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Question 1 What is the accumulated sum of the following stream of payments? $924 every year...

Question 1

What is the accumulated sum of the following stream of payments?
$924 every year at the end of the year for 11 years at 5.88 percent, compounded annually.

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Question 2

For the next 15 years, you decide to place $4,171 in equal year-end deposits into a savings account earning 14.91 percent per year. How much money will be in the account at the end of that time period?

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Question 3

What is the present value of the following annuity?
$994 every year at the end of the year for the next 13 years, discounted back to the present at 14.31 percent per year, compounded annually?

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Question 4

You have accumulated some money for your retirement. You are going to withdraw $98,014 every year at the end of the year for the next 21 years. How much money have you accumulated for your retirement? Your account pays you 3.86 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.

Round the answer to two decimal places.

Solutions

Expert Solution

jeff jeffy answered 5 months ago
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