Question

As part of her retirement planning, Mrs.Barth purchases an annuity that pays 9.5% compounded annually. If the yearly payment is $3500, how much will Mrs.Barth have saved in 8 years?

Answer #1

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Holly Krech is planning for her retirement, so she is setting up
a payout annuity with her bank. She wishes to receive a payout of
$1,900 per month for twenty years.
(a) How much money must she deposit if her money earns 7.8%
interest compounded monthly? (Round your answer to the nearest
cent.)
(b) Find the total amount that Holly will receive from her
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Gabrielle purchased an annuity that had an interest rate of
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anniversary and plans to make her first $5,000 investment on their
first anniversary. Assume her investment earns a 4 percent interest
rate, how much will she have saved for their trip if the interest
is compounded in each of the following ways?...

3. If $2,800 is discounted back 4 years at an interest rate of
8% compounded semi-annually, what would be the present value?
. 4. Consider a newlywed who is planning a wedding anniversary
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She will have enough to pay for the trip if she invests $4,000 per
year until that anniversary and plans to make her first $4,000
investment on their first anniversary. Assume her...

Retirement planning.
John and Jane will contribute to an RRSP until they are each 71.
When they turn 71, CRA rules require them to switch their RRSPs to
an annuity and begin receiving payments. John and Jane will receive
their first payments on their (respective) 71st birthdays. Each
wish to receive a payment of $10 000 per month until they die. If
the annuity pays 5% interest compounded monthly, how much must they
have saved in their RRSP if they...

An ordinary annuity was purchased 5 years ago. The annuity pays
8% compounded quarterly. The quarterly payments have been $500.
What is the amount of interest earned on the annuity to date?

Leila is planning for retirement. She deposits
$650
at the end of each year in an ordinary annuity that pays
4%
interest, compounded annually.
Answer each part. Do not round any intermediate computations nor
answers. If necessary, refer to the
list of financial formulas
.
(a)Find the total value of the
annuity at the end of the
1st
year.
$
(b)Find the total value of the annuity at the end of the
2nd
year.
$
(c)Find the total value of...

Math of Finance Annuities
A) Allison purchased an annuity that provided her with
payments
of 1000 every month for 25 years at 4.5% compounded
monthly
i) how much did she pay for the annuity
ii) what was the total amount of money received from the
annuity and how much of this amount was the interest
earned
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Marcy Johnson is planning for her golden years. The details of
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Time until retirement (in years) 19
Expected life span after retirement (in years) 28
Annual planned withdrawl from retirement fund (at the beginning
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Retirement savings already accumulated $ 13,000.00
Before retirement interest rate 8%
during retirement interest rate 11%
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Nikola is currently 47 years old and planning to retire at age
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At retirement, Nikola’s $247,000.00 will have grown to
and her $400.00 deposits will have grown to
, for a total of...

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