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l 3 An annuity with a cash value of $10,900 pays $740 at the beginning of every three months. The investment earns 3% compounded quarterly.

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l 3 An annuity with a cash value of $10,900 pays $740 at the beginning of every three months. The investment earns 3% compounded quarterly. (a) How many payments will be paid? ' (b) What is the size of the nal annuity payment? (a) The number of payments is D. (Round up to the nearest whole number.) (b) The size of the nal payment is $D. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated for finding the outstanding principal; and (d) the principal repaid by the same payment as in part c. Debt Principal Repayment Payment Period Interval Interest Rate Conversion Outstanding Period Principal After: $17,000.00 5 years 3 months 6% monthly 6th payment . . . (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal after the 6th payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid by the 7th payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The principal repaid by the 7th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) A$95,000 mortgage is to be amortized by making monthly payments for 20 years. interest is 4.4% compounded semiannuaily for a six-year term. (3) Compute the size of the monthly payment. (b) Determine the balance at the end of the six-year term. (0) If the mortgage is renewed for a six-year term at 8% compounded semiannually. what is the size of the monthly payment for the renewal term (a) The size of the monthly payment is SST] (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The balance at the end of the six-year term is 3i i- (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (0) The size of the monthly payment for the renewal term is Si i (Round the nal answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Payments of $1,983 are made out of a fund of $25,000 at the end of every month. If interest is 4% compounded monthly, what is the size of the final payment? The size of the final payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)A $17,000, 9.2% bond redeemable at par is purchased 5 years before maturity to yield 7.4% compounded semi-annually. If the bond interest is payable semi-annually what is the purchase price of the bond? .. . The purchase price of the bond is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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