1. An annuity of $30000 earning 7.3% per annum, compounded monthly, pays $750 monthly. What...
80.2K
Verified Solution
Link Copied!
Question
Finance
1. An annuity of $30000 earning 7.3% per annum, compounded monthly, pays $750 monthly. What is the value of an annuity after 4 years of payments?
2. Brad plans to buy a second-hand car in two and a half years. He estimates that he will need $15000. To accumulate this amount, he plans to make monthly payments to an investment that earns 6.5% per annum, compounded semi-annually. How much should his monthly payments be?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.