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Find the present value of an annuity

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-Find the present value of an annuity of $7000 paid at the end of each 6-month period for 2 years if the interest rate is 4%, compounded semiannually. (Round your answer to the nearest cent.)

-With a present value of $135,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years if money is worth 6.6%, compounded quarterly? (Round your answer to the nearest cent.)

-A personal account earmarked as a retirement supplement contains $242,300. Suppose $200,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $4500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)

Reference no: EM132514833

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