For her daughter's university education, Carla Hackl has invested an inheritance in fund paying 9.2% compounded quarterly. If ordinary annuity payments of $4750.00 per month are to be made out of the fund for 5 years and the annuity begins 7.75 years from now, how much was the inheritance? Blank # 1 Blank # 2
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- When you were born, your grandfather established a trust fund for you in the Cayman Islands The account has been eaming interest at the rate of 15% per year f this account will be worth $90,000 on your 23th birthday, how much did your grandfather deposit on the day you were born? Click the icon to view the interest and annuity table for discrete compounding when i 15% per year Choose the correct answer below. OA. $3,618 O B. $2.965 OC. $13,500 O D. $13,335 O E. $3,913 Click to select your answer.Nancy Jackson just learned that she received an inheritance from her grandmother. The inheritance provides for Nancy to receive $5100 per year at the end of the year for each of the next 6 years. Assuming a discount rate of 11%, what is the value of this inheritance to Nancy today? 4 Type of Cash Flow PV of $1 FV of $1 PV ordinary annuity FV ordinary annuity PV annuity due O $21576 O $40356 O $18849 O $23949 Periods 6 6 6 6 6 Interest Rate 11% 11% 11% 11% 11% Factor 0.5346 1.8704 4.2305 7.9129 4.6959On 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.
- Accounting 1:Kaitlyn wants to set up a fund for his son's education such that he could withdraw $2,050.00 at the beginning of every 3 months for the next 2 years. If the fund can earn 2.20% compounded semi-annually, what amount could he deposit today to provide the payment?Accounting Elizabeth Brown just learned that she received an inheritance from her grandmother. The inheritance provides for Elizabeth to receive $4400 per year at the end of the year for each of the next 5 years. Assuming a discount rate of 8%, what is the value of this inheritance to Elizabeth today? Type of Cash Flow Periods Interest Rate Factor PV of $1 8% 0.6806 FV of $1 8% 1.4693 PV ordinary annuity 8% 3.9927 FV ordinary annuity 8% 5.8666 PV annuity due 8% 4.3121Saul Goodman tells you that you inherited $250,000 from your Great Aunt Birgit. Under Saul's advice, you invest your inheritance into an ordinary annuity that pays out $5,000, monthly, et 4 compounded monthly. How many vears will it take for the inheritance to be depleted? Round vour answer to 2 decimal olaces.
- Title Kara Delaney received a $8,000 gift for graduation from her uncle. If she deposits the entire amount Description Kara Delaney received a $8,000 gift for graduation from her uncle. If she deposits the entire amount in an account paying 8 percent, what will be the value of this gift in 10 years? Use Exhibit 1A. (Round time value factor to 3 decimal places and final answer to the nearest whole number)Your friend has a trust fund that will pay her the following amounts at the given interest rate for the given number of years. Calculate the current (present) value of your friend’s trust fund payments. (Click here to see present value and future value tables) Amount ofYearly Receipt Rate Time Current Value $6,400 10% 6 years $fill in the blank 1 $12,000 12% 10 years $fill in the blank 2 $17,500 5% 14 years $fill in the blank 3 $22,000 15% 15 years $fill in the blank 4Mrs. 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 75,000.00
- Kevin deposits a fixed quarterly amount into an annuity account for his child's college fund. He wishes to accumulate a future value of $90,000$90,000 in 1616 years. Assuming an APR of 3.7%3.7% compounded quarterly, how much of the $90,000$90,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary.1. April Stigum will receive a 20-year annuity of $20,000 annually, beginning six years from today. In other words, the first payment of twenty payments will be made at the end of year 6. Assuming a required rate of return of 5%, calculate the present value today of her annuity. (Round to 2 decimals) 2. Joe and Sarah Fabozzi are saving for the college education of their newborn daughter (born today), Beth. The Fabozzi's estimate that college expenses will run $55,000 per year when their daughter reaches college in 18 years. In other words, the first withdrawal will be made on Beth's 18th Birthday, and the last payment will be made on Beth's 17th Birthday. The expected interest rate while saving and in college is 10%. The first deposit will be made one year from today. Calculate the annual payment the Fabozzi's must make to the account so their daughter will be supported through four years of college. (Round to 2 decimals) 3. George Anders has just been offered a job at $75,000…Q1) Molly receives $3,700 from an investment at the beginning of every month for 2 years at 3.62% compounded semi-annually. What type of annuity is this? Q2) Jeffrey deposits $450 at the end of every quarter for 4 years and 6 months in a retirement fund at 5.30% compounded semi-annually. What type of annuity is this?Q3) How much should Shawn have in a savings account that is earning 3.75% compounded quarterly, if he plans to withdraw $2,250 from this account at the end of every quarter for 7 years?