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- On January 1, the Wiek Company contracted with its president, T. Mae, to make a single deposit immediately to establish a fund with a trustee that pays Mae $40,000 per year for each of the three years following retirement. Mae will retire after 10 years on December 31, and the three equal annual payments are to be made by the trustee each December 31 starting at the end of the 11th year. The trustee will add to the fund 8% annual compound interest each year-end. The fund is to have a zero balance on December 31, immediately after the last payment to the president. When answering the following questions, round your answers to the nearest whole number. Do not use negative signs with your answers. a. Compute the present value of the pension obligation. Answer b. How much of the total amount paid to the president during the payout period is provided Answer by interest earned during the three-year payout period?Theodore makes beginning of year deposits of 3000 for 10 years into a fund earning interest at an annual effective interest rate of 5%. At the end of each year, the interest earned is deposited into a second fund earning interest at an annual effective interest rate of 6%. Find the total accumulated value of his assets at the end of 10 years.(b) Daniel deposits $5,000 into a fund at the end of each month in the coming five years. The fund earns 6% p.a. compounded monthly. (i) Calculate the amount in the fund at the end of the fifth year. (ii) Starting from the sixth year, $X is deducted from the fund for donation to charity at the end of each month continuing forever. Find X.
- Kevin deposits $10,000 at the beginning of each year for ten years, into a financial instrument offering dividend rate of 10% per year. He then withdraws annualized level payments of P starting at the beginning of eleventh year and continuing for 15 years later, at dividend rate of 5% per year. At the end of 25 years, the fund balance remains zero. a. Calculate the present value of the annualized deposits he makes. b. Calculate the annualized level payment of withdraw, P. c. Determine the balance of the fund at the end of 15 years starting from the year he makes his first deposit, just before the next sixth withdraw is being made.Find the periodic payment for each sinking fund that is needed to accumulate the given sum under the given conditions. (Round your answer to the nearest cent.) FV = $700,000, r = 7.2%, compounded semiannually for 45 years $Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. $49,000; money earns 4% compounded semiannually for 13.5 years
- Bill makes deposits of 2,700 at the end of each year for n years into a fund. At time n, he uses the accumulated value of the fund to purchase an annuity immediate that makes payments of 197,909.20 at the end of each year for 5 years. The annual effective interest rate is 15%. Calculate n. O a. 26 O b. 29 O c. 28 O d. 24 O e. 22Sam wants to donate $1,000,000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of j4-3.81% p.a. effective and the first scholarship will be first awarded 2.5 years after the date of the donation. (b) Assume that the fund's earnings rate rate has changed from 4-3.81% p.a. to j4-3.56% p.a. one year before the first scholarship payment. How much does Sam need to add to the fund at that time (one year before the first scholarship payment) to ensure that scholarship amount will be unchanged (rounded to two decimal places)? Question 9Answer a. 78309.64 b. 74276.05 C. 71226.96 d. 75395.75The trustees of a college have accepted a gift of $100000, but are required to deposit it in an account paying 8% per year, compounded semiannually. They may make equal withdrawals at the end of each six-month period, but the money must last 4 years. a. Find the amount of each withdrawal. b. Find the amount of each withdrawal if the money must last 7 years.
- The trustees of a college have accepted a gift of $175,000, but are required to deposit it in an account paying 10% per year, compounded semiannually. They may make equal withdrawals at the end of each six-month period, but the money must last 7 years. (a) Find the amount of each withdrawal. (b) Find the amount of each withdrawal if the money must last 9 years. (a) The amount of each withdrawal is $ (Round your answer to the nearest cent.)8. Deposits of 1000 are placed into a fund at the end of each year for the next 25 years for the subsequent purchase of a perpetuity. Five years after the last deposit, annual payments commence and continue forever. If i = .09 then find the amount of each payment.A young man is the beneficiary of a trust fund established for him 16 years ago at his birth. If the original amount placed in trust was $50,000, how much will he receive if the money has earned interest at the rate of 9/year compounded annually? Compounded quarterly? Compounded monthly? (Round your answers to the nearest cent.) compounded annually $198.515 29 compounded quarterly $ compounded monthly $