A 30-year annuity has end-of-month payments. The first year the payments are $120 each. In subsequent...

A 30-year annuity has end-of-month payments. The first year the payments are $120 each. In subsequent years the monthly payment increases by $5 over what it was the previous year.

Find the accumulated value of this annuity if AEIR=3%

	A.	84,820
	B.	42,390
	C.	105,070
	D.	100,620
	E.	41,560

Expert Solution

milcah answered 2 years ago

a 20-years annuity-immediate has annual payments . The first payment is 100 and subsequent payments are...

a 20-years annuity-immediate has annual payments . The first payment is 100 and subsequent payments are increased by 100 until they reach 1000. The remaining payment stay at 1000. the annual effective intersst rate 7.5% . What is the coast of this annuity?

A 15-year annuity pays $1,000 per month, and payments are madeat the end of each...

A 15-year annuity pays $1,000 per month, and payments are made at the end of each month. The interest rate is 15 percent compounded monthly for the first six years and 14 percent compounded monthly thereafter. What is the present value of the annuity?Multiple Choice$108,515.59$72,323.18$867,878.16$70,876.72$73,769.64

A 20-year annuity pays $1,450 per month, and payments are madeat the end of each...

A 20-year annuity pays $1,450 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded monthly for the first ten years, and 7 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

A 13-year annuity pays $1,400 per month, and payments are made at the end of each...

A 13-year annuity pays $1,400 per month, and payments are made at the end of each month. The interest rate is 12 percent compounded monthly for the first Five years and 11 percent compounded monthly thereafter. Required: What is the present value of the annuity? A) $1,343,944.86 B) $109,755.50 C) $111,995.40 D) $152,061.20 E) $114,235.31

A 15-year annuity pays $1,500 per month, and payments are made at the end of each...

A 15-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 10 percent compounded monthly for the first seven years, and 6 percent compounded monthly thereafter, what is the present value of the annuity?

A 17-year annuity pays $1,600 per month, and payments are made at the end of each...

A 17-year annuity pays $1,600 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly for the first six years and 9 percent compounded monthly thereafter. What is the present value of the annuity? $153,407.29 $150,339.14 $156,475.43 $217,830.03 $1,840,887.45

A 13-year annuity pays $1,100 per month, and payments are made at the end of each...

A 13-year annuity pays $1,100 per month, and payments are made at the end of each month. The interest rate is 9 percent compounded monthly for the first five years and 6 percent compounded monthly thereafter. What is the present value of the annuity?

A 20-year annuity pays $2,100 per month, and payments are made at the end of each...

A 20-year annuity pays $2,100 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded monthly for the first ten years, and 7 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

A 12-year annuity pays $1,400 per month, and payments are made at the end of each...

A 12-year annuity pays $1,400 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly for the first six years and 10 percent compounded monthly thereafter. What is the present value of the annuity?

A 18-year annuity pays $1,300 per month, and payments are made at the end of each...

A 18-year annuity pays $1,300 per month, and payments are made at the end of each month. The interest rate is 12 percent compounded monthly for the first six years and 10 percent compounded monthly thereafter. What is the present value of the annuity?

Question