Assignment 6(3)

# Assignment 6(3) - Maple T.A. - Gradebook

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System Homepage » Class Homepage » Student Details » Student Assignment Details ActSci 231 W09 : Gradebook Welcome Po-Wei Chuang [ My Profile ] Assignment detail for Po-Wei Chuang in Assignment 6: Po-Wei Chuang Login: pchuang Email: pchuang@uwaterloo.ca Student ID: 20260696 Assignments completed: 9 Assignments active: 0 Question Grade 1 Annual deposits are made into a fund at the beginning of each year for 10 years. The first 7 deposits are \$800 each and deposits increase by 5% per year thereafter. If the fund earns 8% effective, find the accumulated value at the end of 10 years. Answer to the nearest dollar. Your Answer: 12799 Correct Answer: 12799 Comment: First : find the accumulated value of annuity part = 800 * ((1+0.08) 7 -1)/d*(1+0.08) 3 Second : find the accumulated value of growing annuity = 800 * (1+0.05)* (1-0.972222 3 )/(1-0.972222)*(1+0.08) 3 Instructors Comment: 1.0 2 An annuity-immediate pays 25 per year for 20 years, then decreases by 1 per year for 24 years. At an annual effective interest rate of 6%, the present value is

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## This note was uploaded on 03/24/2010 for the course ACTSC 231 taught by Professor Chisholm during the Winter '09 term at Waterloo.

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Assignment 6(3) - Maple T.A. - Gradebook

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