QUIZ 4 ANNUITY

Maria deposits RM100 every month for 6 years into an account that earns 5% compounded monthly. How much interest will her account have earned?

• RM1,176.43

• RM7,200.00

• RM8,376.43

• RM2,235.56

Tags

CCSS.HSF.BF.A.2

Marcie Mays plans to have RM350,000 in a retirement fund 30 years from now. What monthly payment should she make, if the investment she has selected earns 7.2% compounded monthly?

• RM3,129.09

• RM871.29

• RM2,375.76

• RM2,757.59

Tags

CCSS.8.EE.C.7B

An investor has been making RM1,000 annual contributions to his account for five years. In this problem, should the future value be more than, less than, or equal to RM5,000?

• less than RM5,000

• more than RM5,000

• equal to RM5,000

• All of them

Tags

CCSS.HSF.BF.A.2

An ordinary annuity was purchased 5 years ago. The annuity pays 8% compounded quarterly. The quarterly payments have been RM500. What is the total value after 5 years?

• RM12,148.68

• RM2,602.02

• RM2,933.30

• RM22,880.98

Maria borrowed RMZ from a bank which she pays RM100 every month for 6 years into an account that earns 5% compounded monthly. What is the value of Z?

• RM6209.28

• RM7200.00

• RM8,376.43

• RM2,235.56

Lily deposits RM100 every month for 5 years 8 months into an account that earns 5% compounded monthly. What is the value of n?

• 68

• 5.8

• 6

• 60

Tags

CCSS.HSF.BF.A.2