Question
This is Actuarial Science please help as much as you can! Problem 4 - Annuity Values on Any Date Mirza is saving for his retirement.
This is Actuarial Science please help as much as you can!
Problem 4 - Annuity Values on Any Date Mirza is saving for his retirement. How much money will he accumulate by his 65th65th birthday based on the following saving patterns: a) Saving $25,000.00 on each birthday starting on his 51th birthday and ending on his 65th birthday (inclusive), with i=4.4%. AV = a) Saving $14,000.00 on each birthday starting on his 37th birthday and ending on his 48th birthday (inclusive), with i=4.4%. AV =
Boyan is saving for her retirement. How much money will she accumulate by her 65th65th birthday based on the following saving patterns: c) Saving $25,000.00 on each birthday starting on her 55th birthday and ending on her 64th birthday (inclusive), with i=4.7%. AV = d) Saving $1,200.00 per month starting one month after her 39th birthday and ending on the day of her 48th birthday(included), with i(12)=4.8%. AV =
Problem 5 - Annuity Values on Any Date a) Corey deposits $18,000.00 in a bank crediting interest at a nominal rate of 3.6% compounded monthly. This deposit is just sufficient to permit him to make monthly withdrawals of X for 13 years, with first withdrawal today. Determine X.
b) Saidah makes 10 annual deposits of X in a bank crediting interest at an annual effective rate of 4.1% . These deposits are just sufficient to permit her to make 15 annual withdrawals of $1,900.00, first withdrawal one year after the last deposit. Determine X
Problem 7 - Annuity Values on Any Date An annuity pays $1500 per quarter for 5 years with the first payment on April 1, 2015. Given an annual nominal rate of interest of 3.2%3.2% compounded quarterly, a) Find the PV on 1/1/2015 . b) Find the AV on 1/1/2021
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