44. How much money should be in an account if it earns 5.25%…

Question 44. How much money should be in an account if it earns 5.25%… 44. How much money should be in an account if it earns 5.25% compounded monthly and deposits of $75 are made at the end of each month for 4 years and 6 months? How much of the value of the account can be attributed to the interest earned?45. You want have $12,000 at the end of 6 years for the down payment on a house. If you can invest your money at 3.25% compounded month, what payment would have have to make into the account at the end of each month for the 6 years?Present Value of Ordinary Simple46. What is the present value of an annuity if the payments of $800 are made at the end of each quarter for 6 years and the investment earns 4.80% compounded quarterly?47. Jacob is making monthly payments of $350 on a loan for 7 year 3 months. He is being charged 6.25% compounded monthly. What was the original value of the loan? How much interest will Jacob pay over the entire timeframe of the loan?48. How much money should Eva deposit in an investment account that is growing at 6% compounded semi-annually to be able to withdraw $3,300 at the end of every six months for four years?49. What is the payment required at the end of each quarter to pay off a loan of $400,000 at 6% compounded quarterly over 25 yearsFuture Value of Annuity Due Simple50. What is the future value of an annuity due if the payments of $4,500 are made at the beginning of each year for 8 years and the investment earns 4.80% compounded annually?51. Sean contributes $200 at the beginning of every month into an account that earns 7.25% compounded monthly. What is the accumulated value of the fund after 10 years of contributions?52. Benedict wants to make 8 payments of $2,250 at the beginning of every six months into his account. What amount will he have at the end of the 4-year timeframe and how much will be interest earned if the interest rate is 8.65% compounded semi-annually?53. Cassandra made semi-annual deposits into a fund earning 6.8% compounded semi- annually at the beginning of every six-month period. After making deposits for nine years she noticed there was $77,820.42 in her account. What size were her deposits?Present Value of Annuity Due Simple54. What is the present value of an annuity created with $1200 payments at the beginning of the month for 6 years and 7 months at a 3.65% compounded monthly?55. Tom converts his RRSP that was earning 5.5% compounded monthly into an RRIF. What was in his RRSP that will enable him to receive $3,000 at the beginning of every month for 10 years?56. Tom wants to make 6 payments of $2,250 at the beginning of every six months from his account. What amount must he have in this account if it is earning 3% compounded semi-annually?57. Rachel invested $156,000 in a retirement plan that earns 4.25% monthly. What payment will she receive out of the plan if she receives payments at the beginning of each month for 15 years?General Annuities58. What is the future value of 15 years of payments of $1,100 made at the end of each month with the interest rate is 6.25 compounded quarterly?59. What is the present value of 20 years of payments of $500 made at the beginning of each quarter when interest rates are 17% compounded monthly?Payments (PMT)60. Jordan purchased a car for $30,000. He paid 10% of the cost as a down payment and financed the balance amount at 7% compounded monthly for five years. What is the size of the payment made at the end of each month to settle the loan?61. Misty has graduated and must repay a $9,000.00 student loan. Interest is 6.25% compounded monthly and the term of the loan is seven years. She decides to make her first payment today.a. How much will her monthly payment be?b. What is the total amount of interest Misty will pay on the loan?62. Ramone wished to have $250,000 in his savings account by the time he retires. He has 12 years to make contributions. Current interest rates are 6.6% compounded monthly. c. How much must Ramone contribute at the end of each month in order for himto reach his goal?d. How much of the $250,000 is attributable to Ramone’s contributions and howmuch is the interest that has been earned?63. Cyrus purchased a networking system for his office for $20,000 using a five-year loan at 6.5% compounded daily. If the first payment was made a month from when he purchased the system, what is the size of the monthly payment? Math Applied Mathematics MATH MISC Share QuestionEmailCopy link Comments (0)