John Paul open an annuity with $7,500.00 and makes monthly payments of $340.00 paid at the end of each month for 14 years that has an interest rate of 3.6%, compounded monthly.
How much is in the account at the end of the 14 years? (Round to 2 decimal places.)
How much did John Paul deposit? (Round to 2 decimal places.)
John Paul then decided to withdrawal from the annuity monthly payments for 6 years paid at the end of each month. If he is still getting the same interest rate, what would the monthly payment amount be?
The monthly payments are (Round to 2 decimal places.)
What will the total amount that John Paul will be paid? (Round to 2 decimal places.)
How much is in the account at the end of the 14 years? (Round to 2 decimal places.)
How much did John Paul deposit? (Round to 2 decimal places.)
John Paul then decided to withdrawal from the annuity monthly payments for 6 years paid at the end of each month. If he is still getting the same interest rate, what would the monthly payment amount be?
The monthly payments are (Round to 2 decimal places.)
What will the total amount that John Paul will be paid? (Round to 2 decimal places.)