Question
2. Debra made annual payments of $4400 into a fund for 11 years. The fund earned j1=4.5% for the first 5 years and j1=3.25% afterward.
2. Debra made annual payments of $4400 into a fund for 11 years. The fund earned j1=4.5% for the first 5 years and j1=3.25% afterward. What is the value of the fund 3 years after the last deposit? *Do Not Round Intermediate Steps*
3. Walter decides he wants to start saving for retirement. On his 37th birthday, he deposits $141000 in an account with an interest rate of j1=7%. On his 65th birthday, he starts withdrawing money annually from the account for the next 12 years. What size are the withdrawals? *Do Not Round Intermediate Steps*
4. An annuity pays $1500 weekly for 4 years and then $4100 weekly for the next 7 years. Determine the discounted value if the interest rate is j52=7.9%. *Do Not Round Intermediate Steps*
5. Charlie borrowed $112000 today. The interest rate on the loan is j1=4.3% for the first 5 years, then it changes to j1=7.2% thereafter. To repay the loan, Charlie makes yearly payments of R dollars (in the end of year) from year 3 to year 11. What is R? *Do Not Round Intermediate Steps*
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