Whitney deposits $750 at the end of every month for 1 yearsand 3 monthsin a retirement fund at 3.44% compounded quarterly.

a.What type of annuity is this?

Ordinary simple annuity

Ordinary general annuity

Simple annuity due

General annuity due

b.How many payments are there in this annuity?

Round up to the next payment

Caitlin saved $180 at the end of every month for 4 years in her bank account that earned 4.80% compounded monthly.

a.What is the accumulated value of her savings at the end of the period?

$9,287.15

$9,504.30

$99,287.15

$864.30

b.What is the interest earned over the period?

$684.30

$9,504.30

$1,044.30

$864.30

Samantha purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first eleven years and $400 at the end of every month for the next three years. The annuity earns interest at a rate of 3.8% compounded quarterly.

a.What was the purchase price of the annuity?

Round to the nearest cent

b.How much interest did Samantha receive from the annuity?

Round to the nearest cent