Business Math

Anunities

Please answer correctly!

Calculate the amount that must be invested at the end of each year at 10.3% compounded annually in order to accumulate $630,000 after: (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. 25 years. $ b. 30 years. $ In each case, also determine what portion of the $630,000 represents earnings on the annual investments. (Round your intermediate calculations and final answers to 2 decimal places.) $ a. Earnings portion b. Earnings portion $ If money can earn 6.3% compounded monthly, how much more money is required to fund an ordinary annuity paying $220 per month for 25 years than to fund the same monthly payment for 15 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) $ ta more is required