7 10 points eBook Print References You need $24,356 at the end of nine years, and...

 

 

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7 10 points eBook Print References You need $24,356 at the end of nine years, and your only investment outlet is a 11 percent long-term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year. (Use a Financial calculator to arrive at the answers. Round the final answers to the nearest whole dollar.) a. What single payment could be made at the beginning of the first year to achieve this objective? Single payment made $ 9522 b. What amount could you invest at the end of each year annually for nine years to achieve this same objective? Amount to be paid $ 9 10 points Chris Seals has just given an insurance company $60,525. In return, she will receive an annuity of $6,512 for 14 years. a. At what rate of return must the insurance company invest this $60,525 to make the annual payments? (Use a Financial calculator to arrive at the answers. Round the final answer to 3 decimal places.) Rate of return Skipped % eBook b. What rate of return is required if the annuity is payable at the beginning of each year? (Use a Financial calculator to arrive at the answers. Round the final answer to 2 decimal places.) Rate of return Print References % 11 10 points Darla White has just purchased an annuity to begin payment at the end of 2024 (that is the date of the first payment). Assume it is now the beginning of 2021. The annuity is for $14,000 per year and is designed to last 7 years. If the interest rate for this problem is 8 percent, what is the most she should have paid for the annuity? (Use a Financial calculator to arrive at the answer. Round the intermediate and the final answer to the nearest whole dollar.) Skipped Annuity paid $ eBook Print References 7 10 points eBook Print References You need $24,356 at the end of nine years, and your only investment outlet is a 11 percent long-term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year. (Use a Financial calculator to arrive at the answers. Round the final answers to the nearest whole dollar.) a. What single payment could be made at the beginning of the first year to achieve this objective? Single payment made $ 9522 b. What amount could you invest at the end of each year annually for nine years to achieve this same objective? Amount to be paid $ 9 10 points Chris Seals has just given an insurance company $60,525. In return, she will receive an annuity of $6,512 for 14 years. a. At what rate of return must the insurance company invest this $60,525 to make the annual payments? (Use a Financial calculator to arrive at the answers. Round the final answer to 3 decimal places.) Rate of return Skipped % eBook b. What rate of return is required if the annuity is payable at the beginning of each year? (Use a Financial calculator to arrive at the answers. Round the final answer to 2 decimal places.) Rate of return Print References % 11 10 points Darla White has just purchased an annuity to begin payment at the end of 2024 (that is the date of the first payment). Assume it is now the beginning of 2021. The annuity is for $14,000 per year and is designed to last 7 years. If the interest rate for this problem is 8 percent, what is the most she should have paid for the annuity? (Use a Financial calculator to arrive at the answer. Round the intermediate and the final answer to the nearest whole dollar.) Skipped Annuity paid $ eBook Print References