Question: Hello please explain what equation you use and the steps thanks 2-9. Determine the value of each described annuity. Each annuity is ordinary, unless otherwise

Hello please explain what equation you use and the steps thanks

2-9. Determine the value of each described annuity. Each annuity is ordinary, unless otherwise specified. 2 Financial Mathematics 2.4 Exercises (a) Invest $1000/month for 5 years, at a nominal rate of 3.2% compounding monthly. (b) An initial lump sum payment of $50,000, followed by semi-annual contributions of $10,000, growing at a nominal rate of 5.7% compounding semi-annually, for 10 years. (c) Invest $1,000 monthly into a bond fund, with a 2.4% APR, compounded monthly. Invest another $1,000 monthly into an equity fund returning 6.1% yearly, compounded monthly. Make both investments over a span of 20 years. (d) Consider the same investment scheme as (c), but add in one time initial lump sum investment of $100,000, split 20-80 into bond and equities

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