The Amount of $75 400

question 38

Essay

The amount of $75 400.00 is invested at 9.65% compounded quarterly for 3 years. After 3 years the balance in the fund is converted into an annuity. If interest on the annuity is 6.75% compounded semi-annually and payments are made at the end of every six months for 8 years, what is the size of the payments?

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Definitions:

Indoor Plumbing

A system within buildings that supplies water for purposes such as drinking, washing, heating, and the removal of human waste.

Central Heating Systems

A system that provides warmth to an entire interior of a building from one point to multiple rooms.

Public Health Regulations

These are laws and policies enacted by governmental bodies to protect and improve the health of the public, including sanitation standards, disease control measures, and health education.

Pollution Control

Measures and strategies implemented to reduce or eliminate the release of pollutants into the environment, including air, water, and soil pollution.