1. Compute the future value of an ordinary annuity with BD 110 semi-annually payments at 6% annual interest for 23 years.

2. Find the future value of an ordinary annuity with BD 750 quarterly payments at 8% annual interest for 9 years and 6 months.

3. Determine the future value of an ordinary annuity with BD 50 monthly payments at 1% annual interest for 2345 days.

4. On March 13, Nada joined a saving account. Her bank will automatically deduct BD 160 from her checking account at the end of each month, and deposit it into her saving account, where it will earn 5 % annual interest. The account comes to term on December 1. Find the following:

a. Find the future value of Nadas saving account.

b. Find Nadas total contribution to the account.

c. Find the total interest earned on the account.

5. Khalid recently set up a tax-deferred annuity to save for his retirement. He arranged to have BD 75 taken out of each of his monthly checks; it will earn 4% annual interest. He just had his 20 birthday, and his ordinary annuity comes to term when he is 60. Find the following:

a. Find the future value of Khalids annuity.

b. Find Khalids total contribution to the annuity.

c. Find the total interest earned on the annuity.

Marking Scheme:

5 Mark = Choosing the correct formula, Clear and Correct steps and final answer

4 Marks = Clear and Correct steps with wrong final answer

3 Marks = Choosing the correct formula with Clear steps

2 Marks = Choosing the correct formula with incomplete steps

1 Mark = Choosing the correct formula or Correct final answer

0 Mark = Wrong choosing of formula, wrong steps