Question
What is the future value (at the end of 7 years) of an annuity that pays $2400 a quarter over 7 years with the payments
What is the future value (at the end of 7 years) of an annuity that pays $2400 a quarter over 7 years with the payments invested at 7.4% per annum (assume compounding matches payment periods, common assumption for such problems)? (enter your answer in the following format 123456.78)
What is the rate of return being earned on a preferred stock that currently is selling for $43 and pays an annual dividend of $5.70? (Round to 100th of a percent and enter as a percentage, e.g. 12.34 and state as an annual rate)
Jack and Jill need to save $8300 toward a new car. How long will it take them if they save $340 a month earning interest at 4.7% per year? (Treat as an ordinary annuity.) (State your answer in years rounded to the second decimal place, e.g., 12.34)
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