Computing Annuity Amounts Under Different Situations

Answer the questions $to$ the following four separate scenarios.

For #$1to$ #$3,$ round your answer $to$ the nearest whole dollar.

For #$4$ and #$5,$ enter the percent rounded $to$ two digits after the decimal; enter $2\mathrm{.}04$ for $2\mathrm{.}044\%or2\mathrm{.}05$ for $2\mathrm{.}045\%.$

$Do$ not use a negative sign with your answer.

$1.$ Julie has $$45,000in$ a fund that earns $6\%$ annual compound interest.Answer $1$

$If$ she desires $to$ withdraw $itin$ five equal annual amounts, starting today

$(at$ beginning $of$ period$),$ how much would she receive each year?

$2.$ Jules deposits $$450$ each semiannual period starting today $(at$ beginning $of$ period$)$;Answer $2$

this account earns $4\%(annual$ rate$).$ What $is$ the balance $in$ the account $at$ the end $of$ year $10?$

$3.$ Jill purchases a new automobile that cost $$25,200.$ She receives $a$ $$7,200$ trade$-$inAnswer $3$

allowance for her old auto and signs $a$ $$18,000$ note with a market rate $of8\%.$ The note requires

eight equal quarterly payments starting $at$ the end $of$ the first quarter from date $of$ purchase.

What $is$ the amount $of$ each payment?

$4.$ June deposits $$3,600at$ the end $of$ each year $inan$ investment account for five years atAnswer $4$

compound interest. The fund has a balance $of$ $$22,421at$ the date $of$ the last deposit.

What rate $of$ interest did she earn?

$5.On$ January $1,$ Jin owed a debt $of$ $$27,234.An$ agreement was reached that she would pay the debt plusAnswer $5$

compound interest $in24$ monthly installments $of$ $$1,260,$ the first payment $tobe$ made $at$ the end $of$

January. What rate $of$ annual interest $is$ she paying?