( ngoluh )

(Annuity payments) You plan to buy some property in Florida 9 years from today. To do this, you estimate that you will need $23,000 at that time. You would like to accumulate these funds by making equal annual deposits into your savings account, which pays 11 percent annually. If you make your first deposit at the end of this year, and you would like your account to reach $23,000 when the final deposit is made, how much will you have to deposit into the account annually? BEELD The amount of money you will have to deposit into the account annually is $ (Round to the nearest cent.) (Annuity number of periods) You've just bought a new flat-screen TV for $3,600 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 13 percent compounded monthly if you take the financing and make monthly payments of $110, how long wil it take to pay off the loan? How much will you pay in interest over the life of the loan? a. The number of years it will take to pay off the loan is years. (Round to one decimal place.)