Future & Present Values of Simple & General Annuity
Authored by matthew ferreras
Mathematics
11th Grade
Used 29+ times
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10 questions
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1.
FILL IN THE BLANK QUESTION
2 mins • 1 pt
How much money must you deposit now at 6% interest compounded quarterly in order to be able to withdraw 3,000 pesos at the end of each quarter year for two years?
NOTE: Express your answer in this format - 123,456.99 pesos
2.
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2 mins • 1 pt
Suppose you invested 1000 pesos per quarter over a 15 year period. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period. How much is the interest earned?
NOTE: Express your answer in this format - 123,456.99 pesos
3.
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2 mins • 1 pt
A bank loans a family 90,000 pesos at 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making monthly payments over a 15 year period. How much should the monthly payment be in order to pay off the debt in 15 years?
NOTE: Express your answer in this format - 123,456.99 pesos
4.
FILL IN THE BLANK QUESTION
2 mins • 1 pt
Suppose you have selected a new car to purchase for 19,500 pesos. If the car can be financed over a period of 4 years at an annual rate of 6.9% compounded monthly, how much will your monthly payments be?
NOTE: Express your answer in this format - 123,456.99 pesos
5.
FILL IN THE BLANK QUESTION
2 mins • 1 pt
Suppose you will need 12,000 pesos in 3 years. How much must you invest per month in order to have 12,000 pesos if money earns an annual rate 6% compounded monthly?
NOTE: Express your answer in this format - 123,456.99 pesos
6.
FILL IN THE BLANK QUESTION
2 mins • 1 pt
Find the amount of an annuity of 400 pesos every quarter for 10 years if interest is 8% compounded annually.
NOTE: Express your answer in this format - 123,456.99 pesos
7.
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2 mins • 1 pt
Jeffrey has just purchased a new car for 24 400 pesos. He borrows the money and will repay it in monthly instalments over 5 years. The interest rate is 8.4, compounded semi-annually. Find the monthly payment.
NOTE: Express your answer in this format - 123,456.99 pesos
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