Find the accumulated value of this annuity

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Reference no: EM131870649

1. Smith borrows $5,000 on January 1, 2007. He repays the loan with 20 annual payments, starting January 1, 2008. The payments in even-number year are 2X each; the payments in odd-number years are X each. If d = 0.08, find the total amount of all 20 payments.

2. A 5-year annuity due has periodic cash flows of $100 each year. Find the accumulated value of this annuity if the effective annual interest rate is 8%.

3. Jim began saving money for his retirement by making monthly deposits of 200 into a fund earning 6% interest compounded monthly. The first deposit occurred on January 1, 1985. Jim became unemployed and missed making deposits 60 through 72. He then continued making monthly deposits of 200. How much did Jim accumulate in his fund on December 31, 1999 ?

Reference no: EM131870649

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