Contemporary Mathematics

Mathematics

Quiz 12 :

Annuities

Quiz 12 :

Annuities

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The table factor for an annuity due is found by one period to the number of periods of the annuity and then subtracting from the resulting table factor.
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The table factor for the annuity due is found by adding one period to the number of periods of the annuity and then subtracting 1.00000 from the resulting table factor.

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Use Table 12-1 to calculate the future value of the following annuities due. img img
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To calculate future value (Amount) of an ordinary Annuity, use the following steps.
1. Calculate the interest rate per period for the annuity (nominal rate periods per year)
2. Determine the number of periods of the annuity (years periods per year)
3. From table 12-1, locate the ordinary annuity table factor at the intersection on the rate-per-period column and the number-of-period row.
4. Calculate the future value of the ordinary annuity.
Future value ordinary annuity table factor Annuity payment
(Ordinary annuity)
Here,
1. Number of periods of the annuity due for a total is
img 2. Interest rate per period is
img .
3. The ordinary annuity table factor at the intersection of the rate column and the periods row is
img .
4. Subtract
img from the table factor:
img Ordinary annuity table factor
img Annuity due table factor.
5. Future value
img Annuity due table factor
img Annuity payment.
img Therefore the required future value of the annuity due is
img .

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Write the formula for calculating the future value of an ordinary annuity when using a calculator with an exponential function, yx , key.
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The formula for calculating the future value of an ordinary annuity when using a calculator with an exponential function
img , key is
img .

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Use Table 12-2 to calculate the present value of the following ordinary annuities. img img
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Use Table 12-1 to calculate the future value of the following ordinary annuities. img img
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The total amount of the annuity payments and the accumulated interest on those payments is known as the value of an annuity.
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Write the formula for calculating the future value of an annuity due when using a calculator with an exponential function, ( yx ), key.
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Use Table 12-2 to calculate the present value of the following ordinary annuities. img img
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Use Table 12-1 to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity) for the following sinking funds. img img
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Use Table 12-1 to calculate the future value of the following ordinary annuities. img img
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Use Table 12-1 to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity) for the following sinking funds. img img
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Use Table 12-2 to calculate the present value of the following annuities due. img img
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The table factor for the present value of an annuity due is found by one period from the number of periods of the annuity and then adding to the resulting table factor.
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Use Table 12-2 to calculate the present value of the following annuities due. img img
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Use Table 12-1 to calculate the future value of the following annuities due. img img
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An annuity due is paid or received at the of each time period.
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Payment or receipt of equal amounts of money per period for a specified amount of time is known as a(n)
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The lump sum amount of money that must be deposited today to provide a specified series of equal payments (annuity) in the future is known as the value of an annuity.
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An ordinary annuity is paid or received at the of each time period.
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In a simple annuity, the number of compounding per year coincides with the number of annuity per year.
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