Sunday
April 19, 2015

Homework Help: Annuity!

Posted by Thara! on Saturday, April 10, 2010 at 8:13pm.

When Raisel's son was born, she put $7,500 in an investment that earns 5.25% compounded quarterly. This investment will mature when her son turns 18 and will go straight into an annuity at 7.25% compounded and paying out monthly at the end of the period. The investment was to help pay for his 4-years of college. Find the size of these monthly payments received by Raisel's son during his college stay.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

math! - When Raisel's son was born, she put $7,500 in an investment that earns 5...
math help plz! - When Cody's son was born, he put $4,500 in an investment that ...
Math! plz help! - When Cody's son was born, he put $4,500 in an investment that ...
Business Algebra - Part I: As a financial planner a client comes to you for ...
Math - Determine the future value of an annuity due into which quarterly ...
Math - Determine the future value of an annuity due into which quarterly ...
Math - Determine the future value of an annuity due into which quarterly ...
Math - Determine the future value of an annuity due into which quarterly ...
Business Algebra - I need to know the formula for these questions and just how ...
Finite Math - The amount (future value) of an ordinary annuity is given. Find ...

Members