This preview shows page 1. Sign up to view the full content.
Unformatted text preview: .. I think it is 7 periods and not 8 periods since it is asking for the balance on Sep. 1 2013. I approached this problem by finding Future Value of Annuity Due and using it to find the accumulated value. FV-AD = FVF-OA x (1+i) = 8.9228 x (1.08) Accum. Value = FV-AD x R = 9.6336 x 8000 =77093 So I add an additional 8000 to Accum Value b/c there is one more deposit in Sep. 1, 2013. and the final answer is $85093....
View Full Document
This note was uploaded on 06/03/2010 for the course ACC 51 taught by Professor Botsford during the Spring '08 term at DeAnza College.
- Spring '08