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I enter into a 20 year annuity contract in which I promise to place $500 each year in to an account that pays 6% interest.

I enter into a 20 year annuity contract in which I promise to place $500 each year in to an account that pays 6% interest. After twenty years I stop contributing to the account but leave the money in the bank for another 10 years at the same rate of interest. How much will I have in the bank at the end of year 30?

Group of answer choices

$23,583.78

$32,938.70

$18,392.8

$37,293.72

_______________________

You want to have $1,000,000 waiting in your retirement account on the day you retire.

You will work for forty years. Your retirement account pays 9%.

How much must you take out of your paycheck at the beginning of each month?

Group of answer choices

$749.45

$212.03

$192.55

$1,256.88

____________________

How much must you have in your retirement account on the day you retire to allow you to receive $70,000 each year for 30 years.

Your retirement account pays 9%.

You wish to receive a check at the end of each month.

Group of answer choices

724,977.55

$689,425.77

$730,4114.88

$624,596.49

______________________

You are thinking about purchasing an investment from Get-Rich-Quick Investmemnt company. If you buy the investment, you will receive $50 every month for five(5)years. Payment will be made at the end of each month. If your required rate of return is 9% how much should you be willing to pay for this investment?

Group of answer choices

$4,632.87

$2,525.10

$2,408.67

$2,735.25

______________________

In 1975 the average tuition for one year at public institution was $1,286. In 2015, 40 years later, the average cost was $29,261 What was the average yearly growth rate in cost over the period?

Group of answer choices

9.24%

128%

5.57%

8.1234%

__________________

pick the right answer please

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