Question: please use the formula below to solve for annuity due 8. [0.13/1.125 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.3.033.NVA MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER

please use the formula below to solve for annuity due [0.13/1.125 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.3.033.NVA MY NOTES ASK YOUR TEACHER

8. [0.13/1.125 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.3.033.NVA MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Mr. Gordon plans to invest $300 at the end of each month in an account that pays 12%, compounded monthly. After how many months will the account be worth $30,000? (a) State whether the problem relates to an ordinary annuity or an annuity o ordinary annuity O annuity due (b) Solve the problem. (Round your answer Up to the nearest month.) 43 x months 9. [0.13/1.125 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.3.035. NVA MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month in an investment that pays 11%, compounded monthly, if they want the balance to be $190,000 at the end of 18 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $281.8 Submit Answer (1+i)" - 1 S=R

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