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Determine the present value of weekly deposits

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1) Diane has an insurance policy with a cash value at age 65 that will provide upon retirement monthly payments of $1800 for 19 years, first payment one month after reaching 65. If the insurance company pays 6.2%/year compounded monthly on its funds, what is the cash value of the insurance policy at age 65?

2) Determine the present value of weekly deposits of $330 that are expected to be made for 12 years if the deposits earn 6.4% per annum compounded weekly for the first 6 years and 6.3% per year compounded weekly thereafter. Assume the deposits are made at the end of each week.

Reference no: EM132958367

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