Question
Wiseman Video plans to make four annual deposits of $4,750 each to a special building fund. The funds assets will be invested in mortgage instruments
Wiseman Video plans to make four annual deposits of $4,750 each to a special building fund. The funds assets will be invested in mortgage instruments expected to pay interest at 12% on the funds balance. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) |
Using the appropriate annuity table, determine how much will be accumulated in the fund on December 31, 2019, under each of the following situations. |
1. the 1st deposit is made 12/361/16 interest is compounded annually..
table or calulator function........?
payment .........................?
n=..?
p=..?
fund bal 12/31/19.............?
2. the 1st deposit is made 12/31/15 interest is compounded annually
table ir calculator function....?
payment...........?
n=..........?
p=........?
fund balance 12/31/09.........?
3. the 1st deposit is made 13/31/15 interest is compounded quarterly
deposit detail............i=..............n=......deposit.........fund bal 12/31/09
12/31/15..................?.................?..........4750..............?
12/31/16..................?................?...........4750...............?
12/31/17..................?...............?............4750..............?
13/31/18...................?..............?............4750.............?
4. deposit amount...........# of payments........interest left in fund......fund bal 12/31/09
4750.........................................?.............................?..................................?
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