&'¿û ÃZI¤ZÎÉFÖPMÔÎÔPÖBAÌPMÎÐÄÏZ2¤Z1¤E¤E1¤F¤€ €€€€€***************›** ANNU1 **›***************›&&;@,;@,’;@,ô }ù/@‚ /-‹F:@„,&@þ00 (ÁÎÎÕÉÔÙ ÃÏÍÐÕÔÁÔÉÏΠÂÙ ÄÒ® ÐÅÔÅÒ ÓÈÅÎËÉÎ 5@‚@ 5-F:@„,&@- - " AN ANNUITY IS ANY SET OF EQUAL++ #PAYMENTS MADE AT EQUAL INTERVALS OF0&& TIME. WITH AN ORDINARY ANNUITY:,, $PAYMENTS ARE MADE AT THE ENDS OF THED%% PERIODS DEFINED BY THESE TIMEN)) !INTERVALS. FOR AN ANNUITY DUE THEX-- %PAYMENTS ARE MADE AT THE BEGINNING OFb-- %THE PERIODS IN QUESTION. THE PRESENTl,, $VALUE OF AN ANNUITY IS THE AMOUNT OFv,, $CASH ONE WOULD ACCEPT NOW INSTEAD OF€((  THE SEQUENCE OF FUTURE PAYMENTS.Š// &BECAUSE MONEY HAS TIME VALUE (INTEREST”-- %IS CHARGED)THE PRESENT VALUE DOES NOTž** "EQUAL THE SUM OF THE PAYMENTS. THE¨)) !FUTURE VALUE OF AN ANNUITY IS THE²-- %AMOUNT OF CASH WHICH WOULD ACCUMULATE¼((  BY THE END OF THE ANNUITY IF THEÆ,, $INDIVIDUDAL PAYMENTS ARE INVESTED ATÐ%% THE PREVAILING INTEREST RATE.Ú<;@, 8 ENTER ANY CHARACTER TO CONTINUE<ä4 +4 "MANY ANNUITIES ALSO INVOLVE A LASTî'' BALLOON PAYMENT. IN THE ANNUITYø-- %PROBLEMS WE EXAMINE,THE INTEREST RATE-- %PER PERIOD,PAYMENT PER PERIOD,PRESENT ++ #OR FUTURE VALUE,AND BALLOON PAYMENT// &(AT END OF TERM) IF DESIRED. GIVEN ANY ++ #FOUR VALUES OF THE ABOVE VARIABLES *((  THIS PROGRAM WILL FIND THE FIFTH4-- %VARIABLE WHEN CONSIDERING THE PRESENT>,, $VALUE SITUATION. IN THE FUTURE VALUEH)) !SITUATION NO BALLOON PAYMENTS ARER,, $CONSIDERED AS IN THIS CASE A BALLOON\-- %PAYMENT OF A CERTAIN AMOUNT WOULD ADDf-- %THAT AMOUNT TO FUTURE VALUE.NOTE THATp** "INTEREST RATES ARE WRITTEN AS PER z// &CENTS NOT AS DECIMALS(E.G. 6% NOT .06)„,, $IN ADDITION NOTE THAT INTEREST RATE Ž** "IS PER PERIOD, I.E. PER MONTH, PER˜  YEAR, ETC.¢9‘;@, 5 ENTER ANY CHARACTER TO BEGIN9‘G }L'' SELECT TYPE OF PROBLEM DESIRED.Q V@@ 8 1.ORDINARY ANNUITY-FUTURE VALUE (SINKING FUND)`$$  2.ANNUITY DUE-FUTURE VALUEj** " 3.ORDINARY ANNUITY-PRESENT VALUEt%%  4.ANNUITY DUE-PRESENT VALUE~4 AP & MAKE YOUR CHOICE*€4 BƒE A 5IS INTEREST RATE QUOTED PER PERIOD(P) OR ANNUALLLY(A)E…%0P*0A ERROR% AU†0AA`‡< AY. NUMBER OF PAYMENTS PER YEAR2‚< Bˆ''€AAAA°00ORDINARY ANNUITY-FUTURE VALUE TYPE PROBLEM›º }Ä A0Ç6ƒ-ƒ'AÉ/„"A™™/6„-…$++@%ƒ,#†&@,'ƒÎ/…"A™™/6…-„$ƒ'++@%ƒ,#†&@,Ø3†"A™™36†-K:+„$ƒ'…%@,,'K:@%‡,â$O:ƒ&@™™, ?