Reference no: EM132920132
Question - FV and PV of Annuity Due Non-Annually
Q1. You have decided to place $488 in equal deposits every month at the beginning of the month into a savings account earning 14.57 percent per year, compounded monthly for the next 3 years. The first deposit is made today. How much money will be in the account at the end of that time period?
Q2. What is the present value of the following annuity? $2,863 every half year at the beginning of the period for the next 10 years, discounted back to the present at 8.00 percent per year, compounded semiannually.
Q3. You plan to buy a house in 14 years. You want to save money for a down payment on the new house. You are able to place $289 every month at the end of the month into a savings account at an annual rate of 12.89 percent, compounded monthly. How much money will be in the account after you made the last payment?
Q4. You are going to save money for your son's education. You have decided to place $2,337 every half year at the end of the period into a saving account earning 11.91 percent per year, compounded semi-annually for the next 11 years. How much money will be in the account at the end of that time period?
Q5. A car dealership offers you no money down on a new car. You may pay for the car for 4 years by equal monthly end-of-the-month payments of $677 each, with the first payment to be made one month from today. If the discount annual rate is 17.44 percent compounded monthly, what is the present value of the car payments?
Q6. What is the present value of the following annuity? $4,401 every quarter year at the end of the quarter for the next 11 years, discounted back to the present at 8.87 percent per year, compounded quarterly?
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