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NeonPlaySword
NeonPlaySword
30.10.2021 • 
Mathematics

Amber's grandparents set up an account for her college fund. They will invest $7,100.00 paid at the end of each quarter for 8 years that has an interest rate of 3.7%, compounded quarterly. After 10 years the grandparents sold their business and made a lump sum deposit to the annuity of $52,000.00 in addition to the continuation of 8 years of regular deposits. a) How much is in the account at the end of the 18 years?

b) How much was deposited into the annuity?

Once the annuity matured, Amber decided to withdraw from the annuity quarterly payments for 6 years paid at the end of each quarter. If the interest rate did not change, what would the quarter payment amount be?

c) The quarterly payments are ___

d) What will the total amount that will be paid?

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