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ActSci 231 W09 : Gradebook
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Assignment detail for PoWei Chuang in Assignment 4:
PoWei Chuang
Login:
pchuang
Email:
pchuang@uwaterloo.ca
Student ID:
20260696
Assignments completed:
9
Assignments active:
0
Question
Grade
1
Dr. Hillary Street began making contributions to a new retirement account on her 26
th
birthday. She
made a contribution of $4,000 on her birthday each year through to her 66
th
birthday. Starting at age
67 and continuing through her 78
th
birthday, she made a level withdrawal on her birthday. Find the
amount of these withdrawals if they completely exhaust the balance in her account, and the annual
effective interest rate is 6.1% until she is 67, then 5.4% thereafter.
Your Answer:
6555.08
Correct Answer:
78,698.2231±0.05
Comment:
4,000*((1+0.061)^411)/(0.061/(1+0.061))=y*(1(1/(1+0.054))^12)/(0.054/(1+0.054))solve for y
Instructors Comment:
0.0
2
Find the present value to the nearest dollar on January 1 of an annuity which pays $1,500 every
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 Winter '09
 Chisholm

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