Cheryl is setting up a payout annuity with her bank. She wants to receive a payout of $1200 per month for 20 years. A. How much will she have to deposit if she earns 8% interest compounde monthly? B. What's the total she will receive from her payout annuity?
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Cheryl is setting up a payout
A. How much will she have to deposit if she earns 8% interest compounde monthly?
B. What's the total she will receive from her payout annuity?
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- Without using Excel and using the formula, Cheryl is setting up a payout annuity and wishes to receive $1200 per month for 20 years. A. How much does she have to deposit if her money earns 8% interest compounded monthly? B. Find the total amount Cheryl will receive from her payout annuity.Your friend Anne is planning to invest $400 each year for four years and will earn a rate of 6 percent per year. Determine the future value of this annuity due if her first $400 is invested now. Show your work. What is the difference between an annuity due and an ordinary annuity? Explain.Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity? (Show solution)
- 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 payout annuity. Thank you!Dean Gooch is planning for his retirement, so he is setting up a payout annuity with his bank. He wishes to receive a payout of $1,500 per month for twenty-five years. (a) How much money must he deposit if his money earns 7.3% interest compounded monthly? (Round your answer to the nearest cent.) (b) Find the total amount that Dean will receive from his payout annuity.Your friend Anne is planning to invest $500 each year for five years and will earn a rate of 5.5 percent per year. a) Determine the future value of this annuity due if her first $500 is invested now. Show your work.b) What is the difference between an annuity due and an ordinary annuity? Explain.
- Mary wants to receive a payout of $1500 per month for 20 years. 1) How much money must be in the deposit if the money earns 4.2% compounded monthly? 2) How large monthly payment would Mary have made if she saves for her payout annuity with an ordinary annuity, 30 years before she needed it? Assume that two annuities have the same interest rate 4.2%.Alexandria wants to receive $12,000 a year for 8 years. How much must Alexandria invest today in an annuity that pays 5% annually?Siri plans to retire when her simple annuity savings account has enough money to receive 10000.00 per month for 20 years starting at the end of her first month after her retirement. she starts saving 4420.00 per month. Calculate when should Siri retire from today if her savings account pays 4.9% compounded monthly. Round to the nearest year.
- Answer the following questions. Show your complete solution. 1. Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity? 2. Cheska is saving for her dream cellphone. She deposits 2,000 pesos at the end of each month that earns 5% per year compounded semi-annually. Find the amount in the account after 1 1⁄2 years. 3. Janine wants to but a lot which cost 1 million pesos. She plans to give a down payment of 20% of the cost, and the rest will be paid by financing at monthly interest rate of 2% for 10 years in equal monthly installments. What will be the monthly payment? 4. Christopher wants to have 50,000 pesos in 4 years by saving equal regular payments. He can make a deposit at the end of each month in account that earns 8.5% per year compounded quarterly. How much must he deposit to achieve his…A retiree wants to purchase an annuity that will provide her with end-of-year payments for the next 30 years. She wants the first annual payment to be $15,000, and for the payments to grow by 3% each year thereafter. If she can earn 5.5% compounded annually on her investments, what is the purchase price of the annuity todaySara decides to set up a retirement fund by depositing $24 at the end of each day for 13 years. How much will she have then, if the interest rate is 6.48% compounded weekly and her account starts with $13487 already deposited?