# finite math

What is the present value of an ordinary annuity which has payments of \$1100 per year for 19 years at 5% compounded annually.

1. 👍 0
2. 👎 0
3. 👁 161

## Similar Questions

1. ### Math

James has set up an ordinary annuity to save for his retirement in 17 years. If his quarterly payments are \$650 and the annuity has an annual interest rate of 7%, what will be the value of the annuity when he retires?

2. ### Math

James has set up an ordinary annuity to save for his retirement in 19 years. If his monthly payments are \$250 and the annuity has an annual interest rate of 7.5%, what will be the value of the annuity when he retires? Would the

3. ### Math

Alice Longtree has decided to invest \$400 quarterly for 4 years in an ordinary annuity at 8 %. As her financial adviser, calculate for Alice the total cash value of the annuity at the end of year 4.

4. ### Math

Ginny Katz has decided to invest \$700 quarterly for 10 years in an ordinary annuity at 8 percent. The total cash value of the annuity at end of year 10 is?

1. ### math

The terms of a single parent's will indicate that a child will receive an ordinary annuity of \$20,000 per year from age 18 to age 24 (so the child can attend college) and that the balance of the estate goes to a niece. If the

2. ### math

Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 3.5%/year compounded monthly. If the future value of the annuity after 12 years is \$50,000, what was the size of each

3. ### finite mathematics

Find the present value of the ordinary annuity. Please round the answer to the nearest cent.\$2,000 per semiannual period for 7 yr at 12%/year compounded semiannually

4. ### finite math

A \$1.2 million state lottery pays \$5,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 7.7%, compounded monthly? (a) Decide

1. ### math

Suppose payments were made at the end of each quarter into an ordinary annuity earning interest at the rate of 9%/year compounded quarterly. If the future value of the annuity after 8 yr is \$80,000, what was the size of each

2. ### algebra

Suppose a retiree wants to buy an ordinary annuity that pays her \$2,000 per month for 20 years. If the annuity earns interest at 3.5% interest compounded monthly, what is the present value of this annuity?

3. ### Corporate Finance

A 15-year annuity pays \$1,750 per month, and payments are made at the end of each month. If the interest rate is 10 percent compounded monthly for the first seven years, and 6 percent compounded monthly thereafter, what is the

4. ### college math

Calculate the future value of an ordinary annuity consisting of annual payments of \$1,000 for 4 years if the payments earn 10.70% compounded annually for the first 2 years and 9% compounded annually for the last 2 years. For full