Question
Find the value of the annuity and the interest. Round to the nearest dollar. 1) Periodic Deposit: $100 at the end of each year Rate:
Find the value of the annuity and the interest. Round to the nearest dollar.
1) Periodic Deposit: $100 at the end of each year
Rate: 4% compounded annually
Time: 13 years
2) Periodic Deposit: $900 at the end of every six months
Rate: 4.5% compounded semiannually
Time: 7 years
3) Periodic Deposit: $10,000 at the end of every three months
Rate: 4.25% compounded quarterly
Time: 10 years
4) Periodic Deposit: $50 at the end of every month
Rate: 6.25% compounded monthly
Time: 9 years
5) Suppose that you earned a bachelor's degree and now you're teaching middle school. The school district offers teachers the opportunity to take a year off to earn a master's degree. To achieve this goal, you deposit $1500 at the end of every three months in an annuity that pays 5.5% compounded quarterly. How much will you have saved at the end of 6 years? Find the interest.
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