# Retirement annuity

How much will it cost to purchase a two-level retirement annuity that will pay $2000 at the end of every month for the first 10 years, and$3000 per month for the next 15 years? Assume that the payment represent a rate of return to the person receiving the payments of 7.6% compounded quarterly.

x =  430245.06 USD

### Step-by-step explanation:

Did you find an error or inaccuracy? Feel free to write us. Thank you!

Tips to related online calculators
Do you want to convert time units like minutes to seconds?

## Related math problems and questions:

• Present value
A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making monthly payments over a 15 year period. How much should the monthly payment be in order to pay off the debt in 15 years? • Loan Apply for a$ 59000 loan, the loan repayment period is 8 years, the interest rate 7%. How much should I pay for every month (or every year if paid yearly). Example is for practise geometric progression and/or periodic payment for an annuity.
• Future value
Suppose you invested $1000 per quarter over a 15 years period. If money earns an anual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earn? • Saving 9 An amount of$ 2000 is invested at an interest of 5% per month. If $200 is added at the beginning of each successive month but no withdrawals. Give an expression for the value accumulated after n months. After how many months will the amount has accumula • Railways 3 Railway Corporation wants to purchase a new machine for$360,000. Management predicts that the machine can produce sales of $220,000 each year for the next 5 years. Expenses are expected to include direct materials, direct labor, and factory overhead (exc • Annual interest A loan of 10 000 euro is to be repaid in annual payments over 10 years. Assuming a fixed 10% annual interest rate compounded annually, calculate: (a) the amount of each annual repayment (b) the total interest paid. • Investment 2 Jack invested$5000 in a 5-month term deposit at 4.7% p. A. . At the end of the 5-months, jack reinvested the maturity value from the first deposit into an 11-month term deposit at 7.3% p. A. What is the maturity value at the end of the second term deposi
• Savings
Suppose on your 21st birthday you begin making monthly payments of $500 into an account that pays 8% compounded monthly. If you continue the payments untill your 51st birthday (30 years), How much money will be in your account? How much of it is interest? • Investment 1000$ is invested at 10% compound interest. What factor is the capital multiplied by each year? How much will be there after n=12 years?
• If you 3
If you deposit $4500 at 5% annual interest compound quarterly, how much money will be in the account after 10 years? • How much 2 How much money would you need to deposit today at 5% annual interest compounded monthly to have$2000 in the account after 9 years?
• Interest
Calculate how much you earn for $n years$x deposit if the interest rate is $p% and the interest period is a quarter. • Bank Paul put 10000 in the bank for 6 years. Calculate how much you will have in the bank if he not pick earned interest or change deposit conditions. The annual interest rate is 3.5%, and the tax on interest is 10%. • You take You take out Php 20 000 loan at 5% interest rate. If the interest is compounded annually, a. Give an exponential model for the situation b. How much Will you owe after 10 years? • Savings The depositor regularly wants to invest the same amount of money in the financial institution at the beginning of the year and wants to save 10,000 euros at the end of the tenth year. What amount should he deposit if the annual interest rate for the annua • An investment How long will it take for an investment to double at a simple interest rate of 5.10% per annum? Express the answer in years and months, rounded up to the next month. • Drilling machine A manufacturing firm purchased a heavy duty drilling machine. They were given two payment options: Option 1: Make a payment of$46,000 immediately to settle the invoice for the machine. Option 2: Make a payment of $21,500 immediately and the balance of$2