a person wants to establish an annuity for retirement. he wants to make quarterly deposits for 25 years so that he can then make quarterly withdraws of $14,500.00 for 15 years. the annuity earns 6.94% compounded quarterly.
(a) how much will have to be in the account at the time he retires?
value of account at retirement:
[note: your answer is a dollar amount and should have a dollar sign and exactly two decimal places.]
(b) how much should be deposited each quarter for 25 years in order to accumulate the required amount?
quarterly deposit:
[note: your answer is a dollar amount and should have a dollar sign and exactly two decimal places.]
(c) what is the total amount of interest earned during the 40-year period?
total interest earned:
[note: your answer is a dollar amount and should have a dollar sign and exactly two decimal places.]

the answer is a if my teacher taught me correct

if gloria has "carry over" minutes, (that is, any minutes paid for but not used in a month can be applied to her payment for minutes in the next month,) her total usage for the three months is: total minutes = 320 + 243 + 489 = 1052 minutes number of 200 minute blocks = 1052/200 = 5 r52 (that is 5 with a remainder of 52) rounding up the number of 200 minute blocks gives her usage for the three months as 6 blocks. the cost for six blocks is 6 x $25 = $150 she also has 200 - 52 or 148 carry over minutes if gloria pays each month and unused minutes are lost, applying the rounding up procedure to each month gives: first month usage of 320 minutes rounds up to 2 blocks of 200 minutes for a payment of 2 x $25 = $50 second month usage of 243 minutes rounds up to 2 blocks of 200 minutes for a payment of 2 x $25 = $50 third month usage of 489 minutes rounds up to 3 blocks of 200 minutes for a payment of 3 x $25 = $75 total payments for the three months are $50 + $50 + $75 = $175 get the plan with carry over minutes!