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  3. 1. an annuity of $30000 earning 7.3% per annum, co

1. An annuity of $30000 earning 7.3% per annum, compounded monthly, pays $750 monthly. What...

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Finance

1. An annuity of $30000 earning 7.3% per annum, compounded monthly, pays $750 monthly. What is the value of an annuity after 4 years of payments?

2. Brad plans to buy a second-hand car in two and a half years. He estimates that he will need $15000. To accumulate this amount, he plans to make monthly payments to an investment that earns 6.5% per annum, compounded semi-annually. How much should his monthly payments be?

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