Alix was injured in an accident and will receive $1,200 at the end of each 6-month period for the next 6 years. What is the equivalent lump sum amount using a discount rate of 6%?

Phil expects to pay $24,000 in four years for new car. If he expects to earn an annual 9% rate on his investments, how much should he deposit at the end of each year to attain his goal?

Mia wants to buy a home 6 years from now. She anticipates spending $100,000 for the purchase, and currently has $25,000 saved. To attain her target, how much should Mia save at the end of each 6-month period if she earns 9% compounded semiannually?

Evelyn wants to save $10,000 at the end of each year for 14 years. If the money goes into an investment account that returns 9% annually, what is the balance of the account in 14 years?

Robert invests $2,000 in an individual retirement account. Each subsequent year he is able to invest $1,000 at the end of each year. What is the value of the account at the end of 15 years if the investment earns 11% annually?

Answer rating: 100% (QA)

Alixs Injury Compensation Alix will receive 1200 at the end of each 6month period for 6 years The di... View the full answer