On the advice of his C.P.A., a 50 year-old sole-proprietor begins an I.R.A. to save for his retirement. He makes a series of 15 equal deposits (the first such deposit is made in one year and the last when he is 65). When he turns 66, the businessman wants to withdraw $35,000 per year for 20 years. If money grows at 4.3 % (effective rate) during the accumulation period and at 3.3% per annum thereafter, how much money does he need to deposit into his retirement fund each year?

Ira Saver has been depositing $12,000 into a retirement plan at the end of each of the last 15 years. His deposits have grown at 5% effective for the first 9 years, at 4 % for the next 4 years and at 3% thereafter. What is the accumulated amount in his retirement plan just after having made his last deposit?

To settle a debt obligation, a person agrees to pay $1,200 at the end of each semi-annual period the first such payment to be made in 6 months with a total of 23 full payments and a final 24th payment of $950. If the debt is at j2 = .036, what is the present value of the obligation?

A woman dies, leaving her only surviving daughter an estate of $50,000. The money is invested at j (4) = 8%. How many quarterly payments of $1500 will the daughter receive? What would be the amount of any final payment, were it to be paid 3 months after the last full $1500 installment?

Find the present value of a perpetuity paying $55 per month if j (12) = 6%