MAT 0460 PREP FOR ANNUITIES: FUTURE VALUE Identify the interest rate per period i and the number n of interest periods for each interest schedule 1. 8% compounded monthly for 6 years 2. 5.25% compounded quarterly for 10 years 3. 3.1% compounded monthly for 20 years Identify the future value S, the regular payment R, the interest rate per period i, and the number of periods n for each of the following annuity examples. 4. Starting with the birth of their child, a family 5. A student deposits $150 each month in an sets aside $400 each year in a college fund. If account that earns 3% interest. After 6 years, the account earns 5%% interest each year, it the account is worth $11,817. will be worth $11,253 when the child is 18. 6. A company establishes a sinking fund to cover planned maintenance, budgeting for $50,000 in 10 years. This fund will require payments of $1018 each quarter in an account that earns 4.1%% interest.MAT 0460 PREP FOR ANNUITIES: FUTURE VALUE 7. Consider the sinking fund in the previous question. A. What is the total amount deposited by the How much interest did the annuity earn over company in this annuity? the 10 years? If the total amount deposited had been d. What one-time deposit would be required in invested as a one-time deposit with the same an account with the same interest rate to interest rate, how much would the account cover the planned maintenance costs? be worth after 10 years