Quiz 4 (Annuity)

The definition of annuity ?

• A series of equal amount of payment /deposits made at equal intervals time

• A series of equal amount of discount made at equal intervals time

• A series of equal amount of annuity made at equal intervals time

• A series of marvel movie !

Tags

CCSS.HSA.SSE.B.4

What is the formula for amount of annuity ?

• $S=\ R\ \frac{\left(1+i\right)^{n\ }+\ 1}{i}$

• $S\ =\ R\ \frac{\left(1+r\right)^{n\ }-\ 1}{i}$

• $S\ =\ R\ \frac{\left(1+r\right)^{n\ }-1}{r}$

• $S\ =\ R\ \frac{\left(1+i\right)^{n\ }-1}{i}$

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CCSS.HSA.SSE.B.4

Raymond has to pay ₱300 every month for 24 months to settle a loan at 12% compounded monthly. Find the periodic payments .

• i = 12%

• R= 300

• n = 24

• n = 0.12

 $S\ =\ R\ \frac{\left(1\ +\ i\ \right)^n-1}{i}$  what is the meaning of  $R$  

• Recycle

• Interest Period

• Periodic Payments

• Interest Rate 

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CCSS.HSA.SSE.B.4

When is payment made on an ordinary annuity?

• Beginning of the period
• Middle of the period
• First 3 days of the period
• End of the period

Marcie Mays plans to have ₱350,000 in a retirement fund 30 years from now. What monthly ordinary annuity payment should she make if the investment she has selected earns 7.2% annual interest?

• ₱3,129.09

• ₱871.29

• ₱275.76

• ₱2,757.59

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CCSS.HSF.BF.A.2

Maria deposits ₱100 every month for 6 years into an account that earns 5% compounded monthly. How much interest will her account have earned?

• ₱1,176.43

• ₱7200.00

• ₱8,376.43

• ₱2,235.56

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CCSS.HSF.BF.A.2

An investor has been making ₱1,000 annual contributions to his account for five years. In this problem, should the future value be more than, less than, or equal to ₱5,000?

• less than ₱5000

• more than ₱5000

• equal to ₱5000

• All of them

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CCSS.HSF.BF.A.2

You have received ₱10,000 from an investment account in which you started investing five years ago. The initial investment will be:

• more than ₱10,000

• less than ₱10,000

• equal to ₱10,000

• no option to choose

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CCSS.HSF.BF.A.2

An ordinary annuity was purchased 5 years ago. The annuity pays 8% compounded quarterly. The quarterly payments have been ₱500. What is the total value of the annuity to date?

• ₱12,148.68

• ₱2,602.02

• ₱2,933.30

• ₱22,880.98