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The following questions: 14. You begin making monthly deposits of $400 on June 3, 2007 in a fund earning in = 9%. How much do

The following questions:

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14. You begin making monthly deposits of $400 on June 3, 2007 in a fund earning in = 9%. How much do you have in the fund immediately after the deposit on October 3, 2010? (W 15. You are given 5 = accumulated value of n payments of $1 at the time of the n'11 payment. Which of the following will give the correct result for the accumulated value of n+1 payments of $1, one period after the (n+1)Ih payment? m 16. Becky saves for retirement by depositing $1000 a year for 10 years, followed by $5000 a year for the next 10 years into a fund. Which of the following would give the correct accumulated value immediately after the last deposit? (m 5|: 1?\" 17. You wish to have $25,000 on September 1, 2012 to buy a new car. What monthly deposit is needed to achieve your goal if you can earn j12 = 5.4% and you make monthly deposits from October 1, 2007 to September 1, 2012? W 18. Cam has just won $1 million in the lottery. He plans to spend half of it now and invest the rest in an annuity that has semi-annual payments for the next 30 years, first payment 6 months from now. If money is worth j2 = 8%, what is the size of the semi-annual payment? W 19. Gary has determined he wants an annuity paying $10,000 a year for 10 years, with the first payment payable on his 60th birthday. If j1 = 8%, what single deposit must he make on his 40111 birthday to fund this annuity? ($15,548.02;- 20. Trish needs to have $20,000 one year from now. She plans to make 9 equal monthly deposits, first deposit made today. What is the size of each deposit needed if the money is deposited into an account paying j12= 6%? (552165-13) 21. You deposit $100 every three months for the next 50 years, first deposit made today. If the interest rate is 1'4 = 10%, how much do you have three months after your last deposit? ($563412)

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