Need the attached 11 questions answer...thank you in advance :)

 

 

#10 – Since 2007, a particular fund returned 13.2% compounded monthly. How much would a $5000
investment in this fund have been worth after 2 years? (Round your answer to the nearest cent.)
Answer: $______
#11 – In the following ordinary annuity, the interest is compounded with each payment, and the payment is
made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your
answer to the nearest cent.) $3500 annually at 7% for 10 years.
Answer: $______
#12 – In the following ordinary annuity, the interest is compounded with each payment, and the payment is
made at the end of the compounding period. Find the required payment for the sinking fund. (Round your
answer to the nearest cent.) Monthly deposits earning 5% to accumulate $7000 after 10 years
Answer: $______
#13 – In the following ordinary annuity, the interest is compounded with each payment, and the payment is
made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the
given accumulated amount. (Round your answer to two decimal places.) $2500 yearly at 7% to accumulate
$100,000
Answer: $______
#14 – In the following ordinary annuity, the interest is compounded with each payment, and the payment is
made at the end of the compounding period. An individual retirement account, or IRA, earns tax-deferred
interest and allows the owner to invest up to $5000 each year. Joe and Jill both will make IRA deposits for 30
years (from age 35 to 65) into stock mutual funds yielding 9.6%. Joe deposits $5000 once each year, while Jill
has $96.15 (which is 5000/52) withheld from her weekly paycheck and deposited automatically. How much
will each have at age 65? (Round your answer to the nearest cent.)
Answer:
Joe $ _______________ Jill $ _______________ #15 – In the following ordinary annuity, the interest is compounded with each payment, and the payment is
made at the end of the compounding period. How much must you invest each month in a mutual fund yielding
11.5% compounded monthly to become a millionaire in 10 years? (Round your answer to the nearest cent.)
Answer: $______
#16 – Calculate the present value of the annuity. (Round your answer to the nearest cent.) $17,000 annually
at 5% for 10 years
Answer: $______
#17 – Determine the payment to amortize the debt. (Round your answer to the nearest cent.)
Monthly payments on $160,000 at 5% for 25 years. Answer: $______
#18 – Determine the payment to amortize the debt. (Round your answer to the nearest cent.)
Quarterly payments on $14,500 at 3.1% for 6 years.
Answer: $______
#19 – Find the unpaid balance on the debt. (Round your answer to the nearest cent.)
After 7 years of monthly payments on $170,000 at 4% for 25 years.
Answer: $______
#20 – The super prize in a contest is $10 million. This prize will be paid out in equal yearly payments over the
next 20 years. If the prize money is guaranteed by AAA bonds yielding 4% and is placed into an escrow
account when the contest is announced 1 year before the first payment, how much do the contest sponsors
have to deposit in the escrow account? (Round your answer to the nearest cent.)
Answer: $______

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Status NEW Posted 22 Apr 2017 07:04 AM My Price 9.00

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