21 May WHAT IS THE PRESENT VALUE OF THE FOLLOWING ANNUITY?
Question 1 1
/ 1 point
You have decided to place $997 in equal deposits every month
at the beginning of the month into a savings account earning 12.39 percent per
year, compounded monthly for the next 12 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.
Question 2 1
/ 1 point
What is the present value of the following annuity?
$1,976 every half year at the beginning of the period for
the next 6 years, discounted back to the present at 10.89 percent per year,
compounded semiannually.
Round the answer to two decimal places.
Question 3 1
/ 1 point
You plan to buy a house in 12 years. You want to save money
for a down payment on the new house. You are able to place $474 every month at
the end of the month into a savings account at an annual rate of 5.83 percent,
compounded monthly. How much money will be in the account after you made the
last payment?
Round the answer to two decimal places.
Question 4 1
/ 1 point
You are going to save money for your son’s education. You
have decided to place $2,811 every half year at the end of the period into a
saving account earning 6.60 percent per year, compounded semi-annually for the
next 7 years. How much money will be in the account at the end of that time
period?
Round the answer to two decimal places.
Question 5 1
/ 1 point
A car dealership offers you no money down on a new car. You
may pay for the car for 6 years by equal monthly end-of-the-month payments of
$486 each, with the first payment to be made one month from today. If the
discount annual rate is 14.37 percent compounded monthly, what is the present
value of the car payments?
Round the answer to two decimal places.
Question 6 1
/ 1 point
What is the present value of the following annuity?
$1,983 every quarter year at the end of the quarter for the
next 14 years, discounted back to the present at 14.41 percent per year,
compounded quarterly?
Round the answer to two decimal places.
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