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- TERMINAL ACTIVITY PROBLEM SET Read and examine the following real-life applications of deferred annuity. 1. 2. Identify the given quantities and answer the questions that follow. Derek purchased a laptop through the credit cooperative of their company. The cooperative provides an option for a deferred payment. Adrian decided to pay after 4 months of purchase. His monthly payment is computed as P3,500 payable in 12 months. How much is the cash value of the a) What is the interest rate? b) Find the periodic rate. c) What is the deferral period? laptop if the interest rate is 8% convertible monthly? d) How much is the cash price of the laptop? Ambitžon and Passion, Our Mission Partnership Youri) Identify whether Simple or General Annuity ii) Identify whether Ordinary Annuity, Annuity Due, or Deferred Annuity iii) Using the formula, solve for the unknown iv) Use tabular presentation to support your answer 4) Clyde is setting up a fund of $12,000 fund to purchase a brand new cellphone. If he deposits $800 in a bank every end of the month which pays an interest of 9% compounded monthly, how long will it take him to raise the desired amount?On your first through fifth birthdays your parents placed $1,000 into your college fund (five total deposits of $1,000 each). The account has earned an average of 8.0% per year until today, your twentieth birthday. How much money is in the account today? 8/15 Qs Your choice: A: $11,733.20 B: $18,609.85 C: $17,219.70 D: $25,383.41
- Marwan just deposited $13,000 into his account at Bank Muscat. The bank will pay 2.3 percent interest, compounded annually, on this account. How much interest on interest will he earn over the next 15 years? Il mcbs.proctonng.online is sharing your screen. Stop sharing Hide mpt-1231438cmid-98604&page-5#questicHow much money should a grandparent deposit in a college savings fund today for their newborn grandchild in order to provide for 4 uniform annual end of period withdrawals of $20,000 each? The first withdrawal occurs at the end of the 17th year. Use average amount return for the fund = 12% a. $8,847 b. $9,909 c. $11,098 d. $12, 418 Please use excel and show formulas.Directions: Determine whether each of the following situation is Simply Annuity or General Annuity. Write your answers on the space provided. 1. A life insurance contribution paid monthly while the interest is compounded quarterly. 2. Your mom decided to join their office cooperative and agreed to contribute P1000 per month beginning in January 2020 which will earn 3% compounded monthly. 3. Your parents are planning to save for their retirement. To do this, they want to set aside a portion of their salaries and contribute monthly for their retirement funds which will earn 5% compounded quarterly. 4. Your eldest brother applied for a term life insurance. His contribution per year is P40 000 that earns 12% compounded monthly for 20 years. 5. A college educational plan earns 4% compounded quarterly and payments are made quarterly. 6. Your eldest brother applied for a term life insurance. His contribution per year is P40 000 that earns 12% compounded monthly for 20 years. 7. A college…
- How much money must an electrical contractor deposit every year in her savings account starting 1 year from now at 7.5% peyear in order to accumulate $9000 five years from now?Select one:O a. 49620Ob. 1290O c.726d.1549Oe.52290Clear my choice Please answer fast please arjentAiden starts a retirement fund 10 years before retirement. He pays $100 per month into the annuity for 10 years with an interest rate of 5% per year compounded monthly. Find the value of Aiden's annuity at the time of retirement. Use a TVM solver to solve this problem. Fill in the information that you typed into the TVM solver. Round the final answer to two decimal places. 120 IN = I%= 5 PV = 0 PMT= -100 Final Answer: $ 17,537.13 FV = P/Y = C/Y = PMT: (End/Begin) End✔ alpha 12 12 X ✓ B✓A self-employed person deposits $4,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 7 percent. Use Appendix A and Appendix C to answer the questions. Round your answers to the nearest dollar. How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 50?$ How much additional money will be in the account if the saver defers retirement until age 70 and continues the contributions?$ How much additional money will be in the account if the saver discontinues the contributions at age 65 but does not retire until age 70
- Mrs. Quiton deposited Php 120,000.00 into a college fund at the beginning of every month for 10 years . The fund earns 9% annual interest , compounded monthly . She paid at the end of the month . How much is in the account right after the last deposit ? 1. What is the type of annuity illustrated in the given problem? A. Simple Annuity B. General Annuity C. Deferred Annuity D. Complex Annuity 2. Determine the present value of the deposit. A. Php 12,000.00 B. Php 30,000.00 C. Php 60,000.00 D. Php 75,000.00Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.) Amount Needed Frequency Rate Time $45,000 monthly 4% 35 yr Need Help? Read It Master It Talk to a TutorOn the day your daughter is born, you deposit $1,000 in a college savings account that earns 8% compounded annually. On each of her birthdays thereafter, up to and including her 18th birthday, you deposit an additional $1,000. How much money is in the college account the day after her 18th birthday? a. $37,450 b. $38,950 c. $41,450 d. $46,800.