F.5 MATHS
2015-06-15 6:40 pm
Felix family has decided to deposit $350 into an annuity every3 monthsfor 4 years. The account will earn 3.75%/ a compounded quarterly. Starting 3months after the last deposit, Felix will withdraw the money every 3 months inequal payments for 2 years. What is the amount of each withdrawal? Mary needs $750 a year for 3 years to buy textbooks. She will startuniversity in 1 year. Her saving account pays 4%/a compounded annuity. How muchneeds to be in her account now to pay for the books?
回答 (2)
2015-06-20 10:29 am
✔ 最佳答案
Question :Felix family has decided to deposit $350 into an annuity
every 3 months for 4 years. The account will earn 3.75% a
compounded quarterly. Starting 3 months after the last
deposit, Felix will withdraw the money every 3 months
inequal payments for 2 years. What is the amount of each
withdrawal?
Solution :
Figure out the balance in the account after the deposits are
made. The family will make a total of 16 payments over 16
quarterly periods. Since the interest rate given is annual,
divide it by 4 to get the quarterly interst rate: 0.375 ÷ 4 =
0.09375. Then find the future value of an annuity of $350 at
9.375% for 16 periods.
Method 1 : use financial calculator
Set PV = 0 (the present value is zero, since no payments
have been made), PMT = - 350 (the payment made each
period; it is negative since this is a cash outflow), N or PER
or NPER (the number of periods, depending on your
calculator) = 16, and INT = 0.09375; use the calculator to
find FV (future value).
Method 2 : use Excel
The formula is =FV(0.009375,16,-350). Excel assumes PV = 0.
Method 3 : use an annuity table
Use an annuity table to find the future value of an annuity
of $1 at 9.375% for 16 periods. The value should be close to
17.1758; multiply this by 350 to get the value of an annuity
of $350.
Whichever method you use, the answer should be $6012.
Now figure out how much Felix can withdraw each quarter.
Method 1 : use financial calculator
- 6012 is the present value. 0 is the future value. There are 8
periods and the interest rate is 0.09375. Calculate the payment.
Method 2 : use Excel
The formula is =PMT(0.009375,8,-6012).
Method 3 : use an annuity table
Look for the present value of the annuity this time rather
than the future value. You need the present value of an
annuity of $1 at 9.375% for 8 periods. The value should be
close to $7.67. The present value of an annuity of x dollars
is 7.67x = 6012. Then find the value of x.
Finally, the answer should be $784.
2015-06-15 7:59 pm
收錄日期: 2021-04-16 16:54:40
原文連結 [永久失效]:
https://hk.answers.yahoo.com/question/index?qid=20150615000051KK00016