Shelby purchases a retirement annuity that will pay her $3,000 at the end of every six months for the first eight years and $200 a the end of every month for the next three vears Tbe appuity earns interest at a rate
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- Laura purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first eleven years and $800 at the end of every month for the next five years. The annuity earns interest at a rate of 5.7% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Laura receive from the annuity? Round to the nearest centMichelle purchases a retirement annuity that will pay her $3,000 at the end of every six months for the first eleven years and $600 at the end of every month for the next five years. The annuity earns interest at a rate of 2.3% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Michelle receive from the annuity? Round to the nearest centSarah purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first nine years and $700 at the end of every month for the next five years. The annuity earns interest at a rate of 4.1% compounded quarterly. 4 a. What was the purchase price of the annuity? $0.00 Round to the nearest cent b. How much interest did Sarah receive from the annuity? Round to the nearest cent
- Erica purchases a retirement annuity that will pay her $1,500 at the end of every six months for the first twelve years and $500 at the end of every month for the next six years. The annuity earns interest at a rate of 3.8% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Erica receive from the annuity? Round to the nearest centShawn purchases a retirement annuity that will pay him $1,000 at the end of every six months for the first nine years and $300 at the end of every month for the next six years. The annuity earns interest at a rate of 2.8% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Shawn receive from the annuity? Round to the nearest centAmanda purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first nine years and $700 at the end of every month for the next six years. The annuity earns interest at a rate of 4% compounded quarterly. a. What was the purchase price of the annuity? b. How much interest did Amanda receive from the annuity? Not use excel
- Amy purchases an annuity that will give her payments of R at the end of each quarter for seven years. She will receive the first of these payments in 1.5 years. If Amy paid $50,000 for this annuity and will earn a nominal rate of interest of 6% compounded quarterly,(a) write the equation of value (using the appropriate actuarial notation) for this annuity at the time of purchase. Be sure to indicate the effective rate per payment period being used.(b) find the value of R.Jane receives payments of X at the beginning of each year forever. The present value of her annuity is 460.May receives payments of 6X at the beginning of each year for 2n years. The present value of her annuity is 2600. If both accounts have the same annual effective rate of interest, i, calculate vn. Round your answer to 4 decimal places.Christina will receive a 5-year annuity of $1,200 a year, with the first payment occurring at Date 4. What is the value of this annuity to her today at a discount rate of 7.25 percent? A. $4,111.08 B. $4,209.19 C. $4.774.04 D. $3,961.80 E. $4,887.48 The answer given is E, however, mine is D. Could you help me to explain this question?
- Kavita determines that to receive an annuity of $6900 each quarter for 5 years at 6.5% per year compounded quarterly, she must deposit $117 016.64. How much must Kavita deposit for an annuity that pays twice as much, $13 800, each quarter? a) She must deposit exactly twice as much. b) She must deposit exactly half as much. C) She must deposit more than twice as much. d) She must deposit less than half as much.The terms of a single parent's will indicate that a child will receive an ordinary annuity of $12,000 per year from age 18 to age 24 (so that the child can attend college) and that the balance of the estate goes to a niece. If the parent dies on the child's 12th birthday, how much money must be removed from the estate to purchase the annuity? (Assume an interest rate of 7%, compounded annually. Round your answer to the nearest cent.)Danielle receives $7,500 at the end of every quarter for 5 years for money that she loaned to a friend at 3.08% compounded quarterly. a. What type of annuity is this? a.Ordinary simple annuity b.Ordinary general annuity c.Simple annuity due d.General annuity due b. How many payments are there in this annuity? Round up to the next payment