Calculate the future value of anannuity, with case A being an ordinary annuity and case B being an annuity due.

Case

Annuity Interest Rate(%) Deposit Period(Yrs) Future Value($)

(A)

17,000 4 8 ??

(B)

8,000 7 12 ??

(Round to the nearestcent.)

For each of the followingcases, calculate the present value of theannuity, assuming the annuity cash flows occur at the end of each year.

(C)

34,000 17 6 ??

(D)

20,000 6 12 ??

(Round to the nearestcent.)

You are 30 years old and you want to retire at age 60 with$1.5 million. You are going to make equal annual deposits into your savings account at the end of each year in order to save up this money. Your savings account pays8% interest. What amount must you deposit eachyear?

A.

$14,506.85

B.

$13,241.15

C.

$13,274.34

D.

$12,160.93

E.

$14,227.80