General Annuity

Help Carrie Humphry determine the accumulated value after twelve years when payments of $1,880.00 are made at the beginning of each year, if interest is 6.65% compounded monthly.

• $35,634.04

• $69,791.48

• $69,580.61

• $97,980.81

Simon Chalmers set aside $1,287.00 at the beginning of each month for the purchase of a Lexus.  How much money will Simon have available after four years if he is getting 5.95% interest, compounded semi-annually?

• $35,634.04

• $69,791.48

• $69,580.61

• $97,980.81

Jennifer Lee saves $42.00 at the end of each month and deposits the money in an account paying 8.15% compounded quarterly. How much of the accumulated value is interest in seventeen years? 

• $19,052.86

• $18,437.23

• $11,876.86

• $9,745.68

Colleen Saunders repaid a loan by making payments of $2,042.00 at the beginning of every six months for ten years.  If interest on the loan is 6% compounded quarterly, what was the principal of the loan?

• $31,233.03

• $18,437.23

• $46,653.97

• $9,869.23

A second mortgage requires Priscilla Luarca to make payments of $382.00 at the end of each month for thirteen years.  If interest is 4% compounded semi-annually, what was the amount Priscilla borrowed? 

• $31,233.03

• $18,437.23

• $46,500.25

• $9,869.23

Sarah Hou fulfilled a contract by making payments of $8,878.00 at the beginning of every year for thirteen years.  If interest is 4% compounded quarterly, what is the cash price of the contract?

• $13,124.05

• $11,690.92

• $46,653.97

• $91,907.44

What is the discounted value of $1,648.00 paid by Vittorio Contestabile at the beginning of each year for eleven years?  Interest is 7% compounded quarterly.

• $12244.19

• $11,690.92

• $46,653.97

• $91,907.44

What sum of money must Chris Quan deposit at the beginning of every three months into an account pay 5.75% compounded monthly to accumulate to $23,000.00 in twelve years?

• $330.64

• $131.56

• $374.40

• $124.63

Tags

CCSS.8.EE.C.7B

Noreen Point bought a car prices at $29,300.00 for 16% down and equal monthly payments for six years.  If interest is 3.15% compounded semi-annually, what is the size of the monthly payment?

• $330.64

• $118.95

• $375.37

• $124.63

How long would it take Lori Kwok to save $6,000.00 by making deposits of $140.00 monthly into a savings account earning 4.65% compounded quarterly?

• 3.31 years or 3 years, 3 months and 22 days

• 3.29 or 3 years, 3 moths and 19 days

• 4.55 or 4 years, 6 months and 19 days

• 9.20 or 9 years, 2 months and 13 days