How to solve

$13-27.$ Al Vincent has decided to retire to Arizona in $10$ years. What amount should $A1$ invest today so that he will be able to withdraw $$28,000$ at the end of each year for $15$ years after he retires? Assume he can invest the money at $8\%$ interest compounded annually. LU $13-2(1)$

$13-28.$ Victor French made deposits of $$5,000$ at the end of each quarter to Book Bank, which pays $8\%$ interest compounded quarterly. After $3$ years, Victor made no more deposits. What will be the balance in the account $2$ years after the last deposit? $LU13-1(2)$

$13-29.$ Janet Woo decided to retire to Florida in $6$ years. What amount should Janet invest today so she can withdraw $$50,000$ at the end of each year for $20$ years after she retires? Assume Janet can invest money at $6\%$ compounded annually. $LU13-2(1)$

ENGE PROBLEMS

$13-30.$ Assume that you can buy a $$6,000$ computer system in monthly installments for $3$ years. The seller charges you $12\%$ interest compounded monthly. What is your monthly payment? Assume your first payment is due at the end of the month. Use tables in the Business Math Handbook. LU $13-2(1)$

Monthly payment $=\frac{\text{A}\text{m}\text{o}\text{u}\text{n}\text{t}\text{o}\text{w}\text{e}\text{d}}{\text{T}\text{a}\text{b}\text{l}\text{e}\text{f}\text{a}\text{c}\text{t}\text{o}\text{r}}$

for $PVof$ annuity

Ajax Corporation has hired Brad O'Brien as its new president. Terms included the company's agreeing to pay retirement benefits of $$18,000$ at the end of each semiannual period for $10$ years. This will begin in $3,285$ days. If the money can be invested at $8\%$ compounded semiannually, what must the company deposit today to fulfill its obligation to Brad? $LU13-2(1)$ Only odd problems