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Question: 0/2 points Previous Answers MathAp 11 64 045 A young couple wants to have a college fund that wil…
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Question: 0/2 points Previous Answers MathAp 11 64 045 A <a href=young couple wants to have a college fund that wil…” />

Show transcribed image text 0/2 points Previous Answers MathAp 11 64 045 A young couple wants to have a college fund that will pay $40,000 at the end of each half-year for 8 years. (a) If they can invest at 9%, compounded semiannually, how much do they need invest at the end of each 6 period for the next 18 years in order to begin making their college withdrawals 6 months after their last investment? (Round answer to the nearest your cent.) (b) suppose 8 years after beginning the annuity payments, they receive an inheritance of $33,000 that they contribute to the account, and they continue to make their regular payments as found in part (a). How many college withdrawals will they be able to make before the account balance is $0? (Round your answer to the nearest whole number.) X withdrawals Need Help? Read It submit Answer save Progress Practice Another Version 11 points I Previous Answers 116 4049. The terms of single parent's will indicate that a child will receive an ordinary annuity of $13,000 per year from age 18 to age 24 (so the child can attend college) and that the balance of estate goes to a niece. If the parent dies on the d's 10th birthday, how much money must be the removed from the estate to purchase the annuity? (Assume an interest rate compounded annually. Round your answer to the nearest cent.) 53459 48 a

0/2 points Previous Answers MathAp 11 64 045 A young couple wants to have a college fund that will pay $40,000 at the end of each half-year for 8 years. (a) If they can invest at 9%, compounded semiannually, how much do they need invest at the end of each 6 period for the next 18 years in order to begin making their college withdrawals 6 months after their last investment? (Round answer to the nearest your cent.) (b) suppose 8 years after beginning the annuity payments, they receive an inheritance of $33,000 that they contribute to the account, and they continue to make their regular payments as found in part (a). How many college withdrawals will they be able to make before the account balance is $0? (Round your answer to the nearest whole number.) X withdrawals Need Help? Read It submit Answer save Progress Practice Another Version 11 points I Previous Answers 116 4049. The terms of single parent's will indicate that a child will receive an ordinary annuity of $13,000 per year from age 18 to age 24 (so the child can attend college) and that the balance of estate goes to a niece. If the parent dies on the d's 10th birthday, how much money must be the removed from the estate to purchase the annuity? (Assume an interest rate compounded annually. Round your answer to the nearest cent.) 53459 48 a

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