How much would Steven have to deposit in an ordinary annuity, quarterly, at 6%, in order to have $21,000 at the end of 14 years?
Steven now has enough money to purchase a house and takes out a 30-year $80,000 home mortgage. What are his monthly payments if the rate is 5.4%.?
Steven deposits $15,000 of profit-sharing money he received in an account at 6% compounded semiannually for seven and a half years. He wants to know how much interest he will earn over that time period.
During this time Steven has won the lottery.His winnings entitle him to receive $500 per month for the next 20 years. If money is worth 6% compounded monthly, what is the amount he should be willing to accept today instead of the annuity payments?
Get Answers For Free
Most questions answered within 1 hours.