Exam 11: Ordinary Simple Annuities

What is the size of semi-annual deposits that will accumulate to $113 200.00 after 9.5 years at 6.5% compounded semi-annually?

A trust fund is set up to make payments of $1320.00 at the end of each month for seven years.Interest on the fund is 7.28% compounded monthly. a)How much money must be deposited into the fund? b)How much will be paid out of the fund? c)How much interest is earned by the fund?

You currently have $4541 saved towards the purchase of a home theatre system.You want to be able to buy a system for $6225 plus GST in 4 years.Your money is earning 4.84% compounded monthly.What is the size of your monthly deposit?

What is the nominal rate of interest if a six-year loan of $71 000.00 is repaid by monthly payments of $1701.58?

Janice plans to retire in 10 years and would like to receive $3000.00 per month for fifteen years starting at the end of the first month after her retirement.Calculate the amount she must invest now if interest is 7.5% compounded monthly.

Find the present value for payments of $500.00 made at the end of each quarter for ten years,if interest is 8% compounded quarterly.

Nuclear power plants are required to have full decommissioning costs accumulated during the useful life of the plant.The new nuclear plant at Darlington is designed for 60 years of operational life starting in 2025.OPG plans to set aside $1 million per month during the operation of the plant.What is the value of this annuity in 2025,if OPG uses Ontario's recommended discount rate of 2.5% compounded monthly?

To what will deposits of $47.00 made at the end of each month amount to after seven years if interest is 10.8% compounded monthly?

For the last four years Joe Thiesman has made deposits of $300.00 at the end of every six months earning interest at 5.7% compounded semi-annually.If he leaves the accumulated balance for another ten years at 3.2% compounded quarterly,what will the balance be in Joe's account?