8. don made deposits of $500 at the end of each year for eight years. the rate is 8% compounded annually. using the tables found in the textbook, calculate the value of don's annuity at the end of eight years.

Step-by-step explanation:

P = $ 500 ;r =8% ;  n= 8

A = P* (1+r/100)^n

A= 500 * ( 1 + 8/100)⁸

= 500 * ( 1 + 0.08)⁸  = 500 * 1.08⁸

=500*1.85

= $ 925.45

all group life insurance is term insurance. actually it is annual renewable term and it is rated on the average age and claims experience of the entire group, which is called "experience rating." remember, this type of insurance has a 31-day grace period and is convertible to whole life upon leaving employment. a contributory group plan requires that both the employer and the employees pay part of the premium. at least 75% of those eligible must participate, so the group is sure to get most of the healthy employees as well as those that are sick.

step-by-step explanation:

hope this !