Question 21 (1 point) 18 of 30 questions saved James Dean promised to pay his so

Question

Question 21 (1 point) 18 of 30 questions saved James Dean promised to pay his son $400 semiannually for 5 years. If James can invest his money at 10 percent in an ordinary annuity, James must invest how much today? (Use the tables in the handbook) Page 1: 1) $5,031.16 2) $5,130.02 3) $3,088.68 4) $3,808.08 5) None of the above Save 10 1112 a la B Question 22 (1 point) 131415 a 8 8 At the beginning of each period. Al Rose invests $1.200 semiannually at 12 percent for 8 years. The cash value of the annuity due at the end of the eighth year is: (Use the tables in the handbook) 16 1718 a 8 B 1) $32,655.36 2) $24.255.60 19 20 21 a 8 3) $30,807.60 4) $29.607.60 5) None of the above 22 23 24 25 26 27 Save Question 23 (1 point) 28 29 30 How much will Bill Rodgers need to invest today so that he may withdraw $7.000 each year for the next 9 years, assuming a rate of 11 percent compounded annually? (Use the tables in the handbook) Legend E Saved Response 3 1) $41.233 2) $41.322 3) $38,759 4) $38.597 5) None of the above Unsaved Response O into itom Save Question 20 Saved estion 24/1 point

Explanation / Answer

21 Semi annual payment 400 present value annuity n=10 i = 5% 7.7217 Amount to be invested today 3088.68 22 Semiannual investment 1200 Annuity value beginning n=16 i = 6% 25.67253 Cash value at end of period 30807.6

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