You are planning to put $$9,500$ in the bank at the end of each year for the next six years in hopes that you will have enough money for a down payment on a condo. If you are investing at an annual interest rate of $7\%,$ how much money will you have at the end of six years$$rounded to the nearest whole dollar?

A$.$ $$72,713$

B$.$ $$81,547$

C$.$ $$67,956$

D$.$ $$54,365$

You$$ve decided to deposit your money in the bank at the beginning of the year instead of the end of the year, but now you are making payments of $$9,500$ at an annual interest rate of $7\%.$ How much money will you have available at the end of six years$$rounded to the nearest whole dollar?

A$.$ $$67,956$

B$.$ $$50,899$

C$.$ $$101,798$

D$.$ $$72,713$

There are three categories of cash flows: single cash flows, also referred to as $$lump sums,$$ a stream of unequal cash flows, and annuities.

Based on your understanding of annuities, answer the following questions.

Which of the following statements about annuities are true? Check all that apply.

A$.$ An annuity due is an annuity that makes a payment at the beginning of each period for a certain time period.

B$.$ Ordinary annuities make fixed payments at the beginning of each period for a certain time period.

C$.$ An annuity is a series of equal payments made at fixed intervals for a specified number of periods.

D$.$ An annuity due earns more interest than an ordinary annuity of equal time.

Which of the following is an example of an annuity?

A$.$ A fund that invests in technology companies and distributes dividends every quarter

B$.$ A retirement fund set up to pay a series of regular payments

Maria had a high monthly food bill before she decided to cook at home every day in order to reduce her expenses. She starts to save $$750$ every year and plans to renovate her kitchen. She deposits the money in her savings account at the end of each year and earns $5\%$ annual interest. Maria$$s savings are an example of an annuity.

If Maria decides to renovate her kitchen, how much would she have in her savings account at the end of $2$ years, rounded to the nearest whole dollar?

A$.$ $$1,307$

B$.$ $$2,076$

C$.$ $$1,615$

D$.$ $$1,538$

If Maria deposits the money at the beginning of every year and everything else remains the same, she will save$\_\_\_\_$ by the end of $2$ years?