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its urgent i just need the answers no explanation please do it fast Question 5 [10 points) Mary invests $13,000 in an annuity that generates
its urgent
i just need the answers no explanation please do it fast
Question 5 [10 points) Mary invests $13,000 in an annuity that generates 8% interest compounded semi-annually and that pays $1,000 at the end of every half year. Answer the following questions For full marks your answer should be rounded to the nearest cent. a) How long will the annuity last? Your answer should be rounded to the appropriate whole period 0 years, 0 months b) How much of the payment comes from principal? Principal = $ 0.00 c) How much of the 8th payment comes from interest? Interest - $ 0.00 d) How much is the principal reduced by payments 10 through 11? Principal - $ 0.00 e) How much of payments through 2 comes from interest? Interest - $ 0.00 Question 5 [10 points] Mary invests $13,000 in an annuity that generates 8% interest compounded semi-annually and that pays $1,000 at the end of every half year. Answer the following questions For full marks your answer should be rounded to the nearest cent. a) How long will the annuity last? Your answer should be rounded to the appropriate whole period 0 years, 0 months b) How much of the sth payment comes from principal? Principal = $ 0.00 c) How much of the 6th payment comes from interest? Interest = $ 0.00 d) How much is the principal reduced by payments 10 through 11? Principal = $ 0.00 e) How much of payments 1 through 2 comes from interest? Interest - $ 0.00 Step by Step Solution
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