Question
If $80,000 is invested in an annuity that earns 5.1%, compounded quarterly, what payments will it provide at the end of each quarter for the
If $80,000 is invested in an annuity that earns 5.1%, compounded quarterly, what payments will it provide at the end of each quarter for the next 9.5 years? (Round your answer to the nearest cent.)
Suppose $200,000 is used to establish an annuity that earns 7%, compounded quarterly, and pays $4500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)
Find the present value of an annuity due that pays $4000 at the beginning of each quarter for the next 5 years. Assume that money is worth 6.6%, compounded quarterly. (Round your answer to the nearest cent.)
What amount must be set aside now to generate payments of $40,000 at the beginning of each year for the next 14 years if money is worth 5.02%, compounded annually? (Round your answer to the nearest cent.)
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