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  3. 2 points find the present value of the given annuity...

Question: 2 points find the present value of the given annuity...

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(2 points) Find the present value of the given annuity. 1, $800 paid at the beginning of each 6 months period for 4 years at the rate of 5% compounded semiannually. The present value is $ 2, $350 paid at the beginning of each month for 8 years at the rate of 4% compounded monthly. The present value is $

(2 points) A student wishes to sublet his apartment for 6 months, while he is away on exchange. The cost is $800 a month; payable at the beginning of each month. Suppose that the person subletting wants to make a lump-sum payment today rather than paying monthly. If the interest rate is 4% compounded monthly, how much should the payment be? The payment should be of $

(2 points) Sally has a sum of $26000 that she invests at 7% compounded monthly. What equal monthly payments can she receive over a period of a) 10 years? Answer $ b) 15 years? Answer $(3 points) How many years will it take to exhaust an IRA of $230000 if you withdraw $1700 every month? Assume a rate of interest of 7% compounded monthly. Answer years

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