semi-annually. How much did they purchase their home for. Enter to the nearest cent (two decimals).
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