1.Calculate the amount that must be invested at the end of every six months at 3.75%compounded semiannually in order to accumulate $500000 after 20 years?
2.For $100000, Royal life Insurance Co.will sell a 20-year annuity paying$802.76 at the end of each month.What monthly compounded nominal rate and effective rate of return does the annuitant earn on the invested funds.
3.After contributing $2000 at the end of each quarter for 13 3/4 years.Forster has accumulated $205,064 in his RRSP.What effective rate of return was earned by the RRSP over the entire period.
4.The interest rate on a$100,000 loan is 6% compounded monthly.How much longer will it take to pay off the loan with monthly payments of $1000 tgan with monthly of $1050?
5.An annuity purchase for $175,000 pays $4000 at the end of every quarter.How long will the payments continue if the funds earn 4% compounded semiannually.
6.Howardson Electric obtained a 90,000 loan at 6.65% compounded monthly.what size of semiannual payments will repay the loan in 10 years.