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Which of the following statements about annuities are true? Check all that apply. A perpetuity is a series of equal payments made at fixed intervals
Which of the following statements about annuities are true? Check all that apply. A perpetuity is a series of equal payments made at fixed intervals that continue infinitely and can be thought of as an infinite annuity. U An ordinary annuity of equal time earns less interest than an annuity due. U When equal payments are made at the end of each period for a certain time period, they are treated as ordinary annuities. When equal payments are made at the end of each period for a certain time period, they are treated as an annuity due. Which of the following is an example of an annuity? O A job contract that pays an hourly wage based on the work done on a particular day O A job contract that pays a regular monthly salary for three years Eleanor has a large and growing collection of animated movies. She wants to replace her old television with a new LCD model, so she has started saving for it. At the end of each year, she deposits $1,100 in her bank account, which pays her 9% interest annually. Eleanor wants to keep saving for 6 years and then buy the newest LCD model that is available. Eleanor's savings are an example of an annuity. How much money will Eleanor have to buy a new LCD TV at the end of 6 years, rounded to the nearest whole dollar? $8,276 $7,035 $11,173 $9,021 If Eleanor deposits the money at the beginning of every year and everything else remains the same, she will save y by the end of 6 $9,021 If Eleanor deposits the money at the beginning of every year and everything else remains the same, she will save by the end of 6 years? Grade It Now S ave & Continue Continue without saving
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