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# Note for MATH 1313 with Professor Ahmed-Zaid at UH annuities

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COURSE
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TYPE
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PAGES
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WORDS
KARMA
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This 4 page Class Notes was uploaded by an elite notetaker on Friday February 6, 2015. The Class Notes belongs to a course at University of Houston taught by a professor in Fall. Since its upload, it has received 23 views.

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Date Created: 02/06/15
92 grams 20m Section 52 l C 6Q kj m inks A sequence of equal periodic payments made at the end of each payment period is called an ordinary annuity Examples of annuities 1 Regular deposits into a savings account 2 Monthly home mortgage payments 3 Payments into a retirement account We Will study annuities that are subject to the following conditions 1 The terms are given by xed time intervals 2 The periodic payments are equal in size 3 The payments are made at the end of the payment periods 4 The payment periods coincide With the interest conversion periods The sum of all payment made and interest earned on an account is called the future value of an annuity The future value S of an annuity of n payments of R dollars each paid at the end of each investment period into an account that earns interest at the rate of 139 per period is S fulruri MEL 1 WWW1 PNTgt mi i 68 Q CAINI I Y7 The present value P of an annuity of n payments of R dollars each paid at the end of each investment period into an account that earns interest at the rate of 139 per period is a Mydc AM 1 Aw 0 0m Mmth 7 Section 52 iAnnuities l a Qn Uh l Lle39LODU mAQOf Ko Example 1 Carrie opened an IRA on January 31 1990 with a contribution of 2000 1 Q 01 I r She plans to contribution of 2000 thereafter om until her L F retirementinthe e 20 payments lfthe account eamsinterest atthe rate of8 peryear WW A 3 0er r vmwa at C m Le CV annuik f 0 go Sz Lj Qooo Ollggsgq L 0393 4 1 quot Example 2 Alfreda pays 320 Nor 4 years for a car makiii no down payment If the loan borrowed costs 6 per year compound WM K 32G m M1 kaqlrs r W PQ o O DC gt 3 V ZQYY Section 52 iAnnuities 2 Dwa TI 70ch or Z ulvdhk e Elt 3Y ll S g 9000 39d Q L i P 310 M o C QWOTl gaiq oMEJtolEsEJL ENE EEWEI LEF BE E7 7 L E 3 yoga 12 E 32 EM ETD Lg ILA gngrmM ins39 Section 52 iAnnuities 139 mo 39 o LOQZS4G aoe25 ll 33

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