Annuities Answers

You put $300 at the end of each month in an investment plan that pays an APR of 7%. How much will you have after 18 years? Compare this amount to the total deposits made over the time period. a. $129,201.10; $64,800 c. $130,964.27; $64,800 b. $129,211.25; $64,775 d. $131,218.51; $64,775 Please select the best answer from the choices provided

In the Present Value of an Ordinary Annuity formula, what does the n represent?a.nominal interest ratec.number of periodsb.number of paymentsd.decimal number of percentage

Lou has an account with $10,000 which pays 6% interest compounded annually. If to that account, Lou deposits $5,000 at the beginning of each year for 2 years, find out the amount in the account after the last deposit.a.$10,300.00c.$21,500.00b.$20,300.00d.$22,154.00

As part of your retirement plan, you want to set up an annuity in which a regular payment of $35,000 is made at the end of each year. You need to determine how much money must be deposited earning 6% compounded annually in order to make the annuity payment for 20 years.a.$391,125.87c.$397,502.32b.$395,083.12d.$401,447.24

Find the savings plan balance after 9 months with an APR of 12% and monthly payments of $300. Assume an ordinary annuity.a.$2,750.21c.$2,810.56b.$2,790.54d.$2,815.32

As part of your retirement plan, you want to set up an annuity in which a regular payment of $25,312 is made at the end of each year. You need to determine how much money must be deposited earning 6.2% compounded yearly in order to make the annuity payment for 20 years.a.$2,242.78c.$285,671.10b.$506,240d.$537,626.90

As part of your retirement plan, you want to set up an annuity in which a regular payment of $25,312 is made at the end of each year. You need to determine how much money must be deposited earning 6.2% compounded yearly in order to make the annuity payment for 20 years.a.$2,242.78c.$285,671.10b.$506,240d.$537,626.90

Alex wants to start an IRA that will have $1,250,675 in it when he retires in 30 years. How much should he invest semiannually in his IRA to do this if the interest is 4.5% compounded semiannually? Assume an Annuity Due. Round to the nearest cent.a.$9,698.12c.$9,828.44b.$9,728.66d.$9,931.10

$765.13 is deposited at the beginning of each month for 2 years in an account paying 12% interest compounded monthly. Find the amount of the account. Round your answer to the nearest cent.a.$18,911.18c.$20,844.59b.$19,873.08d.$21,403.34