At the beginning of 2010, the Regal Company issued 10-year bonds with a face value of $10,000,000 due on December 31, 2019. The company will accumulate a fund to retire these bonds at maturity. It will make ten annual deposits to the fund beginning on December 31, 2010. How much must the company deposit each year, assuming that it will earn 12% interest compounded annually? (The future value of an ordinary annuity, 10 periods, and 12% is 17.548735 and for annuity due is 19.654583 and the present value of an ordinary annuity, 10 periods, 12% is 5.650223 and the annuity due is 6.328250)

		$508,787.18
		$565,022.30
		$569,841.64
		$909,090.90

Which answer finishes the sentence started below... "The future amount of an annuity due is determined one period

		after the last rent in the series."
		before the next rent in the series."
		before the last rent in the series."
		after the next rent in the series."

House of Flavors Ice Cream Parlor began depositing $1,000 equal annual deposits in a fund beginning on January 2, 2014. The fund earns 10% compounded annually and the last deposit is made on January 2, 2018. How much will be in the fund on January 2, 2019, one year after the final deposit? (future value of annuity due with 6 years, 10% is 8.487171 and with 5 years, 10% is 6.715610 and future value of an ordinary annuity with 6 years, 10% is 7.715610 and with 5 years, 10% is 6.105100)

		$7,500
		$6,716
		$6,105
		$5,641

Hillary Jones wants to know how much she must deposit today at 12% interest to provide three equal annual withdrawals of $10,000, beginning one year from now. This is an example of the present value of:

		an ordinary annuity
		an annuity due
		a single sum
		a deferred annuity