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# Amount of an Annuity (Annuity "IN") $A=\frac{R[(1+\frac{i}{c})^{tc}-1]}{(\frac{i}{c})}$

- 1Calculate the amount of the annuity:

$700 deposited every 6 months for 4 years at 5% compounded semi-annually. - 2Calculate the amount of the annuity:

$450 deposited every 3 months for 7 years at 6% compounded quarterly. - 3Calculate the regular deposit for the annuity:

$4000 in 9 years at 4.25% compounded monthly. - 4Calculate the regular deposit for the annuity:

$8000 in 15 years at 3.25% compounded quarterly. - 5Your parents want to have $50,000 saved in 18 years to send you to university. They deposit in an account that pays 4% compounded monthly. What monthly deposit should they make to achieve this goal?
- 6You want to have a million dollars when you turn 60 years old. If you start saving when you're 20 years old and deposit in an account that pays 5% compounded monthly. What monthly deposit should you make?
- 7If you deposit \($\)600 every 3 months in an investment that pays 6.5% compounded quarterly, about how long would it take to amount to \($\)32,000?
- 8If you deposit \($\)900 every 6 months in an investment that pays 3.5% compounded semi-annually, about how long would it take to amount to \($\)12,000?

$$e=mc^2$$