Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $300 per year in a...

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Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $300 per year in a credit union for the next 8 years, and the credit union pays an annual interest rate of 12% a. Determine the future value that Janet will have in 8 years, given that end-of-period deposits are made and no interest is withdrawn, if (1) $360 is deposited annually and the credit union pays interest annually (2) $180 is deposited semiannually and the credit union pays interest somiannually (3) $90 is deposited quarterly and the credit union pays interest quarterly b. Use your finding in part a to discuss the effect of more frequent deposits and compounding of interest on the future value of an annuity a. (1) If $360 is deposited annually and the credit union pays interest annually, the future value that Janet will have at the end of 8 years is $ (Round to the nearest cent.) Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $300 per year in a credit union for the next 8 years, and the credit union pays an annual interest rate of 12% a. Determine the future value that Janet will have in 8 years, given that end-of-period deposits are made and no interest is withdrawn, if (1) $360 is deposited annually and the credit union pays interest annually (2) $180 is deposited semiannually and the credit union pays interest somiannually (3) $90 is deposited quarterly and the credit union pays interest quarterly b. Use your finding in part a to discuss the effect of more frequent deposits and compounding of interest on the future value of an annuity a. (1) If $360 is deposited annually and the credit union pays interest annually, the future value that Janet will have at the end of 8 years is $ (Round to the nearest cent.)

Answer rating: 100% (QA)

Annuities and Compounding for Janets Savings We can calculate the future value FV of Janets savings ... View the full answer