Question
All 3 questions please! :) 1.Find the present value of the annuity that will pay $2500 every 6 months for 7 years from an account
All 3 questions please! :)
1.Find the present value of the annuity that will pay $2500 every 6 months for 7 years from an account paying interest at a rate of 4% compounded semiannually. (Round your final answer to two decimal places.) $
2.A mechanic borrows $7000 to expand his garage. The interest rate is 14% compounded quarterly with payments due every quarter. What are the quarterly payments if the loan is to be paid off in 5 years? (Round your final answer to two decimal places.) $
3.Beginning at age 40, Ms. Trinh invests $1000 each year into an IRA account until she retires. When she retires she plans to withdraw equal amounts each year that will deplete the account when she is 80. Find the annual amounts she will receive for each of the following retirement ages. Assume the account pays 8% compounded annually. (Round your final answers to two decimal places.)
(a) Retires at age 60. $ (b) Retires at age 65. $ (c) Retires at age 70.
4% compounded semiannually. (Round your financier to two decimal places Find the present value of the annuity that will pay $2500 every 6 months for years from an account paying interest at a rate $ Need Help? Additional Mati A mechanic borrow $7000 to expand his garage. The interest rate is compounded quarterly with payments due every quarter. What are the quarterly payments in the loan is to be paid off in 5 years? Rou your final tower to two decimal places) $ AUTO SHOP! Beginning 440, Ms. Trinh mests $1000 each year to an IRA account until she retires when she retires when to withdraw equal amounts cach war that will delete the account when she is Find the annuels she will receive for each of the following retirement ages. Asume the account compounded annually. (Round your final answers to two decimal places.) (a) Retines at we $ (6) Retres at 65 $ (c) Retires at age 10Step by Step Solution
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