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Sam deposited $1,000 dollars today in a fixed-rate, tax-deferred annuity, which guarantees an 8% return with quarterly compounding. Commencing with the next year, he subsequently deposits $250 every 3 months at the end of the period, for the next 9 years. What is the value of the annuity at maturity?
a. $10,720b. $12,999c. $15,038d. $15,298
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by using a present value table, your calculator, or a computer program present value function, answer the following questions: Find out the present value of nine annual cash payments of $8,000, to be paid at the end of each year using interest rate ..
You would like to start saving for retirement. Supposing you're now 20 years old and you want to retire at age 60, you've 40 years to watch your investment grow. Compute how much your accumulated investment is expected to be in 40 years.
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