1 suppose that an annuity will make 13 annual payments, Ask an Expert

Finance

1. Suppose that an annuity will make 13 annual payments, starting with 1740 dollars and increasing by 4 percent each year. If the effective rate of interest is 7.3 percent, what is the present value of the annuity 5 years before the first payment?

Answer = dollars. (3 decimal place)

2. The Little Red-Haired Girl makes quarterly deposits into an account paying an interest rate of 2.9 percent per quarter. The first deposit is 4900 dollars, and each subsequent deposit is 125 dollars SMALLER than the previous one. How much is in the account immediately after the 15th deposit?

Answer = dollars. (3 decimal place)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92744367

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