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PART TWO (5 points each) NAME 11. William deposits $100 into an annuity every year for 35 years. The account earns 0.9% interest compounded
PART TWO (5 points each) NAME 11. William deposits $100 into an annuity every year for 35 years. The account earns 0.9% interest compounded annually. Find the future value of this account. 12. Kate wants to have $60,000 saved ten years from now. Her annuity pays 3% compounded quarterly. How much must she deposit each quarter to reach her goal? 13. George has an account with $72,500 that earns 1.25% interest compounded monthly. Find the amount of money he can receive from the account every month for the next 20 years. 14. Charlotte deposits $225 into an annuity every month for 30 years. The account earns 2.8 % compounded monthly. Find the future value. 15. Louie wants to withdraw $2100 a month for an eight year period. The money resides in an annuity that pays 2% % interest compounded monthly. How much money must be in the account to reach his goal?
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