1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment...

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1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c) 1. Edna invests $30,000 and buys an annuity that pays $2000 every 6 months (1st payment 6 months from now) for 5 years, followed by $1500 every 6 months for as long as possible. The annuity earns interest at /2 = 6% for the first 3 years, followed by i2) = 5% thereafter. How many semi-annual payments will Sally get in total? What would be the size of her final payment if it is made at the same time as his last regular $1500 payment? What would be the size of her final payment if it is made 6 months after his last regular $1500 payment? (a) (b) (c)

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Step 1 Open MS Excel Go to formulas Use FV functionFuture value Calculate the futur... View the full answer