$ A@ì APPRINTOUT› A06ƒ-ƒ'A-/„"A™™/6„-…$++@%ƒ,#†&@,'ƒ2E…"A™™E6…-„$ƒ$+@'+@%ƒ,,'++@%ƒ,#†&@,<A†"A™™A6†-K:+„$ƒ'+…$+@%ƒ,,%@,,'K:@%ƒ,F$O:ƒ&@™™, ?$ AAP APPRINTOUT›x A0 A0€}6ƒ-ƒ'A‚Iˆ"A™™I6ˆ-…$+@'ƒ,$+ƒ&+@%ƒ,#+6†,,%‰$+@%ƒ,#+6†,ŒG…"A™™G6…-+ˆ&‰$+@%ƒ,#+6†,,$ƒ'+@&+@%ƒ,#+6†,,–9†"A™™#6‡-+‰$ƒ&…,'+ˆ$ƒ&…,96†-K:‡,'K:@%ƒ, R‰"A™™>6‰-ˆ&…$+@'ƒ,$+@&+@%ƒ,#+6†,,R6‰-‰$+@%ƒ,#†ª$O:ƒ&@™™, ?$ AB´ APÜ A0 A0€æ6ƒ-ƒ'Að[ˆ"A™™[6ˆ-…$+@%ƒ,$+@'ƒ,$+@&+@%ƒ,#+6†,,%‰$+@%ƒ,#+6†,õS…"A™™S6…-+ˆ&‰$+@%ƒ,#+6†,,$ƒ'+@%ƒ,'+@&+@%ƒ,#+6†,,úQ†"A™™;6‡-+‰$ƒ&…$+@%ƒ,,'+ˆ$ƒ&…$+@%ƒ,,Q6†-K:‡,'K:@%ƒ,^‰"A™™J6‰-ˆ&…$+@%ƒ,$+@'ƒ,$+@&+@%ƒ,#+6†,,^6‰-‰$+@%ƒ,#†$O:ƒ&@™™, ?$ AC AP¸ INPUT SUB ROUTINE›Â S +P >ENTER EACH OF THE FOLLOWING. FOR THE UNKNOWN VALUE ENTER 9999S Ì D A0 € @6 FUTURE VALUE ::„D BÖ D A00€@6 PRESENT VALUE ::ˆD Bà 8 A0@* PAYMENT :.…8 Bê 8 A0P* NUMBER OF PAYMENTS :.†8 Bï @ A0U4A2 ANNUAL INTEREST RATE :6ƒ@ Bð 4A*ƒA™™6ƒ-ƒ'‚ñ 4AA0pô > A0`0 INTEREST RATE PER PERIOD(%): 4ƒ> Bþ $ 8 A0€* BALLOON PAYMENT :.‰8 A0€ $ &&I FOR FV REG. ANNU.-SINKING FUND›ª6ƒ-?´%%6‹-„&…'ƒ$++@%ƒ,#†&@,¹GG6Œ-…$+†$+@%ƒ,#†&@,'ƒ&++@%ƒ,#†&@,'ƒ#@» 6Œ-6Œ¾ AFÈO:‹,?$Ò A@ I FOR FV ANNUITY DUE›6ƒ-?116‹-„&…$+@%ƒ,'ƒ$++@%ƒ,#†&@,__6Œ-…$++†%@,$+@%ƒ,#†&@,'ƒ&…$++@%ƒ,#+†%@,&@&ƒ,'ƒ#@ 6Œ-6Œ" AF,O:‹,?$6 AA hI FOR PV/ORDINARY ANNUITY›r6ƒ-?|;;6‹-…'ƒ$+@&+@%ƒ,#+6†,,%‰$+@%ƒ,#+6†,&ˆll6Œ-†$…'+ƒ%+@%ƒ,#+†%@,,&…'+ƒ#@,$+@&+@%ƒ,#+6†,,&†$‰'+@%ƒ,#+†%@,† AFO:‹,?$š AB ÌI FOR PV/ANNUITY DUE›Ñ6ƒ-?ÖGG6‹-…$+@%ƒ,'ƒ$+@&+@%ƒ,#+6†,,%‰$+@%ƒ,#+6†,&ˆà^^6Œ-+@%ƒ,$+†$…'+ƒ$+@%ƒ,#+†%@,,&…'+ƒ#@,$+@&+@%ƒ,#+6†,,,åDD6Œ-Œ%…'ƒ$+@&+@%ƒ,#+6†,,&†$‰'+@%ƒ,#+†%@,ê AFïO:‹, ?$ô ACøCOMPUTATION› 6ƒ-ƒ&‹'Œ $ˆPRINTOUT›‹I&6ˆ-P:+ˆ%>P,$A,'AI6„-P:+„%>P,$A,'A&&6ƒ-P:+ƒ%=P,$B,'B’+œ7€"@)€"@7 FUTURE VALUE = „¡7€"@)€"@7 PRESENT VALUE = ˆ¦!! NUMBER OF PAYMENTS = †©7 4A7  CONSISTING OF ‚ PAYMENTS ANNUALLY«= 4A3 ANNUAL INTEREST RATE = A$ƒ$‚= APP°)) INT. RATE PER PERIOD = A$ƒµ&&6…-P:+…%>P,$A,'Aº!! PAYMENT = …¿&&6‰-P:+‰%>P,$A,'AÄ7€"@)€"@7 BALLOON PAYMENT = ‰â, ( ENTER ANY CHARACTER FOR MORE,’ì A•€D1:ANNU1