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Find the accumulated amount of the annuity

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1. Since 2007, a particular fund returned 13.1% compounded monthly. How much would a $4000 investment in this fund have been worth after 3 years? (Round your answer to the nearest cent.)

2. 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.)

$1500 annually at 7% for 10 years.

3. 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 $4000 after 10 years.

Reference no: EM132218366

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