Question: Solve the following problems. 1. What is the accumulated value after 12 years of monthly deposits of $145 earning interest at 5% compounded semi-annually if

Solve the following problems. 1. What is the accumulated value after

Solve the following problems. 1. What is the accumulated value after 12 years of monthly deposits of $145 earning interest at 5% compounded semi-annually if the deposits are made at the end of each month? (3 marks) Harry paid $250,000 for a 15-year indexed annuity in which the monthly payments received at the end of each month increase by 0.7% per payment. What is the total amount received by Harry if interest is 8.4% compounded monthly? (5 marks) 2

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