Videos: General Annuities
3. You are shopping for a $100,000 mortgage and the bank has quoted you a rate of j2=6% .If you will make monthly payments for 20 years how much will your payments be?
4. You want to have accumulated $4,000 for your European trip four years from now. If interest is 6.4% compounded monthly, find the size of the quarterly deposits required for 4 years if deposits are made at the beginning of each quarter.
