Homework #3B (FV and PV of
annuity non-annually)
point
You have decided to place $294 in equal deposits every month at the
beginning of the month into a savings account earning 5.26 percent
per year, compounded monthly for the next 10 years. The first
deposit is made today. How much money will be in the account at the
end of that time period?
Round the answer to two decimal places.
Answer:
2,894,172.3
(46,496.60)
8
0/1
Question 2
point
What is the present value of the following annuity?
$4,692 every half year at the beginning of the period for the next 14
years, discounted back to the present at 16.23 percent per year,
compounded semiannually.
Round the answer to two decimal places.
Answer:
33,103.1
(55,477.72)
8
0/1
Question 3
point
You plan to buy a house in 6 years. You want to save money for a
down payment on the new house. You are able to place $406 every
month at the end of the month into a savings account at an annual
rate of 4.84 percent, compounded monthly. How much money will be
in the account after you made the last payment?
Round the answer to two decimal places.
Answer:
243,742.17 (33,840.42)
Question 4 0/1
This study source was downloaded by 100000872281541 from CourseHero.com on 09-26-2023 07:34:55 GMT -05:00
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annuity non-annually)
point
You have decided to place $294 in equal deposits every month at the
beginning of the month into a savings account earning 5.26 percent
per year, compounded monthly for the next 10 years. The first
deposit is made today. How much money will be in the account at the
end of that time period?
Round the answer to two decimal places.
Answer:
2,894,172.3
(46,496.60)
8
0/1
Question 2
point
What is the present value of the following annuity?
$4,692 every half year at the beginning of the period for the next 14
years, discounted back to the present at 16.23 percent per year,
compounded semiannually.
Round the answer to two decimal places.
Answer:
33,103.1
(55,477.72)
8
0/1
Question 3
point
You plan to buy a house in 6 years. You want to save money for a
down payment on the new house. You are able to place $406 every
month at the end of the month into a savings account at an annual
rate of 4.84 percent, compounded monthly. How much money will be
in the account after you made the last payment?
Round the answer to two decimal places.
Answer:
243,742.17 (33,840.42)
Question 4 0/1
This study source was downloaded by 100000872281541 from CourseHero.com on 09-26-2023 07:34:55 GMT -05:00
https://www.coursehero.com/file/28261985/Homework-3B-FV-and-PV-of-annuity-non-annuallydocx/
