1 / 4

MATH 110 Sec 8-4: Annuities Practice Exercises

MATH 110 Sec 8-4: Annuities Practice Exercises. Monthly payments of $75 are paid into an annuity beginning on January 31 with a yearly interest rate of 9% compounded monthly. What is the total value of the annuity on September 1 (round to nearest cent).

olathe
Download Presentation

MATH 110 Sec 8-4: Annuities Practice Exercises

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MATH 110 Sec 8-4: AnnuitiesPractice Exercises Monthly payments of $75 are paid into an annuity beginning on January 31 with a yearly interest rate of 9% compounded monthly. What is the total value of the annuity on September 1 (round to nearest cent).

  2. MATH 110 Sec 8-4: AnnuitiesPractice Exercises Find the value of the ordinary annuity at the end of the indicated time period (to nearest cent). The frequency of deposits is the same as the frequency of compounding. Amount: $1000, 5.5% quarterly, 8 yrs

  3. MATH 110 Sec 8-4: AnnuitiesPractice Exercises Kal wants to save $15,000 in 6 years with monthly payments to an ordinary annuity for a down payment on a condo at the beach. If the annuity pays 0.6% monthly interest, what will his monthly payment be? (Round answer UP to the nearest cent.)

  4. MATH 110 Sec 8-4: AnnuitiesPractice Exercises At age 21 Julio begins saving $1200 each year until age 35 (15 payments) in an ordinary annuity paying 7.5% annual interest compounded yearly and then leaves his money in the account until age 65 (30 yrs). Max begins at age 41 saving $2400 per year in the same type of account until age 65 (25 payments). How much does each have in his account at age 65? (Round answers to the nearest cent.)

More Related