2. [0/1 Points] DETAILS PREVIOUS ANSWERS HARMATHAP 12 6.3.009. MY NOTES PRACTICE ANOTHER The Weidmans want to save $35,000 in 2 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to meet their goal? (Round your answer to the nearest cent.) $ 1308.60 X Need Help? Read It Submit Answer 3. [-/1 Points] DETAILS HARMATHAP12 6.3.012. MY NOTES If $3000 is deposited at the end of each half year in an account that earns 6.7% compounded semiannually, after how many half years will the account contain $140,000? (Round your answer UP to the nearest half year.) half years Need Help? Read It Watch It Submit Answer 4. [-/1 Points] DETAILS HARMATHAP12 6.3.017. MY NOTES Find the future value of an annuity due of $1,000 paid at the beginning of each 6-month period for 6 years if the interest rate is 4%, compounded semiannually. (Round your answer to the nearest cent.) $ Need Help? Read It Submit Answer 5. [-/1 Points] DETAILS HARMATHAP12 6.3.019. MY NOTES How much must be deposited at the beginning of each year in an account that pays 6%, compounded annually, so that the account will contain $28,000 at the end of 7 years? (Round your answer to the nearest cent.) $ Need Help? Read It Submit Answer6. [-/2 Points] DETAILS HARMATHAP12 6. MY NOTES Jake Werkheiser decides to invest $8000 in an IRA at the end of each year for the next 12 years. If he makes these investments, and if the certificates pay 10%, compounded annually, how much will he have at the end of the 12 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It Submit Answer 7. [-/2 Points] DETAILS HARMATHAP12 6.3.027.MI. MY NOTES A family wants to have a $190,000 college fund for their children at the end of 21 years. What contribution must be made at the end of each quarter if their investment pays 7.8%, compounded quarterly? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ Need Help? Read It Master It Submit Answer 8. [-/2 Points] DETAILS HARMATHAP12 6.3.030. MY NOTES Sam deposits $200 at the end of every 6 months in an account that pays 7%, compounded semiannually. How much will he have at the end of 7 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It Submit Answer9. [I2 Points] DETAILS HARMATHAP12 6.3.035. MV NOTES Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college, How much must they contribute at the beginning of each month in an Investment that pays 9%, compounded monthly, it they want the balance to be $190,000 at the end or 18 years? (a) state whether the problem relates to an ordinary annuity or an annuity due, 0 ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) 5 Need Help? Submit Answer 10. [-/2 Points] DETAILS HARMATHAP12 6.3.037. MV NOTES Jane Adele deposits $1,300 in an account at the beginning of each 3-month period for 10 years. it the account pays interest at the rate of 4%, compounded quarterly, how much will she have in her account after 10 years? (a) State whether the problem relates to an ordinary annuity or an annuity due, 0 ordinary annuity O annuity due (b) Solve the Problem. (Round Your answer to the nearest Cent.) Si: Need Help? @ Submlt Answer 11. [-I2 Points] DETAILS HARMATHAP12 6.4.025. A company wants to have $20,000 at the beginning of each Gsmonth period for the next 4% years. !f an annuity is set up for this purpose, how much must be invested now if the annuity earns 6.21%, compounded semiannuaiiy? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. 0 ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) 5 Need Help? _ Submit Answer 12. [-/2 Points] DETAILS HARMATHAP12 6.4.035. MY NOTES As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more than $2.5 million. Suppose he invested $1.9 million in an ordinary annuity that earned 4.8%, compounded monthly. How much would he receive at the end of each month for the next 25 years? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ Need Help? Read It Submit