What is the accumulated value of retirement plan

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Frank has deposited $1000 at the end of each year into a retirement savings plan for the last 10 years. His deposits earned interest at 8% per annum for the first 3 years, then 10.25% p.a. for the next 4 years and 9% p.a. for the last 3 years.

(a) What is the accumulated value of this retirement plan.

(b) What is the total interest earned for the 10 years.

An annuity with payments at the end of each month pays $200 for 2 years, then $300 for the next year, and then $400 for the following two years. Find the discounted value of these payments at interest of 10% compounded monthly.

A debts of $4000 bears interest at 12% compounded semi-annually. It is to be repaid by semi-annual repayments of $400. Find the number of full payments required, the value of the final payment.

Mr Colby borrows $10,000. The loan is to be repaid in equal instalments at the end of each month for the next 5 years. Find the monthly instalments if interest is at 10% p.a.

Reference no: EM132434086

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