Abby Mia wants to know how much must be deposited in her local bank today so that she will receive yearly payments of $18,000 for 20 years at a current rate of 9% compounded annually. (Use the tables in the handbook.)

$1,085.82

$1,463.13

$164,313

$163,313

None of these

How much would Howard Steele need to invest today so that he may withdraw $12,000 each year for the next 20 years, assuming a rate of 8% compounded annually? (Use the tables in the handbook.)

$117,817.20

$454,144.00

$112,817.20

$549,144

None of these

Scott deposits $5,000 at the end of each year into an account for five years. Assuming 6% interest annually, what is the value of his account in five years?

$67,060

$21,873

$30,100

$28,185.50

None of these

Jorgen Grace made deposits of $250 at the end of each year for 12 years. The rate received was 6% annually. What is the value of the investment after 12 years?

$2,028

$3,000

$4,217.48

$4,200

None of these

Bram Johnson invests $500 at the end of each quarter for 10 years. The account earns 12% interest annually. What is the value of the account at the end of 10 years?

$37,700

$37,700.60

$37,000

$3,700

None of these